Oregon-based electric motorcycle manufacturer Brammo raised $28 million in a Series B round to to accelerate development of its electric powertrain technology.
Polaris Industries is the lead investor - a leading company making all-terrain vehicles, snowmobiles, motorcycles and road-legal electric vehicles. Existing investor Alpine Energy and new investor NorthPort Investments also participated.
Brammo has developed innovative battery and powertrain technology, being used in the urban commuter Enertia, sports motorcycle Empulse and others. This same EV technology has potential in other vehicles including low speed vehicle markets.
Polaris, which still uses four-stroke engines, wants an inside line to electric vehicle technology. The company will be a key strategic partner, bringing opportunities to broaden the range of markets for Brammo Electric Vehicle drivetrain technology and expertise.
"Brammo and its partners are combining forces to gain dominance in the EV powersports market. We now have the ability to maintain our high standards of quality while we innovate and commercialize at speed. Polaris is the clear leader in powersports and our manufacturing partner, Flextronics, is a global leader in electronics manufacturing. Our products are the synthesis of powersports and electronics," says Craig Bramscher, Brammo founder and CEO.
Besides using an electric motor, Brammo's vehicles incorporate recycled materials and uses just 10% of the material required to make a car.