 Anaheim-based utility vehicle maker GEM and Taylor-Dunn have been purchased from Polaris Inc (NYSE:PII) by Waev Inc. in a management buyout. Financial terms of the deal were not disclosed.
“Leadership is committed to keeping California as the company’s headquarters maintaining its electric vehicle manufacturing center of excellence in Anaheim,” Waev said in a news release today.
Founded by five former Polaris leaders, Waev will strategically place the GEM and Taylor-Dunn brands at the forefront of the business.
“When GEM production moved to Anaheim in 2017, it joined Taylor-Dunn manufacturing and established the Southern California-based electric vehicle center of excellence. This facility will also serve as the headquarters for Waev,” according to the statement.
