Polaris picks up another EV maker
Polaris Industries Inc. said Wednesday it is buying Goupil Industrie SA, a French maker of electric utility vehicles.
Goupil, which had sales of $25 million in 2010, is privately owned and based in Bourran, France, Medina-based Polaris (NYSE: PII) said in a news release.
Terms of the deal were not announced.
The news comes on the heels of Polaris' announcement last month that it was leading a $28 million investment in Ashland electric motorcycle maker, Brammo.
Polaris CEO Scott Wine said he sees "tremendous, long-term growth" in the global small electric vehicle market.
"We are excited to acquire Goupil and add to our growing small electric vehicle lineup," Wine said in a statement. "We are eager to pursue the natural synergies between their commercial light duty work products and the more people-mover oriented offerings from our GEM business."
Polaris bought Fargo, N.D.-based GEM (Global Electric Motorcars) in April. GEM makes low-speed electric vehicles.
Polaris said GEM and Goupil produce complementary vehicles.
In addition to Goupil and GEM, Polaris also bought iconic Indian Motorcycle Co. in April. Polaris already has its own line of Victory cruiser and touring motorcycles.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.