|Posted on Wednesday, October 26, 2011 - 12:22 pm: ||
Polaris Announces Investment in Brammo
Powersports Leader Acquires an Interest in Electric Motorcycle Leader
MINNEAPOLIS (10/26/2011) — Polaris Industries Inc. (NYSE: PII) today announced a minority investment in Brammo, an Ashland, Ore.-based maker of electric vehicle technology and two-wheel electric vehicles. By investing in Brammo, Polaris obtains access to their proprietary electric vehicle powertrain technology, as well as exposure to the rapidly growing electric motorcycle market.
"We are excited to advance our electric vehicle capability by establishing Polaris as a business partner and part owner of Brammo, one of the most innovative and aggressive companies I have found in the electric motorcycle space,” said Scott Wine, Polaris CEO. "Our companies share a passion for performance, and I look forward to exploiting the numerous opportunities created by pairing Brammo’s industry-leading electric powertrain technology with Polaris’s vast array of market-leading powersports products. This is a small but important investment for Polaris in an electric vehicle market that we feel is poised for significant growth.”
Founded in 2002, Brammo has made its mark by developing electric vehicle technology tailored specifically for the motorcycle segment. Brammo currently offers the Enertia line of motorcycles, capable of speeds in excess of 60 mph and ranges up to 80 miles on a single charge. Brammo plans to expand their product line to include high-performance sport motorcycles capable of more than 100 miles on a single charge, as well as a full line of entry- to high-performance dirt and dual-sport motorcycles.
"We have always been impressed with Polaris’ leadership within the motorsports industry. Polaris is a company founded on innovation and quality, and as such their decision to partner with Brammo is a resounding endorsement of our technology,” said Brammo CEO and founder Craig Bramscher. "This is a terrific scenario for Brammo’s customers, as we bring Polaris' legendary engineering, manufacturing, and customer service expertise to bear on our products."
In addition to utilizing Brammo technology in its own products, Polaris will collaborate with Brammo to grow their core business. Polaris and Brammo each bring distinct competencies and assets to this partnership, and share cultures centered on a passion for excellence and innovation. This combination of capabilities and culture will allow Polaris and Brammo to create and seize opportunities that neither could capture independently.
|Posted on Tuesday, November 01, 2011 - 02:58 pm: ||
Hong Kong Chooses Brammo Electric Motorcycles to Replace Petrol Motorcycles in Police and Other Government Departments
ASHLAND, OR, November 1st, 2011 - Brammo Inc., a global leader in the electric motorcycle industry, is proud to announce that following extensive evaluation by multiple departments of the Hong Kong Government to explore the adoption of more electric vehicles for public sector use, the Hong Kong Government has selected Brammo electric motorcycles to replace existing conventional petrol motorcycles in the Government fleet which have been in service for several years.
Craig Bramscher, CEO and Founder of Ashland, Oregon-based Brammo Inc. said, “This is a significant milestone in the adoption of electric vehicles by governments. As the world’s leading manufacturer of electric motorcycles, we were confident that we would lead this change and we are delighted that we have started here in Hong Kong with some of the most EV-engaged leaders in the world.”
The Brammo Enertia Plus motorcycles will be driven year-round by engineers in the Water Supplies Department to reach district service locations, while the Hong Kong Police Force will employ the 2012 Enertia Plus LE to conduct traffic duties in various city districts. The Enertia Plus LE (Law Enforcement) is based on the Brammo Enertia Plus civilian model, but is equipped with special features that tailor it for authority patrol use. All vehicles will be supplied through Brammo’s exclusive dealer in Hong Kong, JCAM Advanced Mobility Company Ltd. (JCAM).
“We are enthusiastic about strengthening our relationship with the Hong Kong Government through the supply and support of premium performance electric motorcycles to help them achieve vehicle emissions reduction initiatives” said Matt McGuire, Managing Director, JCAM.
Brammo’s first-in-class product has garnered widespread attention and support since its initial introduction to Hong Kong streets over one year ago. Among its early advocates was Secretary of Commerce Gary Locke, who admired the Enertia Plus at an all-U.S. Electric Vehicle Showcase over which the then-Secretary presided in May 2010 at Hong Kong’s Disneyland, as part of the Clean Energy Mission he led to Hong Kong and mainland China.
“The US Foreign Commercial Service is pleased to see that a leading US electric vehicle manufacturer such as Brammo is supplying its world class products to the Hong Kong Government. Hong Kong plays a unique role as a regional trendsetter and commercial hub, and the Hong Kong Police Force, in particular, enjoys a sterling international reputation, so I am confident that this contract represents but the first of many future sales for Brammo and other U.S. electric vehicle manufacturers.” said Andrew Wylegala, Chief Commercial Consul of the American Consulate General in Hong Kong.