In a terse press release this morning, Bombardier Recreational Products (BRP) announced that it has acquired select assets of Alta Motors’ parent company Faster-Faster, Inc.
Those assets include “certain intellectual property, patents and some limited physical assets from the former all-electric motorcycle design and manufacturing company,” to put it in BRP’s words.
BRP plans to use these assets as part of its ongoing research into electric and hybrid drives for recreational vehicles, and hopes that the technology will help jumpstart its own efforts for electric transportation products.
The Canadian company is very quick to point out, however, that BRP has no interest in restarting operations of Alta Motors and assumes no liabilities.
From this news, we can assume that BRP acquired the IP related to Alta’s electric drivetrain technology, which it can use to electrify future models of its own design – likely side-by-sides and possibly Can-Am three-wheelers.
What is interesting about today’s announcement is that sources have told Asphalt & Rubber that BRP was the company that left Alta Motors at the altar late last year, when the San Franciscan startup was looking for investment, and saw an acquisition deal fall through at the 11th hour.
This of course led to Alta Motors ultimately closing its doors four months ago, as it exhausted its capital to continue regular business operations.
This development came a little over a month after Harley-Davidson and Alta Motors parted ways, which showed the first signs of trouble for the electric brand, as Harley-Davidson was a key investor and partner for future motorcycle collaborations.
Alta’s plan to close its doors to find an investor/buyer appears to have worked, though one has to wonder what today’s announcement looks like compared to any offers that were on the table last year.
To see BRP now acquiring assets from Alta’s remains is perhaps a common sight in business, but perhaps a more unfortunate end than what as a whole the motorcycle industry deserved for an outcome with this promising motorcycle manufacturer.
For Alta Motors, this surely signals the end of the road for the startup company, as it seems unlikely that an investor would choose to restart the brand without having access to its key technology components and talented staff. RIP Alta.
Source: BRP
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