BRP (TSX:DOO, NASDAQ:DOOO) has announced the purchase of select assets of Faster Faster, Inc. (Alta Motors) as part of BRP’s longstanding interest in new technologies and alternate energy sources for the powersports industry.
This purchase includes certain intellectual property, patents and some limited physical assets from the former all-electric motorcycle design and manufacturing company. It is an opportunity for BRP to complement its ongoing research and development into this burgeoning area of expertise. BRP has no interest in restarting operations of Alta Motors and assumes no liabilities.
Known for pushing innovation to improve the rider experience, BRP is constantly on the lookout for the next generation of powersports solutions. BRP has already commercialized electric side-by-side vehicles for a number of years, has created electric and hybrid prototypes of Can-Am Spyder vehicles and is currently involved in electric karting with Rotax.
