Morning Steemers,
So the day starts off with some bad news for a change, it seems a news report has surfaced that Alta Motors has ceased operations in an attempt to potentially stay afloat as a company while they search for a new investor or a company sale.
The US based company has had great reviews and was well received throughout the Supercross/ Motocross world by everyone who rode the bike. That being said, starting up any company is a hard road to tread and especially one manufacturing cutting edge vehicles. It could take years or even decades to recover the initial set up costs and push the company into profitability.
They are a well known company though with pedigree and the product has been proven on some big platforms so far. Josh Hill had some great success with the bike when they entered the 2016 Red Bull Straight Rhythm and went up against traditional Motocross bikes.
Josh Hill - Alta Motors - Red Bull Straight Rhythm prep 2016
This does not mean that it's over for the Californian based company though as per the report posted:
"Now with Alta’s business operations shuttered, the company has effectively ended its burn-rate of capital, which allows Alta Motors time to field serious offers of investment and acquisition.
This plan could very well payoff, as Alta Motors was in the midst of a stellar year, showing 50% growth quarter-to-quarter in 2018, with roughly 1,000 units sold to customers this year so far, and a backlog of 300 units or so still to work through."
I do know that Harley-Davidson pulled out from a possible investment plan with Alta and have now decided to build it's own facility in the Silicon Valley area, which coincidentally is also where Alta are based.
I hope Alta can turn this around as not only is it a good thing to see companies innovating in this space but also good to see smaller companies doing well. Fingers crossed for them as i have a feeling that they could take down the idea of electric Motocross with them if they fail...
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