Minneapolis, MN (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 we have
found in the electric
motorcycle space," said Scott Wine, Polaris
CEO. "Our companies share a
passion for performance, and we look forward
to exploiting the numerous
opportunities created by pairing Brammo's
industry-leading electric
powertrain technology with Polaris' 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
powersports 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 potentially 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
relationship, 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.
About Brammo
Brammo, Inc. is a leading electric vehicle
technology company headquartered in North
America. Brammo designs and develops electric
vehicles including the Encite(tm), Enertia(tm),
Empulse(tm) and Engage(tm) motorcycles. Brammo
are the current TTXGP e-grand prix champions
of North America. Brammo is an OEM supplier
of its innovative Brammo Digital Drivetrain(tm)
systems including the Brammo Power(tm) battery
pack and Brammo Power(tm) vehicle management
system. Brammo has vehicle distribution and
marketing operations in North America, Europe
and Asia. To learn more visit www.Brammo.com
About Polaris
With annual 2010 sales of $1.99 billion, Polaris
designs, engineers, manufactures and markets
off-road vehicles (ORVs), including all-terrain
vehicles (ATVs) and the Polaris RANGER(tm),
snowmobiles and Victory motorcycles for recreational
and utility use and has recently introduced
a new on-road electric powered neighborhood
vehicle.
Polaris is a recognized
leader in the snowmobile industry; and one
of the largest manufacturers of ORVs in the
world. Victory motorcycles established in
1998 and representing the first all-new American-made
motorcycle from a major company in nearly
60 years, are rapidly making impressive in-roads
into the cruiser and touring motorcycle marketplace.
Polaris also enhances the riding experience
with a complete line of Pure Polaris apparel,
accessories and parts, available at Polaris
dealerships.
Polaris Industries Inc.
trades on the New York Stock Exchange under
the symbol "PII," and the Company
is included in the S&P MidCap 400 stock
price index.
Information about the
complete line of Polaris products, apparel
and vehicle accessories are available from
authorized Polaris dealers or anytime from
the Polaris homepage at www.polarisindustries.com.
