Polaris Industries On A Shopping Spree. After Indian, Acquiring Global Electric Motocars

The low-emission small vehicle market has a huge growth potential. And of course Polaris Industries want its market share. The company just announced an agreement to acquire Global Electric Motorcars LLC (GEM), a wholly owned Fargo, N.D. based subsidiary of Chrysler Group LLC and manufacturer of premium electric-powered vehicles.  GEM is the recognized leader within the low-speed vehicle market, with a well-respected brand and approximately $30 million in sales during the 2010 calendar year.  Since the company was established in 1998, they have placed over 45,000 electric-powered vehicles on the road worldwide.  GEM has developed business-to-business sales expertise within the fleet and government vehicle markets, and has created a competitive advantage with core competencies in make-to-order vehicle fulfillment and mobile service support.

GEM provides Polaris with an established position in the low-emission small vehicle market and supports Polaris’ strategy of penetrating on-road market segments poised for growth,” said Scott Wine, Polaris chief executive officer. “We are excited about the outlook for growth within this market space, and are looking forward to developing even stronger growth prospects for the GEM business.”
“Our vision is to accelerate profitable sales growth for GEM, by combining Polaris’ strength in new product innovation with the most-recognized brand in the low speed vehicle market space,” said Mike Jonikas, Vice President of the On-Road Vehicle Division.  “These new product efforts for GEM will be supported by an expanded distribution presence within select domestic and international markets.”
The agreement to acquire GEM will officially close within the next 60 days once Polaris secures the required state sales certifications to sell GEM products.  During this interim period, since Polaris will not yet have officially acquired GEM, operations will proceed as usual and Polaris will continue to learn and understand the GEM business through information exchange.  Following this interim period, Polaris will be in a position to outline specific plans for the GEM business.

9 Responses to “Polaris Industries On A Shopping Spree. After Indian, Acquiring Global Electric Motocars”

  1. 1 poppymann Apr 26th, 2011 at 8:28 am

    Those little vehicles are cute. Can I get one with a Hemi?

  2. 2 Mastiff Apr 26th, 2011 at 9:51 am

    Im waiting for polaris to purchase Big Dog Motorcycles
    and make some nice looking bikes

  3. 3 Jeff Nicklus Apr 26th, 2011 at 11:16 am

    I would love to have the “Pick up” version shown in the top picture ….. we could put one of our motors/transmissions in it and terrorize the ROT in June!

    Over & Out,


  4. 4 Wiz Apr 27th, 2011 at 3:54 am

    Waitin’ fer Victory’s custom version, with the aerodynamic fairing, Dove-tail rear end/saddle bags, stereo, criuse, buncha more horsepower [have it do, say…120 mph!] and radical paint ‘an grafics! Now were talkin’ my style!! Wiz

  5. 5 1550tc Apr 27th, 2011 at 10:13 am

    Great niche market, a buddy has a GEM, its not a razor but its a car super cool and fun to wheel around in.

  6. 6 jatinder pal Apr 28th, 2011 at 9:11 am

    Good business move by Polaris….

  7. 7 Englishman May 2nd, 2011 at 7:43 am

    I’ll look for the “Indian” version.

  8. 8 dragon May 3rd, 2011 at 5:34 am

    watch out there might be an electric indian on the way

  9. 9 R.Alan May 29th, 2011 at 4:04 pm

    hee hee hee @ electric Indian…

    Maybe they’ll also buy Excelsior Henderson and Ace motorcycles… Bring on the historic brands.

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Cyril Huze