The report, published by Asphalt & Rubber, claims company staff have already been sent home and all production stopped as the company looks for future funding.
The news follows Harley-Davidson’s announcement that it plans to establish its own R&D Facility in San Francisco to develop EV technology to power an all-new range of Harley-Davidson motorcycles.
Harley-Davidson and Alta Motors announced a joint-venture in March of this year that would see the two American manufacturers develop and build motorcycles together. Now, however, it seems that arrangement has fallen through with Harley-Davidson going about developing electric technology on its own.
Alta Motors isn’t done for good, however. By ceasing production operations Alta Motors slows the burn-rate of capital giving the company time to search for new investment opportunities. We’re hoping with the stellar year Alta was having, showing 50% growth quarter-to-quarter, they are able to secure new funding soon and get back to work!
Alta Motors has not made an official statement regarding its current status, so stay tuned for more.
