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Thursday, February 2, 2023

Harley-Davidson Join Hands with KYMCO for Forthcoming EVs

Earlier this year, Harley-Davidson announced that its LiveWire electric motorcycle would become its own sub-brand, LiveWire, while the motorcycle itself is now called the LiveWire ONE. Harley-Davidson has now announced that LiveWire will go public and partner with sustainability-focused special purpose acquisition company AEA-Bridges Impact Corporation (ABIC).

There will also be a $100 million investment from Harley-Davidson itself, and another $100 million investment from Taiwanese manufacturer Kwang Yang Motor Co Ltd (KYMCO), which will give the latter a four percent stake. After the deal closes, LiveWire will become the first publicly traded electric motorcycle company in the United States, valued at an estimated $2.3 billion post-money.

KYMCO’s entry should help LiveWire crack the Eurasian market, where it has a strong foothold. According to the press release, LiveWire will benefit from Harley-Davidson and KYMCO’s engineering expertise, manufacturing footprint, distribution infrastructure, supply chain infrastructure, and global logistics capabilities. Additionally, KYMCO is already manufacturing and selling electric scooters in Eurasian markets, and these could be tweaked, rebranded, and sold under the LiveWire brand.

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