Damon Motors Exceeds $90M Order Backlog; Company Eyes Potential $250M Signed Customers Globally

Rhea-AI Summary

Damon Motors, an electric motorbike company, has surpassed a $90M global order backlog, expecting to exceed $250M through international partnerships, notably with Auteco. Their advanced EV motorcycles feature innovations like HyperDrive™ and Co-Pilot™, aiming to replace gas-powered bikes. The company is scaling up production with a new 108,000 sq ft facility in Vancouver, Canada, and a pilot facility in San Rafael, California, preparing for over 3500 waiting customers. Damon targets producing one million units annually to significantly reduce emissions and enhance motorcycle safety.

Positive

• Exceeding $90M order backlog, with potential to reach $250M.
• Innovative technologies like HyperDrive™ and Co-Pilot™ enhance product appeal.
• Plans for a 108,000 sq ft manufacturing facility in Vancouver to scale production.
• Strong demand evidenced by over 3500 waiting customers.

Negative

• None.

Production Preparations Underway for 2023 Deliveries

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Damon Motors, the premier EV motorbike company, today announced its order book has exceeded a $90M order backlog to date globally with the potential of exceeding $250M through international partnerships, like the one with Latin America’s Auteco. The makers of the first EV motorcycle capable of outperforming the best gas-powered superbikes, Damon’s products boast never-before-seen technology advancements including HyperDrive™, Co-Pilot™ and Shift™, designed to solve problems experienced across every other motorcycle in the world. Combined with its astonishing 200 hp / 200 mph / 200 miles of range, Damon motorcycles represent the first breed of bikes ready to displace combustion two-wheelers and lead the industry into a greener future.

Damon’s award-winning electric superbikes, including HyperSport and HyperFighter, offer unparalleled safety, comfort, 5G connectivity and performance with groundbreaking technology and zero tailpipe emissions. With over 3500 waiting customers, the company is furiously preparing its pilot production facility in San Rafael, Calif. for its California customers, where over 25 percent of Damon’s orders currently reside. To prepare to scale manufacturing, Damon has also leased a 108,000 sq ft facility in Vancouver, Canada, being readied for world production. (Photo: Business Wire)

“You can’t be the future of anything if you’re not better than the past,” says Co-Founder and CEO Jay Giraud. “It was necessary for us to target performance metrics as good or better than anything achieved before, otherwise people aren’t going to go electric in any meaningful numbers. This is the fundamental Achilles’ heel in the two-wheel EV industry so far. Nobody will trade in for an electric motorbike if it’s not as good as what they already have—people want to trade up.”

With over 160 million motorcycles produced annually, the industry is responsible for being the 2^nd worst emitter of greenhouse gas emissions. Yet this staggering figure is overshadowed: motorcycles on average produce 16 times more hydrocarbons than passenger cars, which are outnumbered by motorcycle usage daily. To compound matters, a report from Ian Savage at Northwestern University finds today’s motorcycle accidents account for 212 deaths per one billion passenger miles, compared with cars at just seven. The majority of these accidents occur in intersections caused by car drivers, but are also attributed to a lack of evasive action by motorcycle riders. It was these facts combined with his passion for motorcycling that led Mr. Giraud and Co-Founder Dom Kwong to found the company.

“We have to get to one-million units annually to put a dent in the industry and change it forever,” adds Giraud. “By coupling high-volume production with our 5G connected, sensor-enabled, self-learning compute system, we can make it so that every mile ridden on a Damon motorcycle makes all other Damon motorcycles smarter and safer with over-the-air updates. We can cause the accident rates to perpetually fall over the coming decade. This is our 2030 goal.”

With over 3500 waiting customers, the company is furiously preparing its pilot production facility in San Rafael, Calif. for its California customers, where over 25 percent of Damon’s orders currently reside. To prepare to scale manufacturing, Damon has also leased a 108,000 sq ft facility in Vancouver, Canada, being readied for world production.

DAMON: TRANSFORMING ELECTRIC MOTORCYCLES

Damon’s award-winning electric superbikes, including HyperSport and HyperFighter, offer unparalleled safety, comfort, 5G connectivity and performance with groundbreaking technology and zero tailpipe emissions. Proprietary features include its CoPilot™ 360º advanced warning system, complete with a 7” LCD display that streams a rearview from the rear-facing camera; Shift™, which transforms the riding position between sport and commuter modes while in motion; and HyperDrive™, the world’s first monocoque constructed, 100 percent electric, multi-variant powertrain platform, which enables Damon to rapidly introduce new models that share 85 percent of the parts of its sibling models. By using the frame of the battery as the motorcycle’s chassis, HyperDrive has also achieved unprecedented weight advantages, which allows it to yield breakthrough levels of energy density, leading to its 200 miles of combined city/hwy range capability. At 201 Wh/kg, this represents almost double the energy density per pound of weight than its competitors Zero and Livewire (NYSE:LVWR). In short: more miles per dollar.

Coupled with Damon’s proprietary 150 kW 6-phase liquid cooled IPM motor-gearbox, Damon’s HyperSport and HyperFighter deliver earth shattering numbers: Over 200 hp and 230 nm of torque, capable of spinning up to 18,000 rpm. At 754 W / Kg, the motor delivers more than double the power per pound of weight than a Tesla motor, and more than triple its competitors Zero and Livewire (NYSE:LVWR).

About Damon Motors

Damon Motors is a global technology leader disrupting urban mobility. With offices in San Rafael, California and headquarters and manufacturing in Vancouver, Canada, Damon is on a mission to cause a paradigm shift for safer, smarter motorcycling. The company is delivering on its promise with award-winning innovation and unprecedented technologies. Anchored by its proprietary electric powertrain, HyperDrive™, Damon has captivated the motorcycling world by delivering earth-scorching speed, ferocious design, and epic new features, including CoPilot™ and Shift™, that are attracting an entirely new generation of riders. With rapid market adoption from eager buyers in the US and abroad, Damon is setting a new standard for motorcycle safety and sustainability worldwide.

For more information on how Damon technology is defining the new industry standard, please visit damon.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005393/en/

Media Contact

Donna Loughlin Michaels

LMGPR

408.393.5575

donna@lmgpr.com

Source: Damon Motors

FAQ

What is Damon Motors' current order backlog as of 2023?

Damon Motors has surpassed a $90 million order backlog.

What are the innovative features of Damon Motors' electric motorcycles?

Damon's motorcycles include HyperDrive™, Co-Pilot™, and Shift™, offering advanced performance and safety.

Where is Damon Motors expanding its production facilities?

Damon Motors is expanding production with a 108,000 sq ft facility in Vancouver, Canada, and a pilot facility in San Rafael, California.

How many waiting customers does Damon Motors currently have?

Damon Motors currently has over 3500 waiting customers.

What is Damon Motors' goal for annual production?

Damon Motors aims to produce one million units annually to impact the motorcycle industry.