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Zero Motorcycles holds off on scouting new lenders

Zero Motorcycles is focused on cultivating its relationships with Synchrony Financial and FreedomRoad Financial before seeking new lending partners, CEO Sam Paschel told Powersports Finance 

If consumer needs “outstrip” the capabilities of its retail finance partnersZero will do “what’s in the best needs of consumers,” Paschel said. But for now, Zero has “a phenomenal set of partners that help us lower those barriers and bring in consumers,” he added. 

Last month, the electric motorcycle OEM added Synchrony as its second lending partner. “Even if there were [something planned] on the heels of just announcing [our partnership with Synchrony], we took a long time to pick the right partner, and we believe in what we’re trying to build together with those guys,” Paschel explained.  

For More Read: Zero Motorcycles ‘selectively’ expands dealer network, CEO says

The OEM is focusing on ramping supply to meet demand — particularly for the SR/F, which started shipping in May. “[It] sounds like a great problem, but it’s still a problem,” Paschel said, adding that demand has been growing at a rate between 50% and 60% compounded annually 

The company is facing the largest backlog in its history on the model, which has been in production since January, Paschel said. The OEM has considered expediting parts and increasing manufacturing shifts, among other efforts to meet demand, according to Paschel.  

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