ASHLAND, Oregon; July 12, 2012 - Brammo Inc., a leading developer of electric vehicle technology and manufacturer of two-wheel electric vehicles, announced today it has closed the first $13 million tranche of a $45 million Series C funding round designed to accelerate the company's development plans.
"This $13 million round of financing puts Brammo on strong footing to continue to execute, deliver and expand distribution of our electric motorcycles to our customer pipeline," said Craig Bramscher, CEO of Brammo. “This funding will ensure we continue to accelerate production to capitalize on the growing demand for electric motorcycles.” About Polaris Polaris is a recognized leader in the powersports industry, among the global sales leaders for both snowmobiles and off-road vehicles. The Company has established a presence in the heavyweight cruiser and touring motorcycle market with Victory motorcycles and the acquisition of the Indian motorcycle brand. Additionally, Polaris continues to invest in the Global on-road low speed vehicle industry with internally developed vehicles and the acquisition of Global Electric Motorcars (GEM). Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships. Information about the complete line of Polaris products, apparel and vehicles accessories are available from authorized Polaris dealers or anytime at www.polarisindustries.com
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