Polaris Lands Contract To Sell Vehicles To German Army
Polaris Industries, Inc., said Thursday that it has been awarded a contract to provide ultra-light tactical vehicles to the German Army.
The Medina-based company, which is best known as a maker of snowmobiles and all-terrain vehicles (ATVs), has been making military versions of its ATVs and side-by-side vehicles for more than five years.
The vehicle that it is providing to the German military is called MV850, which was designed specifically for the militaries of the United States and its allied forces. Polaris described the vehicle as “highly-mobile” and said it allows for the transportation of military personnel and gear through “extreme off-road terrain.”
A company spokesperson told Twin Cities Business that, because special units will be using the vehicles, the value of the contract and the number of vehicles involved will not be disclosed.
In addition to U.S. Special Forces and military allies, law enforcement agencies currently use MV850 vehicles.
“Defense forces around the world are seeking Polaris Defense Military vehicles to take advantage of our ability to make modifications to our commercial off-the-shelf technology, insert customer requirements, and quickly deliver an end product that meets their needs,” Rich Haddad, general manager of Polaris’ defense unit, said in a statement. “It is our goal to match the warfighter’s mission requirements with our best value product.”
In May, Polaris was named as part of a $382.5 million contract for fire and emergency vehicles for the U.S. Department of Defense. A company official told Twin Cities Business at the time that Polaris sells about $50 million worth of ATVs and side-by-side vehicles to the military annually. That’s a small fraction of the company’s overall $3.2 billion in sales, but the company said it is growing and could eventually become a $200 million business.
Polaris recently announced double-digit growth in both quarterly earnings and revenue. The company has diversified its portfolio significantly in recent years, increasing focus on the commercial and small-vehicle markets, as well as on motorcycles. It recently rolled out a highly-anticipated line of Indian Motorcycles.
For an in-depth look at Polaris’ recent growth, click here.