Brammo now has a host more cash with which to expand the distribution of its electric motorcycles. The first $13 million of a $45 million funding round was led by Polaris Industries along with other undisclosed investors. Polaris is a strategic partner which also brings the opportunity to integrate the Brammo Electric Vehicle drivetrain into other vehicles.
Now you might not be interested in company financials, but it’s a clear sign of the massive interest and growth in the electric bike market, and Polaris managed sales in 2010 of $1.99 billion including all-terrain vehicles, snowmobiles, and motorcycles, so that’s a fair bit of backing.
And if you didn’t know, Polaris not only manufactures motorcycles itself as the Victory Motorcycles subsidiary, but is also now the owner of Indian Motorcycles with a range of new models due out at the end of this year.
It’ll be interesting to see whether electric cruisers can capture any of the current market for Victory and Indian bikes. In the meantime, Brammo continues to build on the racing success it has already had in the TTXGP series.
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