Polaris is one of the world’s leading names in snowmobiles, SUVs, ATVs and other recreational vehicles.
During the coronavirus pandemic, sales soared despite supply chain and logistics issues.
The company has also partnered with the Zero Motorcycles all-electric brand, allowing Polaris to use Zero technology on Polaris off-roaders. Analysts say the deal will cut the cost of developing electric vehicles – which are expensive – while expanding Polaris’ customer base and attracting new groups of investors passionate about electric vehicles and their market potential.
Many industry experts in the automotive world still think that the all-electric future car drivers that is sometimes talked about has a few more years to offer. Perhaps this applies even more to the recreational vehicle segments in which Polaris plays.
The range and charging time issues that keep some buyers from buying electric cars, trucks and SUVs are perhaps even more concerned with those driving off-roaders to remote areas where power outlets are hard to find.
But electric snowmobiles and SUVs are attractive to customers. One reason: they are quiet. An electric snowmobile or side-by-side is less likely to scare livestock on a farm or wild animals in a forest.
That is something many Polaris customers say they can benefit from this.
If that turns out to be true, electrical technology may be another way for Polaris to sustain some of the success of the past few years.