Vancouver-based Damon, maker of the much-hyped HyperSport electric motorcycle, is facing mounting challenges as it seeks millions in new capital to stay afloat. Founded in 2017, Damon has yet to deliver its flagship product, first announced in 2019.
Production is now delayed until 2026, hindered by funding shortfalls, layoffs, and the departure of key personnel including CEO Jay Giraud and technical leader Derek Dorresteyn. A recent report from RideApart questions whether Damon can meet even its revised timeline. Shares of DMN have fallen 70% since the company’s Nasdaq debut in 2024.
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