Alta Motors Closes Up Shop

We've learned that Bay Area-based electric motorcycle company, Alta Motors, has closed up shop. Christian Hansen, Northwest Regional Sales Manager, confirms what multiple outlets are reporting, that the company sent staff packing as of 5 o'clock yesterday. Alta Motors will purportedly continue to seek funding.

Alta's story has been one of ups and downs. Earlier this year Harley-Davidson announced it would invest in the company as part of plans to develop a production H-D electric bike. However, at the end of August, just six months after the initial partnership was announced, Harley pulled out of the agreement. Not long after, H-D revealed that it's working to open a research and development facility in Silicon Valley.

Alta, meanwhile, was making waves with journalists and in competition. Reviews glowed over the Redshift MX and MXR earlier this year and back in June the company became the first electric team to qualify for the Erzberg Rodeo. The brand has competed in Supercross events overseas, Red Bull Straight Rhythm and EnduroCross also. The gumption to push this EV technology to its limit was definitely there.

And funding news also seemed bright at times in recent memory. Prior to Harley’s short-lived investment, Alta closed $27 million in funding from Grassy Creek Ventures. The company was able to expand R&D facilities and continue to develop its platforms.

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A sign of trouble was apparent in the dramatic price reductions of the Redshift MX, EX, and SM for 2018 though, with Alta cutting the MSRP by 30 percent for each. News at the time signaled the financial investments had helped Alta cut manufacturing costs, but such a dramatic change to the bottom line can't have helped in a market with a still very limited customer base.

But it appears it was too little, too late, at least for staff of the company. The plans to continue seeking funding offer some glimmer of hope on the horizon, though it’s little solace for fans and employees of the EV company many thought would become a significant player in the industry.