Hog goes electrical: Harley-Davidson spins off EV division LiveWire

Quickly, hogs will not make a lot noise.

Driving the information: Harley-Davidson on Tuesday spun off its electrical motorbike division as a separate, publicly traded firm.

  • LiveWire made its public debut in a SPAC take care of AEA-Bridges Impression Corp, often called ABIC, in a $1.8 billion merger geared toward funding its growth of EV bikes.
  • The shares had been buying and selling down 2.8% to $8.75 shortly after 3pm.

The large image: Harley, whose bikes are affectionately referred to by its followers as hogs, has been straining to reinvent itself for years, having struggled to promote conventional bikes to youthful generations.

  • The corporate is hoping to reap the benefits of buyers’ enthusiasm for EVs because it retains a 74% stake in LiveWire.

What’s subsequent: Harley-Davidson CEO Jochen Zeitz, who will function CEO of LiveWire for as much as two years, advised Axios on Tuesday that LiveWire will give attention to “city journey” bikes.

  • LiveWire will “give attention to these new segments that we predict we are able to develop,” he stated — specifically shorter-range rides just like the 110-mile S2 Del Mar, which will probably be launched within the spring.
  • Down the street, Harley will develop its personal longer-range electrical bikes with better capability to tour the nation, Zeitz stated.

The impression: Harley’s aim is to be “carbon impartial” by 2050, although Zeitz acknowledged that the expertise to rework Harley’s “core” merchandise into pure EVs will take longer.

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