BRP Purchases Alta Motors Assets
BRP states that it has no plans to renew operations of Alta Motors; rather the move is an opportunity to further its own research and development of alternate energy systems. The company has already produced some electric-powered side-by-side vehicles and has prototypes of electric and hybrid electric Can-Am Spyder vehicles as well as an electric kart in partnership with Rotax.
This is an interesting development, as electric energy systems become more prevalent in the powersports industry. No manufacturer has yet to produce a viable electric-powered snowmobile.
Below is the press release from BRP.
BRP PURCHASES SELECT ASSETS OF ALTA MOTORS AS PART OF ITS ONGOING INTEREST IN EXPLORING ALTERNATE ENERGIES
February 20, 2019, Valcourt, Quebec – BRP (TSX:DOO, NASDAQ:DOOO) has announced the purchase of select assets of Faster Faster, Inc. (Alta Motors) as part of BRP’s longstanding interest in new technologies and alternate energy sources for the powersports industry.
This purchase includes certain intellectual property, patents and some limited physical assets from the former all-electric motorcycle design and manufacturing company. It is an opportunity for BRP to complement its ongoing research and development into this burgeoning area of expertise. BRP has no interest in restarting operations of Alta Motors and assumes no liabilities.
Known for pushing innovation to improve the rider experience, BRP is constantly on the lookout for the next generation of powersports solutions. BRP has already commercialized electric side-by-side vehicles for a number of years, has created electric and hybrid prototypes of Can-Am Spyder vehicles and is currently involved in electric karting with Rotax.