ANN ARBOR -- Current Motor, a Michigan-based early stage company that has developed an electric motorcycle targeted at markets in the Americas, announced a strategic agreement with Dakkota Integrated Systems to assemble electric motorcycles in Michigan and directly ship them to Current Motor's customers in the Americas. Dakkota will also manage Current Motor's supply chain.
"We are serving a rapidly growing market for fun, practical and affordable electric vehicles," said Lauren Flanagan, executive chairman of Current Motor. "This strategic agreement with Dakkota empowers Current Motor to scale and allows us to focus our efforts on research, development, sales and marketing, while significantly progressing our plan for the most capital-efficient growth in our EV class."
"Dakkota brings to Current Motor traditional Tier 1 management and technical skills, a history of flawless launches and a positive, competitive, 'love to be a part of the solution' attitude," said Andra Rush, president of Dakkota Integrated Systems. "We like to say Dakkota has 'people and customer obsession,' and we are pleased to provide scalable services to help propel Current Motor's growth."
Ann Arbor-based Current Motor was founded by Erik Kauppi, president and chief engineer, and John Harding, chief product engineer. Lauren Flanagan was elected executive chairman earlier this year. Current Motor's lead investor is Belle Capital, LP, an early stage investment fund with a focus on investing in scalable companies owned by women or with a significant female leadership structure, located in Michigan and other underserved capital markets in the Midwest and South. Other key investors in Current Motor include the State of Michigan and former General Motors chairman Bob Lutz.
A limited partner in Belle Capital, Andra Rush will join the Current Motor board of directors. Rush, a Native American descendant of the Mohawk Tribe from the Six-Nation Reservation, is the founder, president and CEO of Rush Group, LLC. Rush Group is and one of the largest Native American-owned businesses in the United States, with corporate headquarters in Wayne, and additional operations in Lansing, Mich., Chicago, Louisville, Ky, Kansas City, Mo. and Ontario, Canada. Rush Trucking services many Fortune 100 companies throughout North America. In 2001, the Rush Group and Magna International formed a joint venture, Dakkota Integrated Systems, to provide interior systems and components, processes and services to automotive manufacturers including Ford Motor Co., General Motors and Chrysler.
"Leveraging our financial capital with top-tier human capital culled from our limited partners and our extended, 'new girl network' is what Belle Capital is all about," said Flanagan, who is also a co-managing partner at Belle Capital, LP. "We're thrilled to have Andra join the Current Motor board."
"I'm honored to join the Current Motor board and look forward to helping create success for all the company's stakeholders, while advancing Michigan's leadership in innovative transportation solutions," said Rush.
Current Motor develops and manufactures all-electric scooters, made in Michigan, that use no gas, produce no emissions and create no maintenance hassles. The scooters offer speeds up to 75 mph and a range of up to 70 miles. They charge from a standard 110-volt household outlet in five hours.
More at www.currentmotor.com.
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