Polaris Takes Full Control Of Electric Motorcycle Business
Polaris Industries Inc. announced late Thursday that it has purchased the remainder of Ashland, Oregon-based Brammo Inc.’s electric motorcycle business for an undisclosed price.
Medina-based Polaris first invested in the business in 2011, bolstering its electric vehicle and motorcycle business by accessing Brammo’s proprietary electric vehicle powertrain technology. Polaris said this latest transaction will allow Brammo to continue developing electric vehicle powertrains.
As part of the deal, Polaris will begin making electric motorcycles in the second half of 2015 at its Spirit Lake, Iowa, plant. Polaris already makes its Victory and Indian motorcycles at the facility.
Though the company did not reveal how much it paid to secure a full stake in Brammo’s electric motorcycle business, Polaris has spent millions on the business in recent years. According to the Star Tribune, Polaris was part of a consortium that invested $39 million in Brammo between 2011 and 2012.
Polaris’ push to broaden its scope beyond making snowmobiles and become more of a global small-vehicle manufacturer was the subject of a May 2013 Twin Cities Business cover story.
The company also made news this week when a report detailed the $80 million in incentives Alabama officials pledged for Polaris to build a 600,000-square foot facility in Huntsville, Alabama.