TEAM Industries Invests in Brammo, Begins Strategic Partnership
JUL 17 2014 BY MARK KANE
Electric motorcycle manufacturer Brammo announced that it entered into a strategic partnership with TEAM Industries. Both companies would like to to join forces to design and develop world-class electric vehicle drivetrains for the next generation of electric vehicles.
We are of course curious who could be the customers for those new drivetrains, but nothing more was revealed.
Part of the agreement is that TEAM Industries will become an investor in Brammo, however financial matters weren’t disclosed.
David Ricke, TEAM’s President and CEO, stated:
“We’re delighted to enter into this strategic partnership with Brammo. Both companies are innovators and we have a strong cultural fit between our two organizations. The electric vehicle market is a growth market, and TEAM and Brammo will be providing a wide range of solutions for OEM manufacturers. Brammo has developed motorcycle championship-winning EV technology, and we will be partnering with them to bring this technology to adjacent markets.”
Craig Bramscher, CEO and founder of Brammo Inc. commented:
“It is critical to our success that we continue to build our strong reputation for quality and innovation. TEAM Industries has an outstanding track record of developing and delivering performance and reliability-enhancing drivetrain components to OEMs. We are very excited to work with TEAM to create a broad range of EV drivetrain solutions for diverse markets around the world.”