The Legacy of Indian Motorcycles

It was announced in late October that Polaris Inc. would separate Indian Motorcycle from its portfolio, spinning the brand off in order to sell a majority stake in the marque to Carolwood – a Californian-based private equity firm.

This hugely eventful if still uncertain turn of events is just the latest chapter in the storied history of America’s first motorcycle company – a history that dates back to the late 1800s.

America’s First Motorcycle Company

Bicycle racers George M Hendee and Oscar Hedstrom founded Hendee Manufacturing Company in 1897 with the intent of designing and manufacturing bicycles. 

Marketed under the name Indian in 1898, the company’s future was irrevocably altered with the production of a prototype diamond-framed, single-cylinder motorcycle in 1901. 

The newly rebranded Indian Motorcycle Co., revolutionized the game in short order from there, selling its first motorcycle to the public in 1902, setting the motorcycle world speed record of 56 miles per hour in 1903, unveiling its trademark deep maroon livery in 1904, and introducing a v-twin racebike in 1905.

Less than a decade later, Indian was selling tens of thousands of motorcycles annually. Over the next half century, Indian would reign as one of the leading motorcycle manufacturers in the world, boasting, among other models, a pair of fabled v-twins in the lightweight, agile Scout and the stately big-bore Chief.

However, it struggled to maintain its footing in the wake of World War II, and the original incarnation of Indian ceased production in 1953.

Revival

In the decades following Indian’s closure, there were multiple attempts to revive the marque in hopes of leveraging the iconic brand’s name and history to help launch a new version of the one-time two-wheeled giant.

Most were largely unsuccessful and some outright embarrassing considering its historic place – including slapping the Indian Chief moniker on rebadged, Taiwanese-produced mopeds. 

The London-based private equity firm Stellican Limited made a more serious go of it in 2006, before selling the brand to Polaris in 2011.

Polaris had already attempted to go toe-to-toe with Harley-Davidson with the establishment of Victory Motorcycles in 1997. While it built several highly touted bikes in that effort, it suffered in terms of image. Polaris acquired the Indian Motorcycle brand with the intent of fighting fire with fire, bringing Harley’s original nemesis back into the fold.

Victory was shut down in 2018 with all focus pushed toward Indian moving forward.

Racing Success

Much of Indian’s initial rise was tied to its racing exploits and the back-and-forth battles it  engaged in with H-D during the first half of the 20th century.

Polaris tapped back into that history with the Indian Scout FTR750 flat track racebike, a bike aimed directly at Harley-Davidson’s long conquered battleground – the Progressive American Flat Track series.

Briefly introduced at the end of the ‘16 season, the FTR750 would dominate the championship from 2017-2024, winning eight titles in eight attempts.

Considered by many to be the greatest flat track racebike ever devised, the FTR750 was retired with the series’ shift to all-production-based racing in 2025, a move driven in part by the Indian’s overwhelming success.

The Future 

According to Polaris and Carolwood, Indian and its 900 employees will continue forward unabated. At least for now, that includes its manufacturing facilities in Spirit Lake, Iowa, and Monticello, Minnesota, and its design and technology center in Burgdorf, Switzerland.

Those skeptical regarding its mid-to-long term future have history on their side, as private equity firms have a well-earned reputation for debt-loading and dismantling once proud and beloved institutions. 

While a scary proposition for Indian fans and the motorcycle world as a whole, there are some positive signs that Indian may yet be given a chance to stand tall again. 

Carolwood is positioning Indian Motorcycle as its “flagship” company and supporting those claims with the announcement that Mike Kennedy – an executive with three decades of experience in the motorcycle industry including high-profile stints at Harley-Davidson and Vance & Hines – would be tapped to oversee the operation.

While the future is uncertain, that, at least, is business as usual in the brand’s long history.