MINNEAPOLIS - Polaris (NYSE:PII) Commercial, a division of Polaris Inc. (NYSE:PII), announced the launch of its all-new Pro XD Kinetic, a full-size electric utility vehicle (UTV) designed for heavy-duty applications and jobsites. The company, known for its power sports and off-road innovation, is expanding its commercial UTV lineup with a focus on sustainability and operational efficiency.
The Pro XD Kinetic is engineered to handle tough duty cycles and enable all-day operation without exhaust emissions. It features an all-electric powertrain developed through a partnership with Zero Motorcycles®, offering comparable cargo and towing capacities to its gas and diesel counterparts. With a 1,250 lbs cargo and 2,500 lbs towing capacity, the vehicle provides instantaneous torque and precise handling while requiring less maintenance, contributing to increased vehicle uptime.
Polaris emphasizes that the electric UTV's maintenance costs are about 60 percent less than those of similar gas-powered vehicles over a five-year period. The Pro XD Kinetic's Lithium-Ion battery is designed to last the vehicle's lifetime and comes with a five-year warranty from Polaris Commercial.
Safety remains a priority for the Pro XD line, with the new electric model featuring standard safety elements like orange seatbelts, vehicle decals, and optional lighting accessories to improve visibility. The vehicle's top speed can be calibrated between 5-40 mph to comply with jobsite regulations, with many customers opting for a 25 mph limit.
Built to endure, the Pro XD Kinetic includes heavy-duty components and a rust-resistant poly bed. The electric motor and 14.9 kWh Lithium-Ion battery deliver robust performance, with up to 45 miles of range on a single charge and an estimated five-year fuel savings of $2,800 compared to the gas-powered Pro XD.
Charging the Pro XD Kinetic doesn't require specialized infrastructure, as it can be charged via a standard wall outlet or a generator.
This news is based on a press release statement from Polaris Inc.
InvestingPro Insights
As Polaris Inc. (NYSE:PII) rolls out its Pro XD Kinetic electric utility vehicle, the company's financial health remains a key consideration for investors. With a market capitalization of $5.08 billion, Polaris stands as a significant player in the commercial vehicle market. The company's commitment to innovation and sustainability is reflected in its recent product launch, which aligns with consumer and regulatory trends favoring eco-friendly solutions.
InvestingPro data indicates that Polaris is currently trading at an attractive price-to-earnings (P/E) ratio of 10.6, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 9.95. This valuation suggests that the stock could be undervalued relative to its near-term earnings growth, as evidenced by a PEG ratio of 0.62 for the same period. This financial metric is particularly relevant for investors seeking growth at a reasonable price.
Moreover, the company has demonstrated financial stability with a consistent dividend payout, increasing its dividend for 27 consecutive years. This track record of dividend growth, combined with a current dividend yield of 2.83%, positions Polaris as a potentially attractive option for income-focused investors.
InvestingPro Tips for Polaris highlight the company's stock price volatility, which could present opportunities for investors with a higher risk tolerance. Additionally, analysts predict that Polaris will be profitable this year, backed by profitability over the last twelve months.
Investors interested in a deeper dive into Polaris Inc.'s financials and future prospects can find additional insights on InvestingPro, with 6 more tips available to guide investment decisions. For those considering a subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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