Greentech Lead America: GE Capital’s Commercial
Distribution Finance (CDF) business said it will provide inventory financing to
Brammo, a manufacturer and designer of electric motorcycles. The financing will
support the expansion of Brammo’s dealer network in the U.S.
“We’ve proven that we can successfully marry technology
with performance and now we’re ramping up our efforts to deliver our unique
products to the marketplace. This program with GE Capital will support the
rapid growth of our distribution network, allowing leading motorcycle
dealerships to capitalize on the growing demand for electric motorcycles,”
said Craig Bramscher, founder and CEO of Brammo.
CDF’s financial arrangement, also known as floorplan
financing, allows dealers to stock, market and sell a wide variety of
motorcycles and related products from manufacturers. It is an important element
of a successful manufacturer-dealer business model.
“Our deep expertise in the motorcycle sector leads
us to believe that dealers are excited about advertising these new products to
draw customers into dealerships. We’re glad to work with Brammo to drive the
adoption of electric vehicles,” said Neeraj Mehta, president and CEO of
CDF and a GE corporate officer.
GE owns one of the world’s largest vehicle fleets and
operates a leading global fleet management business, GE Capital, Fleet
Services. By 2015, GE has committed to purchasing 25,000 electric vehicles for
its own fleet and for those of its customers.
GE opens its Vehicle Innovation Center in Eden Prairie for
alternative fuel vehicles
GE Capital Fleet Services recently opened its Vehicle
Innovation Center, a facility that provides businesses, industry groups and researchers
with a first-hand experience with alternative fuel vehicles and enabling GE
technologies. GE Capital Fleet Services will run the center in collaboration
with other GE businesses and GE energy and transportation experts around the
world.