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ZERO MOTORCYCLES REFINANCED

California-based electric bike manufacturer Zero Motorcycles has just completed a new funding round worth £97m. Raising this latest tranche of capital saw participation from strategic partners Polaris, Exor and Hero MotoCorp, and other investors including major private equity backer Invus.

Effusive in acknowledging the advantages it will bestow, Zero Motorcycles chief executive Sam Paschel said: “This will fund the global scaling of our operations and sales, and development of additional new models to continue driving our rapid growth. We welcome strategic partners and new investors to our syndicate and are grateful to Invus for its steadfast support and commitment to Zero’s vision and mission.” 

According to Paschel. Zero has defined the category of premium electric motorcycles and powertrains since its launch in a humble Santa Cruz garage 16 years ago. “We have sold more than 20,000 vehicles and accumulated over 165 million miles of on-road and off-road experience,” he claimed. “The company has also built an innovative, global brand that is highly respected in the industry.”

The business now has three strings to its bow — consumer-oriented road, adventure sport and dual sports machines, fleet sales to more than 200 police departments and authorities, and powertrains for the electrification of products made by its partners.

With this latest financial input, Zero has accrued capital in excess of £400m and Paschel plans to take that total to above £450m with an anticipated additional funding round by the year end.

$-£ currency translation at forex rates applicable on 29 September.

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