Interesting news today on the business front of the powersports industry, as Tenneco Inc. announced its intention to purchase Öhlins Racing A.B. for $160 million.
The move would see Tenneco own a majority stake in Öhlins, while a minority position in the company would remain with founder and namesake Kenth Öhlin.
The move is an interesting one since Tenneco has been in the suspension business before, owning the Marzocchi suspension brand.
The Volkswagen Group got a new CEO last week, and in less than seven days, that news has already sparked renewed rumors in the German automobile conglomerate divesting itself of Ducati Motor Holdings.
For those who have been following Ducati’s saga, there was much talk last year of Volkswagen selling off a number of its other brands, all under the reasoning that the German company would need to raise capital to cover its mounting Dieselgate liabilities.
There was a fly in the ointment though: Volkswagen’s labor unions, who control half of the VW Group’s board seats, and were vehemently opposed to any brand divestitures.
Because of the unions, any sale – including Ducati’s – was a non-starter for the Volkswagen executives, though that didn’t keep the warring factions from trying. By the end of last year though, it seemed we had put this issue to bed. 2018, however, is a new year.
Cummins is better known for its diesel truck engines, but the Fortune 500 company makes its money from also selling generators and alternative energy power sources.
So maybe, it shouldn’t come as a surprise then to learn today that Cummins has acquired Brammo, Inc. and its electric drivetrain business.
Before we should go further, we should point out that Polaris still owns Brammo’s motorcycle business, which it bought separately back in 2015, and that this purchase by Cummins applies only to the parts of Brammo that Polaris didn’t buy, including Brammo’s race bike, the Empulse RR.
We broke the news last week that helmet tech-startup Skully was rising from the dead, and today we have more news from Skully Technologies and how it plans to correct the wrongs of its predecessor.
In a letter to its “SKULLY Nation”, Skully Technologies lists how various backers of Skully’s Indiegogo campaign will be treated under the new company.
While the plan lists several bullet points for the various supporter levels, along with caveats, the short version is that Skully Technologies will honor all of the Indiegogo campaign promises make by Skully, Inc, substituting the Skully AR-1 helmet with the new Skully Fenix helmet, of course.
Sending out a blast to the “Skully Nation” email list, the brand’s new owners Ivan and Rafael Contreras, have announced their plans to revive this seemingly dead project.
One can barely fathom why someone would want to continue a project that so obviously was doomed to its own failure, and that also so grossly betrayed the goodwill of the motorcycle community; and yet, here we are, with Skully Technologies taking over where Skully, Inc. left off.
The presumption of this news is that the new management hopes to bring the AR-1 helmet, with its heads-up display technology, to market.
The announcement goes on also to say that Skully Technologies will leverage augmented reality, virtual reality, and artificial intelligence technologies for the wearable products industry – a nod to the three hottest technology sectors in Silicon Valley at this moment in time.
For the past few months, talk of Ducati’s divestiture from the Volkswagen Group has grabbed the attention from news outlets and Ducatisti alike, as the future of the Italian motorcycle company seemed uncertain.
Internally, a power struggle was a play, with Audi keen to unload Ducati from its books, but lacking the support from upper management in the Volkswagen Group.
Talks reportedly hit the skids once it was realized that the Volkswagen labor unions, which control half of the seats on the Volkswagen Group management board, weren’t onboard with divesting Ducati from the holding group.
This is probably information that investors would have liked to know, before they spent the time and resources putting together purchase proposals for Audi’s consideration.
Now, with no change in the position of VW’s labor unions, and with the possibility of an internal consensus seemingly out of sight, it seems talk of Ducati’s divestiture have stalled, with little chance of them resuming this year.
There has been a lot of rumor as of late, about whether Ducati is for sale, and who would be a potential buyer of the iconic motorcycle brand. We have seen just about every large motorcycle manufacturer at some point has been linked to buying Ducati Motor Holding, and now we can add another: MotoCorsa.
That’s right, the top Ducati dealer in the United States is throwing its hat into the ring, and looking to other Ducati owners to help crowdsource the $1.6 billion likely needed to wrestle away the Ducati brand from its owners at Audi AG.
Dirt Quake, the grassroots flat track event, has been acquired by North One TV. The transaction sees North One TV acquiring both the Dirt Quake name, and the Dirt Quake events, with the core Dirt Quake team, including Gary Inman, staying on for the foreseeable future.
North One says that with the acquisition the media company plans to grow Dirt Quake internationally, with Dirt Quake already hosting popular events in the UK, Europe, and United States.
Presumably this means an expansion of Dirt Quake events into new markets, where flat track racing is already popular.
I woke up this morning to a message from a colleague, with a link to a story that linked Royal Enfield to buying Ducati Motor Holding. The story was from a fairly reliable news publication, but the headline read “Royal Enfield Might Consider Buying Ducati Pretty Soon” – the grammarist in me cringed.*
“Might consider” is the most nebulous phrase in the English language. Let’s think about that phrase for a moment, as it literally means that you are considering the possibility of considering something. Don’t get me started on the timeliness of “Pretty Soon” in the news realm, as well.
Metaphysics and meaningless headlines aside, for our purposes this narrative devolves further in that this story offers nothing new, beyond the story that Reuters published two weeks ago, which set off alarms in the motorcycle industry around the world.
News from across the pond indicates that the historic BSA motorcycle brand has been acquired by Indian motorcycle manufacturer Mahindra.
According to the newswires, Mahindra & Mahindra Limited (through a subsidiary named Classic Legends Private Limited) acquired 100% of BSA Company Limited for the tidy price of £3.4 million, or $4.1 million (at the time of this writing).
I had to check the A&R archives to see if we have even mentioned Lit Motors before, mostly because the the San Francisco startup has been slow to develop its self-balancing motorcycle, and I’m not terribly bullish on the project.
That doesn’t mean the concept is without merit though, and its apparently caught the interest of Apple. If that sounds strange to you, then you need to understand that Apple, along with a bevy of other tech giants, is working on an autonomous car for the masses.
This “Project Titan” as it’s called, has already seen Apple poach a couple of Lit Motors’ personnel, and now the most valuable company in the world is looking at acquiring Lit Motors, and/or other automotive entities, according to the New York Times.