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PHOTO CAPTION: Mission Motors electric motorcycle at Bonneville Salt Flats.

Mission Motors Raises $3.35M

Electric motorcycle maker plans limited 50-bike run for delivery in Q2 2011.

Published: 11-Jun-2010

Mission Motors, a San Francisco-based startup working on electric motorcycles and powertrain technology, has raised more than $3.35 million of a planned $4.68 million equity financing round, according to a filing with financial regulators on Thursday.

Mission Motors’ interim CEO Jit Bhattacharya told us in an interview last month that the startup was looking to raise funds to help set up an assembly facility in California. He said the goal was to have the facility up and running for final assembly of a second-gen electric motorcycle model in 2011 (using components sourced from a variety of global suppliers).

In the meantime, Mission is working to get a limited 50-bike run of its high-end Mission One model into customer hands, with deliveries beginning in the second quarter of next year. The company has also begun talks with China-based motorcycle maker Zongshen Power Machinery to collaborate on development of electrical engine systems, and possibly secure investment for the startup.

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Mission One electric motorcycle prototype

The Mission One is one of the fastest electric bike ever clocked at Utah's Bonneville Salt Flats

Mission One electric motorcycle prototype

The Mission One is one of the fastest electric bike ever clocked at Utah's Bonneville Salt Flats

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