Press release Polaris, Griesheim, March 1st, 2021
Electrifying events are casting their shadows: Polaris Inc. (NYSE: PII) is pressing ahead with its electrification strategy rEV’d up at full speed. This year the brand will unveil the completely new, all-electric RANGER: the world premiere of the full-size side-by-side is planned for December 2021. The power-driven RANGER is scheduled to start at Polaris dealers as early as the beginning of 2022. It is the first model to be created as part of the partnership with Zero Motorcycles®.
Background: In September last year, Polaris and Zero Motorcycles® agreed an exclusive partnership for the joint development of all-electric off-road vehicles and snowmobiles. The California-based company is one of the world’s leading suppliers of electric motorcycles and electric drive systems.
“With the rEV’d up strategy, Polaris is writing the next chapter as an innovation driver in the powersports segment,” emphasizes Mike Speetzen, the interim CEO of Polaris Inc. “Electric vehicles are enjoying increasing demand. We are making targeted investments in the electrification of our model range, thereby fulfilling the wishes of current and future generations of customers. The all-new, all-electric RANGER underpins our claim to establish Polaris as a leading supplier of electric vehicles in the powersports sector. “
As part of the rEV’d up strategy, the brand wants to offer its customers a model with electric drive in all core segments by 2025. The all-electric RANGER marks the start of this new era. The development of the completely new side-by-side with electric drive is currently in full swing in North America.
“Thanks to the strong partnership with Zero Motorcycles® and our own investments, we are rapidly driving the development of electric drives and leading the off-road industry into the future,” said Mike Donoughe, Senior Vice President and Chief Technical Officer at Polaris Inc. ” The all-electric RANGER will be one of the most technically advanced off-road vehicles on the market. With this model, Polaris is further expanding its position as an innovation leader in the powersports segment. “
Steve Menneto, President of Polaris Off Road, added: “The RANGER is our best-selling off-road model. With amazing versatility, impressive robustness, high comfort and innovative driver-oriented solutions, it traditionally sets the standard for UTVs. Thanks to the new, all-electric drive, the entire series has reached a whole new level in terms of versatility and durability, as well as in terms of performance. “
When developing the new RANGER with electric drive, the focus was on user requirements: “We asked our customers specifically about their needs. Many wanted even more performance and an additional plus in functionality, ”Menneto outlines. “They also expressed some very specific expectations of a future commercial vehicle with electric drive. With the new, all-electric Polaris RANGER, we are expanding our model range to include a state-of-the-art full-size side-by-side, which perfectly meets all of these customer requirements and also impresses with further improved off-road properties. “
ABOUT POLARIS INDUSTRIES INC
Polaris was founded in Minnesota, USA in 1954 and is a leading supplier of powersports vehicles with annual sales of $ 6.8 billion in 2019. Polaris develops, designs, manufactures and markets innovative, high-quality off-road vehicles such as All-Terrain Vehicles (ATVs), the side-by-side utility vehicles Polaris RANGER® and sports vehicles RZR®, snowmobiles, motorcycles and small street vehicles with electric or hybrid drives. Polaris is one of the world’s best-selling suppliers of snowmobiles and off-road vehicles and, with its Indian Motorcycle brand, has a strong presence in the markets for medium and heavy cruisers and touring machines. In addition, Polaris consistently invests worldwide in companies that manufacture small street-legal vehicles with electric or hybrid drives. These include brands such as Global Electric Motorcars (GEM), Goupil Industrie SA, Aixam Mega SAS and in-house developments. To enhance the driving experience, Polaris offers a full line of Polaris designed parts, accessories and apparel, along with a growing aftermarket portfolio including TransAmerica Auto Parts. Polaris Industries Inc. shares are traded on the New York Stock Exchange under the symbol “PII”. Polaris is a member of the S&P Mid-Cap 400 stock exchange index. Information on the local Polaris product range, including clothing and vehicle accessories, is available from Polaris authorized dealers and on the Polaris websites: www.polarisgermany.de and www.polarisaustria.at.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our current expectations and beliefs. These forward-looking statements, including those relating to delivery dates, product performance expectations and strategic expectations, are subject to certain risks and uncertainties that could cause actual results to differ materially from the possible results expressed in the forward-looking statements. In particular, our forecast of delivery dates, product performance and strategy could be influenced by numerous factors. These include: the intensity and duration of the COVID-19 pandemic and the resulting impact on the company’s business, supply chains and the global economy; the company’s ability to successfully source required parts and materials and its ability to manufacture and deliver products to dealers in a timely manner to meet demand; Delays in product development, testing and validation; economic conditions affecting consumer spending behavior; Malfunctions in the production facilities; Activities related to environmental law and product safety that affect commercial vehicles; Weather influences; Raw material costs as well as freight and customs costs. The company has no obligation to anyone to update its forward-looking statements. We encourage you to also review our Risk Factors on our Form 10-K and see any additional information on related matters in future quarterly reports on Form 10-Q and current reports on Form 8-K filed with or with the Securities and Exchange Commission are deposited.