Harley Davidson introduced its first electric motorcycle at the CES technology fair. The LiveWire model goes from 0 to 60 mph (96.5 km/h) in 3.5 seconds and costs just under $30,000 (26,000 euros).
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Harley-Davidson Inc on Tuesday spun off its electric motorcycle division, LiveWire, in a SPAC deal creating the first publicly traded electric motorcycle company in the United States.
New shares of LiveWire Group Inc, the former electric motorcycle subsidiary of Harley-Davidson, jumped 1.5% in its U.S. market debut on Tuesday following the unit’s $1.77 billion merger USD with a blank check company.
Last year, the EV unit agreed to merge with the special purpose acquisition company AEA-Bridges Impact Corp.
AEA-Bridges shareholders approved the merger last week, even as investors grow more cautious about short-testing firms with a record number of SPACs liquidated in 2022 amid a backdrop high interest rates and market volatility. The acquisition was initially expected to close in the first half of this year.
Harley released its first electric motorcycle, the LiveWire, in 2019 before deciding to relaunch the bike as its own sub-brand. Hoping to regain lost market share as the company’s core baby boomer customer base ages and the hobby of motorcycling as a leisure activity fades, the Milwaukee-based company is seek to be more competitive with other electric motorcycle manufacturers.
LiveWire has an EV bike model that starts at $16,999 and another at $22,799. Harley-Davidson will hold the majority ownership of LiveWire with a 74% stake.