Alta Motors Pulls the Plug

OCT 18 2018 BY RIDEAPART.COM 3

It ain’t easy being green

We always hear about electric vehicles startups sprouting like weed on the global market, but we rarely hear about what happens when things don’t work out. The electric motorcycle market could be losing a big player; Alta Motors has apparently stopped its operations.

According to an anonymous source cited by Asphalt & Rubber, the grass isn’t so green for Alta. Despite launching a well-received range of off-road dedicated electric bikes, the company seemingly hasn’t managed to keep its head above the water. In fact, the company is believed to have stopped its operations, at least for the time being.

According to the same source, Alta’s current plan is to look for investors or for a buyer. As things currently stand, there is no talk of shutting the company down. Earlier this year, Harley-Davidson had shown interest in investing in the electric bike startup but decided instead to build its own R&D center in Silicon Valley, pulling out of the deal.

The decision to halt operations has been made by the company some time ago and could allow its team to find decent funding to kickstart production once more. A number of investors have shown interest in injecting money into the promising company, however, these deals are also believed to have fallen through.

The news comes as a bit of a shock as Alta was showing promising results for the first half of 2018 with over 1,000 units sold and a network of 70 dealers introducing the well-garnished electric lineup to potential customers. The market for electric motorcycles is still very small and solid foundations are required to pull through and stand out from an incredibly large pool of competitors. By seeking out investments, this is what Alta will hopefully do: solidify its foundations.

There is no say at the moment whether more investors or interested buyers have stepped forward, but we will keep you updated as we learn more about Alta Motors’ situation.

Sources: RacerX Online

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3 Comments on "Alta Motors Pulls the Plug"

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sveno

Shocking indeed! They were showing a ton of progress both in terms of specs and results.

wavelet

“The electric motorcycle market could be losing a big player”
Huh? In no way, shape or form could Alta be described as “big”.
There are _no_ big, or even medium players in this market.

I wasn’t aware of the H-D investment falling through — that’s too bad.

Currently, the largest electric motorcycle operation (as opposed to e-scooters, of which there are many in China) is Zero, which only makes ~2K bikes/year. All others are negligible, and mostly nonexistent.

Dav8or
It should be noted that motorcycle sales, particularly off road motorcycles have fallen off a cliff. Dirt bike sales has always relied on- start ’em young, get ’em hooked and they will stick with it for decades, then their kids will start up. The problem is, the bulk of the millennials seem to have zero interest in the motorsports. Even if their parents started them young, they have quit and would rather ride a dirt bike on their phone then actually grip the handlebars. Of course this isn’t true for all millennials, some still want to ride, but enough don’t that the power sports business is suffering. Given that the Alta bikes are over priced and under performing to their ICE counterparts, makes them even less likely to survive this downward trend. The only road forward for electric motorcycles at this point is in urban mobility scooters and small urban street bikes. Alta needs to swallow hard and ditch the dirt bikes they love so much and move to the street. Of course that is very tough because there are a million other coma pies and start ups doing the same, some of them Chinese with lots of resources. It’s… Read more »