Zero Motorcycles Gets $26M from Investor Group

Electric bike manufacturer Zero Motorcycles revealed today it has received an additional $26 million in financing from its investor group, led by Invus, LP. According to the company, $17 million have already been invested, with an additional $9 million to be added to that amount over the coming months as the company continues to grow.

Zero Motorcycles is headquartered near the city of Santa Cruz in Northern California, where Zero Motorcycles designs and assembles 100% of its world-wide production of motorcycles, of which over 50% are exported to Europe, Canada, Australia and elsewhere. The company has over 70 employees in California and Europe.

"With this investment, we will continue to ramp up our US-based production while rapidly expanding our global sales footprint. Our new 2011 lineup of California-designed and assembled electric motorcycles has been very well received by the market and press, and we intend to further accelerate growth and enhance our leadership position. We are continuing to commit significant R&D resources to our electric drivetrain technology, and are building the leading supply chain in the industry through our own efforts and our partnering with world-class suppliers. The company has the strong financial footing it needs to expand the business and move the state of electric motorcycle development rapidly forward," said Zero, CEO, Gene Banman.

"Zero Motorcycles is well positioned to lead the motorcycle industry in new directions where electric propulsion offers unique advantages over traditional gas-powered motorcycles. As Zero's electric powertrain technology continues to advance, we see the potential for Zero to make ever-increasing inroads in the motorcycle market,"
said Aflalo Guimaraes, Managing Director of The Invus Group.

Back in January, the electric motorcycle manufacturer announced a $1.84 million ‘next generation’ powertrain project, and that it plans to open a new motorcycle manufacturing facility that will more than double the company’s current production capacity.
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