Given that we’re in early April, you might be forgiven for thinking this is a joke, but it isn’t. After a long run of bad news for BC-based Damon Motorcycles, we now see a potential ray of light at the end of the tunnel. According to a press release, Damon has signed a deal with Milan-based Engines Engineering.
This might not seem like much to fuss about. However, Engines Engineering might be the unsung hero of the motorcycle world, developing whole motorcycles that other companies then produce under their own name. Remember the XR338 concept bike we showed you back in 2020? That was just one example of the sort of thing they do. That machine didn’t go into production, but many others have.
So, while Damon’s leadership has changed significantly over the past few months and their stock price has tanked, better times may be ahead if they are able to learn lessons from Engines Engineering. Especially if those lessons are along the lines of “How to be profitable.”
Despite taking in a truckload of money from investors before its IPO, Damon still hasn’t released a streetbike to its customers, despite a half-decade of hype. But the PR about the deal with Engines Engineering suggests that part of the deal is shoring up the financial situation. As per the release (emphasis ours): The collaboration with Engines Engineering, which has extensive MotoGP racing expertise, provides Damon with a capital-efficient approach to product development and rapid technology validation.
So, we’ll see. The PR below suggests we’ll see a street bike within a year. We’ve heard that before, but at least we have a company with a proven track record involved now.
Press release
Damon Accelerates Development of HyperSport Race Electric Motorcycle with Renowned Italian Engineering Firm – Engines Engineering
Strategic Collaboration with Engines Engineering Enables Capital-Efficient Product Development and Rapid Technology Validation
VANCOUVER, BC, April 3, 2025 /CNW/ – Damon Inc. (NASDAQ: DMN) (“Damon” or the “Company”), a designer and developer of electric motorcycles and other personal mobility products that seek to empower the personal mobility sector through innovation, data intelligence and strategic collaborations, today announced a strategic collaboration with renowned Italian engineering firm Engines Engineering, enabling the acceleration to market of the Damon HyperSport Race electric motorcycle. The collaboration with Engines Engineering, which has extensive MotoGP racing expertise, provides Damon with a capital-efficient approach to product development and rapid technology validation. Through this collaboration, Damon expects to validate its proprietary electric powertrain technology and AI-enabled systems in a high-performance track application on an accelerated timeline. The HyperSport Race program will serve as a technology demonstrator for Damon.
By leveraging its modular technology platform, Damon has streamlined its expected development costs to under $10 million – significantly below the $25-70 million typically required for road-going versions. This capital efficient strategy fast-tracks the validation of Damon’s advanced HyperSport systems, with initial product expected within 12 months.
“The HyperSport Race program provides an optimal platform for rapid validation of our HyperSport technology stack,” said Mr. Dom Kwong, Interim CEO of Damon. “This focused approach allows us to test our proprietary HyperSport electric powertrain architecture, advanced battery management technology and AI-enabled safety systems under extreme conditions, generating crucial data to advance our technology development,” stated Mr. Kwong.
“Engines Engineering is proud to collaborate with Damon in accelerating the validation of their advanced HyperSport electric mobility technology,” said Mr. Manfredi Fenici, CEO and Vice-President of Engines Engineering. “Our racing expertise combined with Damon’s innovative technology creates an efficient platform for pushing electric powertrain performance boundaries.”
The HyperSport Race program and strategic collaboration with Engines Engineering is the first step of Damon executing its updated strategic business plan, Damon 2.0, which has established four distinct potential revenue verticals – Data Intelligence, Personal Mobility, Licensing and Engineering Services, and Special Projects – creating multiple pathways for growth. The Company’s proprietary safety systems and electrification technology continue to be core differentiators in the market, supported by capital efficiency and economics. This approach optimizes the operational efficiency while advancing the Company’s mission in mobility innovation and data intelligence. Damon’s strategic focus in sustainable transportation solutions, combined with its diversified potential revenue streams, strongly positions Damon for long-term value creation.
