Harley-Davidson on Tuesday spun off its electric motorcycle division, LiveWire, merging the unit with a blank check company, creating the first publicly traded electric motorcycle maker in the United States.
LiveWire’s share rose 0.3% on its debut on the New York Stock Exchange, after the company’s 1.77 billion merger with a “SPAC”, an abbreviation in English that designates firms created to serve as an investment vehicle and facilitate the opening capital of groups acquired by them.
In 2021, LiveWire agreed to merge with special purpose acquisition company AEA-Bridges.
Harley launched its first electric motorcycle in 2019, before deciding to relaunch the bike as its own sub-brand.
Hoping to regain lost market share as the company’s customer base matures and interest in motorcycling as a recreational activity wanes, the company seeks to become more competitive with other electric motorcycle manufacturers.
LiveWire has a model that starts at $16,999 and another that starts at $22,799. Harley-Davidson will own a majority stake in LiveWire with a 74% stake.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
