Published on November 20th, 2013 | by Important Media Cross-Post1
Brammo Prepares IPO While Considering An Electric Car
November 20th, 2013 by Important Media Cross-Post
Originally published on Gas2.
By Christopher DeMorro.
While a lot of focus has been on electric vehicle sales of the four-wheeled kind, electric motorcycle sales have been slowly but steadily rising year after year. Oregon-based electric motorcycle maker Brammo is looking ahead to 2015, when the company plans to launch an IPO to raise $150 million to finance their next project; an all-electric sports car.
Brammo CEO Craig Bramscher told a gathering of green reporters and sustainable business leaders that he has high hopes of moving Brammo forward into bigger markets. While Brammo has put both its Empulse and Enertia models into the market, like most other private companies Brammo hasn’t released sales numbers. By 2015 the hope is that sales will be respectable enough to lure in lots of investors.
The goal is to eventually raise $150 million to expand operations, marketing, production, and sales… as well as to launch an all-electric car. Bramscher says that the prototype is 85% complete, and methinks the Brammo CEO is looking at Tesla’s incredible sales with envious eyes.
Perhaps he should get Brammo’s electric motorcycle business in firm footing first though.
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