The Quebec BRP is preparing a strong comeback on the two-wheeled motorcycle market, with the launch of a whole new range of electric motorcycles, assembled in Mexico.
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This long-awaited news was confirmed by management on Friday during the unveiling of the company’s latest financial results. Results that exceeded analysts’ expectations.
In an interview, the president of BRP, José Boisjoli, said he believed that the electrification of the motorcycle will allow the Valcourt company to carve out a place for itself in this market already occupied by several major players.
“As we saw the motorcycle industry go electric, we saw an opportunity to reclaim our heritage and re-enter the motorcycle market,” he said.
The first Can-Am motorcycle, of the motocross type, was launched in 1973. Its production ceased in 1987. For reasons of competition, the management was stingy with details on its new motorcycles, limiting itself to saying that it would produce two main lines, on-road and off-road, and that both would carry the Can-Am brand.
Although they were designed in Quebec, these motorcycles will be manufactured at its Querétaro industrial complex in Mexico, where its Sea Doo watercraft are already assembled. The start of production should not be long, since the first models will be sold from spring 2024.
Why Mexico? “Our Valcourt plant is already operating at maximum capacity with 1,200 workers. We are already looking for 400 more employees for the production of our snowmobiles at the beginning of the summer. Finding the workforce is currently a challenge, both here and in the United States. In Mexico, it’s easier to hire,” summarized Mr. Boisjoli.
The company now has 20,000 employees worldwide. In addition to Canada, the United States and Mexico, BRP has factories in Finland, Austria and Australia.
Markets seemed to react well to the company’s latest results. On the Toronto Stock Exchange on Friday, its stock price rose 9.34% to close at $96.84 a share. Since the start of 2022, BRP’s stock has fallen 11.36%.
