Indian Motorcycle is currently owned chiefly by Carolwood LP, a Los Angeles- based private equity firm, which purchased a majority stake from Polaris Inc. in a deal announced in October 2025. Polaris retains a small minority equity position. Indian Motorcycle will become a standalone company with this ownership change expected to finalize in early 2026. Previously, Polaris had owned and produced Indian Motorcycles since 2011, during which time it revived the brand and operated it as part of Polaris's portfolio. The new independent Indian Motorcycle company will continue operations with existing facilities and employees, while Polaris focuses more on its core business areas.