Motorcycles are much greener in terms of emissions than cars and trucks thanks to their light weight and efficient aerodynamics. Electric motorbikes, of course, are even more so.
For several years, Canadians have been excited about a locally crafted machine that promised to make electric mobility fun, safer, and future-forward. And after years of various delays, it may actually happen.
The primary reason for renewed optimism in Damon is that the Vancouver company this week announced a strategic collaboration with a seasoned engineering firm out of Italy.
The new partnership between Damon, designer of the long-touted HyperSport electric motorcycle, and Engines Engineering, is aimed at accelerating product-to-market.
Originally announced in 2019, the HyperSport promises a range of up to 200 miles and a top speed of 200 miles per hour, as well as a novel production design and special safety technologies such as an AI-enhanced 360º collision warning system.
The collaboration comes at a critical time for Damon, who has delayed its flagship product so much that journalists in the field shifted the question of launch from “when” to “if.” The firm has stated that it is “positioned to capture a significant share of the $40B global electric two-wheeler market by 2030″—currently, though, Damon has none of that share.
Moving forward Engines Engineering, which boasts decades of racing expertise, will provide Damon with a capital-efficient approach to product development as well as rapid technology validation, according to a statement from the firms.
“The HyperSport Race program provides an optimal platform for rapid validation of our HyperSport technology stack,” believes Dom Kwong, who is functioning as interim chief executive officer of Damon following the abrupt departure of former CEO Jay Giraud.
“This focused approach allows us to test our proprietary HyperSport electric powertrain architecture, advanced battery management technology, and AI-enabled safety systems under extreme conditions, generating crucial data to advance our technology development,” he said.
Damon expects to validate its proprietary powertrain technology and AI systems “in a high-performance track application on an accelerated timeline.” That accelerated timeline ends in a year, when the HyperSport is now purported to launch.
“Engines Engineering is proud to collaborate with Damon in accelerating the validation of their advanced HyperSport electric mobility technology,” stated Manfredi Fenici, CEO of Engines Engineering.
“Our racing expertise combined with Damon’s innovative technology creates an efficient platform for pushing electric powertrain performance boundaries,” he said.
Late last year, Damon went public on the Nasdaq with hopes to access additional capital to fund production.
However, the plan backfired: Shares tanked 70% in the following months.
But investors appear inspired by this latest announcement, with shares in DMN spiking nearly 20% on the news.
Engines Engineering was founded in 1979 in Italy’s Motor Valley and today delivers full-cycle two-wheel automotive development for major brands.