July 17th, 2012
The Ashland, Oregon electric motorcycle company Brammo Inc. has been rapidly growing. One item they have been missing is a large dealer network to expand. GE Capital has agreed to provide the funding for the inventory needed to expand nationally.
Brammo designs and manufactures several models of electric motorcycles. Other companies with interest in Brammo include Polaris (Victory Motorcycles), Best Buy, Chrysalix and Alpine Energy. They currently manufacture the Encite, Enertia, Empulse, and Engage motorcycles.
GE Capital's Commercial Distribution Finance (CDF) has provided the funding in accordance with GE's commitment to help accelerate the adoption of alternative fuel and hybrid vehicles.
"Our deep expertise in the motorcycle sector leads us to believe that dealers are excited about advertising these new products to draw customers into dealerships," said Neeraj Mehta, president and CEO of CDF and a GE corporate officer. "We're glad to work with Brammo to drive the adoption of electric vehicles."
Craig Bramscher, founder and CEO of Brammo said, "We've proven that we can successfully marry technology with performance and now we're ramping up our efforts to deliver our unique products to the marketplace. This program with GE Capital will support the rapid growth of our distribution network, allowing leading motorcycle dealerships to capitalize on the growing demand for electric motorcycles."
Ge Capital is no stranger to the world of motor vehicles, since they maintain one the largest fleets of vehicles in the world. Ge has committed to buying 25,000 electric vehicles for it's fleet by 2015. They also have financed more than 30,000 businesses worldwide to the tune of $32 billion in 2011 alone.