New Electric Motorcycle From Harley-Davidson Unit Could Be Unveiled Next Week

Zinger Key Points
  • An electric motorcycle from LiveWire, a unit of Harley-Davidson, is set to be unveiled on May 10, according to a new teaser video.
  • LiveWire was spun out from Harley-Davidson and is in the process of going public as a stand-alone company under a SPAC merger with AEA-Bridges Impact Corp.

Motorcycle fans looking for an electric vehicle option could be in luck soon with leader Harley-Davidson Inc HOG set to unveil a new electric motorcycle next week.

What Happened: An electric motorcycle from LiveWire, a unit of Harley-Davidson, is set to be unveiled on May 10, according to a new teaser video and an Electrek report

The new model is called the Del Mar and will be in the middleweight motorcycle sector.

The existing LiveWire One has a top speed of 110 miles per hour and hits 100 horsepower. The new LiveWire model is expected to be a toned-down version that will make it cheaper and more attractive to more motorcycle riders. The LiveWire One has a price tag of $21,999.

LiveWire was spun out from Harley-Davidson and is in the process of going public as a stand-alone company under a SPAC merger with AEA-Bridges Impact Corp IMPX. Harley-Davison will maintain majority ownership of the company after the SPAC merger with an expected 74% ownership.

Related Link: Harley-Davidson Spinning Off EV Unit LiveWire Via SPAC Deal: What Investors Should Know 

Why It’s Important: Having a new electric motorcycle model with a cheaper price point could help LiveWire attract existing motorcycle drivers to make the switch.

The Harley-Davidson unit has a goal of hitting 100,000 electric motorcycle units sold by 2026. LiveWire intends to be an industry-leading electric motorcycle company.

“By building on Harley-Davidson’s 118-year lineage, LiveWire’s mission is to be the most desirable electric motorcycle brand in the world, leading the electrification of the sport,” said Harley-Davidson CEO Jochen Zeitz.

LiveWire has a brand presence in North America and Europe and plans on expanding into additional markets, including Asia.

LiveWire sees an addressable market size of $20.4 billion by 2030 versus a market size of $2.5 billion in 2021.

The electric motorcycle company plans on utilizing several methods to sell the motorcycles including stores-in-stores, gallery stores and pop-up retail stores. Harley-Davidson has more than 1,400 global locations, which could serve as a launching point for LiveWire.

The SPAC merger is expected to close in mid-2022.

The new LiveWire motorcycle unveiling next week could help boost the interest in electric motorcycles and also bring attention to both Harley Davidson and the AEA-Bridges SPAC.

Price Action: Harley-Davidson shares trade at $38.49 versus a 52-week range of $32.13 to $52.06.

AEA-Bridges Impact trades at $9.95 versus a 52-week range of $9.69 to $10.32.

Photo: LiveWire motorcycle (not Del Mar) courtesy Harley-Davidson

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsSmall CapTrading Ideaselectric motorcycleselectric vehiclesJochen ZeitzLiveWiremotorcyclesSPACSPACs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!