Diversifying their portfolio of electric vehicle offerings, Polaris Industries recently purchased Goupil Industrie SA. The privately owned French manufacturer produces a line of light duty electric trucks for a variety of commercial uses. There were no comments by management on whether the Goupil product line would be exported to or produced in the US.
This is the third major transaction in the small electric vehicle space by Polaris this year following the acquisition of GEM and a major investment in Brammo, an electric motorcycle manufacturer known for electric powertrain expertise. The work and hauling oriented Goupil product line will complement the more people mover oriented GEM line. Goupil’s estimated annual sales of $25 million adds to the estimated $30 million in annual sales that Polaris gained from the GEM acquisition.
Comment: After testing the LSV market with their Breeze model for personal transportation and the electric UTV market with their electric Ranger, Polaris has now moved decisively into the space. Management sees the global market for small electric vehicles as a growth area and have executed on that belief by purchasing this manufacturer in France and initiating GEM distribution in India. Polaris now has a range of small EV product offerings spanning off-road and on-road, consumer and commercial, as well as work and transportation applications. Learn more: BizJournals.com
In related news, I noticed that Polaris also has a new website for GEM. On their home page it is accessible under the tab “Low Emission Vehicles” along with the Breeze LSV.