A report from the U.S. today says Alta Motors has sent employees home after ceasing production at its Californian plant.
Business operations at Alta have stopped as the electric motorcycle manufacturer seeks further funding, according to Asphalt & Rubber’s report.
“Talking to an anonymous source, Asphalt & Rubber has been told that Alta Motors is in the midst of a strategic wind-down, as it looks for an outside acquisition or investment,” says the article.
Dirt Bike Rider was told by an industry insider earlier this month that ordering electric bikes from Alta had become difficult. There has been no official news coming out of the company itself.
The news comes not long after Harley-Davidson had announced that it would create an electric motorcycles research and development operation of its own in the San Francisco Bay Area, ending any investment proposals with Alta Motors.
Asphalt & Rubber say that Alta has since been looking for investors and they have also been involved in talks that included the sale of the business. The report says Alta’s strategy may well pay off. “Alta Motors was in the midst of a stellar year, showing 50% growth quarter-to-quarter in 2018, with roughly 1,000 units sold to customers this year so far, and a backlog of 300 units or so still to work through,” says the report.
Alta Motors was to be once again represented at Red Bull Straight Rhythm with Darryn Durham to take on the half-mile head-to-head supercross track this weekend at Fairplex in Pomona, California. As far as we know this development hasn’t hit the RBSR entry.
There is no news on the backlog of orders, which leaves both buyers and employees of Alta in uncertain times.
This is a developing story and we will update here when we learn more.
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