Harley-Davidson And KYMCO Partnered For Future Electric Vehicle
Harley-Davidson stated earlier this year that its LiveWire electric motorbike would be spun off into its own sub-brand, LiveWire and that the bike would be renamed the LiveWire ONE. Harley-Davidson has announced that LiveWire would go public and join with AEA-Bridges Impact Corporation, a sustainability-focused special purpose acquisition company (ABIC).
A $100 million investment from Harley-Davidson will be made, as well as a $100 million investment from Taiwanese manufacturer Kwang Yang Motor Co Ltd (KYMCO), which will give the latter a 4% stake in the business. LiveWire will become the first publicly traded electric motorcycle firm in the United States after the purchase is completed, with a post-money valuation of $2.3 billion.
With a variety of items in the works for LiveWire, KYMCO‘s addition should help the company break into the Eurasian market, where it already has a strong presence. According to the news statement, LiveWire will benefit from Harley-Davidson and KYMCO’s engineering knowledge, manufacturing footprint, distribution, supply chain infrastructure, and worldwide logistical capabilities. Furthermore, KYMCO already produces and sells electric scooters in Eurasian countries, which could be altered, rebranded, and marketed under the LiveWire brand.