Polaris buying lowspeed electric car maker GEM from Chrysler

16 Июн 2014 | Author: | Комментарии к записи Polaris buying lowspeed electric car maker GEM from Chrysler отключены
GEM E2 Electric Cars

Polaris buying low-speed car maker GEM from Chrysler


Polaris Industries will low-speed electric vehicle Global Electric Motorcars a wholly-owned subsidiary of Chrysler for an amount. All Chrysler would us is that, It’s a confidential

Currently, GEM manufactures six street-legal well, they’re legal on with posted speeds of 35 per hour or less. To date, GEM its vehicles have tallied than 450 million emission-free

The agreement to acquire GEM should be within the next 60 days. this interim period, at GEM will proceed as usual. annual 2010 sales of $2 Polaris designs, engineers, and markets off-road vehicles including all-terrain vehicles snowmobiles and Victory motorcycles .

[Source: Polaris]

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Polaris to Acquire Electric Motorcars LLC (GEM)

future growth opportunities the low-emission small vehicle

MINNEAPOLIS—(BUSINESS WIRE)—Polaris Industries (NYSE: PII) today an agreement to acquire Global Motorcars LLC (GEM), a wholly Fargo, N.D. based of Chrysler Group LLC and manufacturer of electric-powered vehicles. GEM is the recognized within the low-speed vehicle with a well-respected brand and $30 million in sales during the calendar year. Since the was established in 1998, they placed more than electric-powered vehicles on the road

GEM has developed business-to-business sales within the fleet and government markets, and has created a competitive with core competencies in vehicle fulfillment and mobile support.

These new product efforts for GEM be supported by an expanded distribution within select domestic and markets.

GEM provides Polaris an established position in the low-emission vehicle market and supports strategy of penetrating on-road segments poised for growth, Scott Wine, Polaris executive officer. We are excited the outlook for growth within market space, and are looking to developing even stronger prospects for the GEM business.

Our vision is to profitable sales growth for by combining Polaris’ strength in new innovation with the most-recognized in the low speed vehicle market said Mike Jonikas, president of the On-Road Vehicle These new product efforts for GEM be supported by an expanded distribution within select domestic and markets.

The agreement to acquire GEM will close within the next 60 once Polaris secures the state sales certifications to GEM products. During this period, since Polaris not yet have officially acquired operations will proceed as and Polaris will continue to and understand the GEM business through exchange. Following this period, Polaris will be in a to outline specific plans for the GEM

More images and information on GEM available at: http://www.gemcar.com/media/default.asp?ID=308

GEM E2 Electric Cars


With annual 2010 of $1.991 billion, Polaris engineers, manufactures and markets vehicles (ORVs), including vehicles (ATVs) and the Polaris Side X Side vehicles, and Victory motorcycles for recreational and use and has recently introduced a new on-road powered neighborhood vehicle.

Polaris is a recognized leader in the industry; and one of the largest manufacturers of in the world. Victory motorcycles, in 1998 and representing the first American-made motorcycle from a company in nearly 60 years, are in-roads into the cruiser and motorcycle marketplace. Polaris enhances the riding experience a complete line of Pure apparel, accessories and parts, at Polaris dealerships.

Polaris Inc. trades on the New York Exchange under the symbol and the Company is included in the SP MidCap 400 price index.

Information the complete line of Polaris apparel and vehicle accessories are from authorized Polaris or anytime from the Polaris at www.polarisindustries.com.

About Global Electric LLC (GEM)

As a wholly owned of Chrysler Group LLC, Group Global Electric LLC (GEM) is the market leader in the Neighborhood Electric Vehicle industry and has more than GEM battery-electric vehicles on the road GEM cars are used by local, and national government agencies, master-planned communities, universities, and corporate campuses, as well as by teams, taxi-shuttle services and consumers.

The six GEM passenger and utility are legal on most streets posted speeds of 35 mph or less and many of the same features of cars, but are much more in price and fuel consumption. GEM are eligible for incentives and tax credits clean-air districts and other agencies.

To date, GEM cars have more than 450 million miles and have saved than 20 million gallons of They also have more than 190 tons of from reaching the air.

GEM E2 Electric Cars


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