Brammo making plans for IPO, mulls electric sports car
The company founder, speaking at the Portland Business Journal Power Breakfast, said he hopes to take the Oregon-based company public by mid-2015, Sustainable Business Oregon reports. He added that he'd like to raise about $150 million in private funds (or about eight times what it's raised so far) before the IPO, then another $150 million with the offering.
The funds would be used to expand production of its electric motorcycle business, but Bramscher also has another project in mind – an electric sports car. The company has a prototype sitting in storage that is said to be about 85 percent complete.
Brammo first announced its Empulse electric motorcycle in July 2010 and began delivering bikes to the public late last year. The Empulse R can top 100 miles per hour and has a single-charge city-range of 121 miles. The company also suffered a bit of a setback this past summer when a fire at its facility in Ashland, Oregon, caused more than $200,000 worth of damage. It has since moved its operations to the town of Talent, where it inhabits a 100,000 square foot former Wal-Mart.
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