It’s Tuesday, and in the world of electrics that means another Zero Motorcycles press release, and another weekly confirmation that Asphalt & Rubber is still on the Santa Cruz company’s “ultra double-secret probation” list of publications that no longer get media communiqués and press invites to its media events. That clearly hasn’t stopped us though, as today’s news release confirms what we already knew: Zero Motorcycles CEO Gene Banman has stepped down from his position in the company, although he will continue to serve on the company’s Board of Directors.
We’ve gotten confirmation from several
Bothan spies sources that Zero Motorcycle CEO Gene Banman will no longer hold a position at Zero Motorcycles. We first reported on a management shake-up at Zero last month, with news that high-level changes at the Scotts Valley electric motorcycle company were underway. At the time we could only confirm that Zero Motorcycles founder Neal Saiki was out of his position as the company CTO, and now we can confirm that then CEO Gene Banman was also shown the door during that uprooting.
Using strictly the Charlie Sheen sense of the word, Zero Motorcycles is WINNING right now. Announcing today that it closed another round of financing, Zero has $17 million of a $26 million round confirmed ($9 million still outstanding). The funding continues to be lead by the Invus investment group, who have been the major financial backbone at Zero Motorcycles. A funding round of that size can only mean one thing for a motorcycle company: going into mass production. Surely enough Zero states its intended use of the funds will go towards ramping up its US-based production plans.
Out of all the electric motorcycle vehicle players, Zero has been the most active in the funding department lately, closing round after round of capital investment. With those investments we’ve already seen changes at the Santa Cruz company, with the 2011 Zero Motorcycles line-up featuring upgrade motorcycles, as well as founder Neal Saiki departing the company.
You can file this one under “news we broke a month ago,” but Zero Motorcycles has finally officially announced the departure of company founder Neal Saiki, despite sending an email to its employees last week that Saiki had not been sacked from his position.
According to Zero Motorcycles, Saiki is leaving his position to enter into the Igor I. Sikorski Human Powered Helicopter Competition, which Saiki first competed in while attending Cal Poly as aeronautical engineering student in 1989. However, our sources have told us Saiki’s departure was prompted by a fundamental shift in the company, precipitated by the Zero’s financial backers.
The news coming out of the Santa Cruz area today is that there’s been a management shake-up at Zero Motorcycles, as multiple people at the top of the company’s leadership have been given pink slips, including company Founder & CTO Neal Saiki. Recently talking to PlugBike.com‘s John Adamo, Zero Motorcycles CEO Gene Banman denied that Saiki had been let go from the company, saying that Saiki’s absence at the company was due to his child’s recent birth and Saiki’s desire to spend time with his newborn.
However multiple sources close to the company have confirmed to Asphalt & Rubber that Neal Saiki was a part of a larger management shake-up that was precipitated by the company’s lead investor. With many of the terminations expected to be finalized next month, and spanning more than one division at the California-based startup, there appears to be a considerable personnel and culture shift occurring at Zero at this point in time.
Fresh off its latest $2 million fundraiser, we get more news from Zero Motorcycles, as the Santa Cruz, CA company has released its 2011 line of electric motorcycles. Immediately noticeable is new livery and color schemes, but we think it’s the technical changes that will get people truly excited. Most prominant in the model year unveiling is the fact that every bike in Zero’s 2011 line-up can have a quick-charge option installed.
A major highlight, the quick-charge system will allow Zero Motorcycles with the add-on feature to be charged in nearly half the time of the standard version. Also a part of this technology’s allure is the ability for Zero Motorcycles to be charged off the J1772 public charging stations, which municipalities are starting to install in public parking spots.
Zero Motorcycle continues to raise money despite the wallowing economy, dropping another $2 million into its war chest during a $2.4 million round. The news of this funding comes shortly after we’ve gotten word that the Santa Cruz company plans on building a production facility for its electric motorcycles, and as of yesterday secured distribution in Mexico. While Zero hasn’t said what it plans to do with these newly acquired funds, we imagine the purpose will go something along the lines of the famous Daft Punk song “Harder, Better, Faster, Stronger”.
Your favorite electric motorcycle company from the sunny beach town of Santa Cruz is about to get some more international appeal, as Zero Motorcycles has announced today that it will expand its dealer network south of the border and into Mexico. Signing local distributor Dofesa Aventura (the Mexican distributor for Polaris and its Victory motorcycle brand), Zero’s S and DS models are immediately available for demo rides, and the rest of Zero’s line-up is expected to be available in the coming weeks.
This move continues Zero’s agressive international presence, as the brand already entered the European market back in 2008, and completes Zero’s presence in North America as Zero Motorcycles are already available in the United States and Canada as well.
Zero Motorcycles may not be amassing as large of a war chest as Brammo, but the Santa Cruz company is getting a lot of free money and help from its local governments. Scoring a $177,906 grant (free, as in beer, money) from the Monterey Bay Unified Air Pollution Control District (MBUAPCD), Zero intends to use the money to continue its R&D efforts in developing its drivetrain components. This money will be added to the $900,000 grant that the California Energy Commission gave Zero last much, whose funds were then matched by the City of Santa Cruz and other investors.
Zero Motorcycles has secured a $900,000 grant from the California Energy Commission for the company to begin development of a new advanced compact electric powertrain. The city of Santa Cruz is matching the grant with an additional $900,000; and with other contributions, Zero has raised a total of $1.84 million dollars. This figure would seem to be in addition to the $5.5 million the company raised earlier in the year. The powertrain Zero is developing is rumored to have multiple speeds, and we wouldn’t be surprised if it was water-cooled.