It also raised additional funding so it can stick to its production timeline.
It’s been nearly five months since we last heard from Damon Motorcycles. At the time, the company was rounding out a 2020 full of frenetic activity by announcing the launch of its two new entry-level models, the Hypersport SE and SX. While the top-of-the-line Hypersport Premiers sold out in just four days, they also cost $39,995 each. By contrast, the SE and SX both sit comfortably below $20K due to their use of lower-capacity batteries.
On March 10, 2021, Damon Motorcycles announced that it’s raised an additional $30M in funding, on top of reaching $20M in presales on its entire existing Hypersport lineup. The company’s existing timeline sees volume shipment of Damon motorcycles rolling out to customers in 2022. Securing this additional funding should help make it all happen.
“We have unveiled the future of two-wheel transportation and yielded high demand in North America and Europe, validating the market need for high-performance electric motorcycles,” Damon Motorcycles founder and CEO Jay Giraud said in a statement.
“On the back of this demand, Damon will produce an entire line of medium- and high-performance motorcycles over the next few years, with HyperDrive serving as the core of each model.”
Turning Damon’s electric future into reality involves bringing additional personnel into the mix. That includes new Board of Directors members Jaques Clariond and Howard Wu. Some of that additional $30M in capital raised by Damon will also go toward pre-production development, testing, and finding the best people to fill jobs in both those categories.
There’s still almost an entire year before Damon’s current timeline estimates that its bikes will roll out to customers. So, it’s good to check in and see that forward momentum is moving along. Will these admittedly striking bikes live up to expectations? We have several months to wait before we’ll know, but a little bit of anticipation is good for you, right?