Is Damon Motorcycles “Kaput?” – Adventure Rider

Remember Damon Motorcycles? The company that says it will build its HyperSport and Hyperfighter electric motorcycles in Canada? Well, it seems there are now some questions about the company’s viability.

Their “groundbreaking” machines were announced with a great deal of hype. Each was to be equipped with high-end safety systems that used cameras and radar to increase road safety significantly. In addition, Damon claimed that with the push of a button, the bikes would be able to adjust the handlebar and footpeg position to make riding more comfortable or sporting. Finally, the bikes were to provide around 200 horsepower and 200 miles of range. It sounded like it was too good to be true.  And perhaps that’s now the case with Damon Motorcycles.

The Details

According to RideApart’s Jonathon Klein, Damon Motorcycles’ outlook is dire. According to his reporting, over the last couple of years, the company has attained various milestones, some good and most not-so-good. On the upside, the company was able to complete an initial public offering on the NASDAQ stock exchange. Its stock saw a 52-week high of $4.95 a share and, unfortunately, now resides in the $0.50 per share territory. That should tell you a lot, and it seems that is about the sum of the good news if you can call it that.

On the downside, Damon has seen a host of negative milestones. One of its co-founders exited the company only to return about a year later and take the role of interim CEO. Recently, the company’s Chief Technical Officer resigned, leaving the engineering-intensive role currently unfilled. Damon’s motorcycles were to have been built in Canada, with construction of its factory reported to be in progress. However, it has come to light that Damon no longer intends to build motorcycles in Canada but will look to California for its production facility.

Not Dead Yet?

Damon’s website is still up, and you can still put money down to pre-order all of its claimed motorcycle models. In addition, the website shows an investor presentation dated January 2025 that paints a pretty rosy picture (other than a share price of $0.85. Finally, it hasn’t issued any new statements to its shareholders indicating any dire issues. So what’s the real story?

Pre-Order Deposits

At the moment, those who purchased Damon’s stock have taken a huge loss, although it still has a tiny bit of value. But what about the people who gave Damon money as pre-order deposits? Well, if Damon does go through bankruptcy, those people may never see a motorcycle or any of their money. It’s a shame.