After making two previous investments, Polaris, the maker of Victory and Indian motorcycles, has now acquired the remainder of Brammo's electric motorcycle business.
The plan will allow Brammo to focus on designing, developing, and producing electric vehicle powertrains. Historically, Brammo has struggled to bring product to market. Initially, the company had plans to sell electric motorcycles through Best Buy stores, and when that didn't work, the company moved to a more traditional sales model in 2011. Brammo was unsuccessful at getting many dealers on board.
As a result of this deal, Brammo will become more like Mission Motors while Polaris and its dealer network can handle the job of building and selling motorcycles.
“We have enjoyed our involvement with Brammo Motorcycles over the past three years, and our excitement about their industry-leading lithium-ion electric drivetrain technology has increased commensurate with their improvements in cost and performance. Polaris and Brammo share a goal of adding the most advanced and highest capability electric solutions to Polaris’ portfolio of leading powersports products,” said Scott Wine, Polaris Chairman and CEO.
Polaris and Brammo have had a relationship since 2011, when Polaris made a $28 million investment, which was followed by another $13 million in 2012. No information yet on the amount Polaris paid for the remainder of the company.