26 Apr '11, 9pm

Polaris buying low-speed electric car maker GEM from Chrysler

Polaris buying low-speed electric car maker GEM from Chrysler

Polaris to Acquire Global Electric Motorcars LLC (GEM) Provides future growth opportunities within the low-emission small vehicle market MINNEAPOLIS--(BUSINESS WIRE)--Polaris Industries Inc. (NYSE: PII) today 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 more than 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 fu...

Full article: http://green.autoblog.com/2011/04/26/polaris-buying-gem-f...

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