The growth of electric vehicles is sustaining innovations worldwide, with new startup companies entering the space & other known brands entering lasting partnerships. That’s because, in the next decade, consumption behind electric vehicles will be forced in numerous countries worldwide. Companies are pre-emptively accounting for the market conditions by 2030.
Two companies have implemented this strategy, with Polaris announcing that they’ve entered a decade-long partnership with Zero Motorcycles. This partnership enables the two companies to co-develop electric vehicles & products at their Minneapolis-established manufacturing facility. It should be noted that Polaris designs snowmobiles & off-road motorcycles. However, Zero Motorcycles will likely release new models based on the technological growth of this partnership.
This exclusive partnership was detailed by Polaris, emphasizing that their agreement focuses on off-road motorcycles & snowmobiles. All models released will be designated under the REV’d-UP Program, which is Polaris’s long-term growth strategy towards the pursuit of electrification. Zero Motorcycles will provide Polaris with powertrain technologies, software support, and hardware components. Advancements made by Engineers employed with Polaris will be provided willing to Zero Motorcycles. Together, they’ll manufacture Electric Off-Roaders that plan to prioritize on market share by 2030. It should be noted that the first vehicle released by the Zero-Polaris-Partnership will debut by 2021.
Expansion & Development Funds
Polaris hopes that through this agreement, competing against Harley-Davidson in the electric motorcycle market won’t be challenging. Polaris has selected an opportune moment to become aggressive in their expansion, which has included the acquisition of Goupil, a firm which developers Electric Passenger Utility Vehicles. Combining this partnership with Zero Motorcycles & enabling new technologies through Goupil, gives Polaris genuine opportunity to compete against leading manufacturers like Honda or Harley-Davidson.
Distribution of network funds from Polaris are required, meaning finances for the Research & Development Department will become extensive between Mid-2020 to 2030. However, monetary losses associated with developing this partnership are negated by a prominent degree. Zero Motorcycles maintains extensive knowledge behind electric powertrains & motorcycles, meaning that delays related to R&D Education are eliminated by 25% to 30%. Millions are still required towards Research & Development, with no guarantees that this partnership will unleash successful products.