BRP COMPLETES THE ACQUISITION OF GREAT WALL MOTOR AUSTRIA
BRP Inc. has successfully completed the acquisition of Great Wall Motor Austria GmbH, an esteemed electric vehicle research and development center located in Kottingbrunn, Austria. This strategic move aims to bolster BRP's capabilities in e-drive systems and transmissions. With this acquisition, BRP-Rotax anticipates leveraging the expertise of the new team to enhance its electric vehicle technology across existing and future product lines.
- Acquisition of Great Wall Motor Austria enhances BRP's expertise in electric vehicle technologies.
- Strategic expansion into e-drive systems and transmissions supports future product development.
- None.
VALCOURT, QC, July 27, 2022 /PRNewswire/ - BRP Inc. (TSX:DOO; NASDAQ:DOOO) announced today that it has completed the previously announced acquisition of Great Wall Motor Austria GmbH, a subsidiary of Great Wall Motor.
This leading EV R&D centre based in Kottingbrunn, Austria, specializes in e-drive systems and transmissions.
BRP-Rotax is pleased to welcome these new highly skilled colleagues and looks forward to joining forces with them. Together, they will work on building the BRP EV technology for existing product lines and upcoming product introductions.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain information included in this release, including, but not limited to, the anticipated benefits associated with the completion of this acquisition, the Company's business and strategic plans, and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP's annual information form dated March 24, 2022.
About BRP
We are a global leader in the world of powersports products, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel portfolio to fully enhance the riding experience. With annual sales of CA
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
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SOURCE BRP Inc.
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