Harley-Davidson Spins Off Electric Motorcycle Division – Investopedia
Harley-Davidson (HOG) spun off its electric motorcycle division, LiveWire, in an SPAC deal creating the first publicly-traded electric motorcycle company in the U.S.
New shares of LiveWire (LVWR) were up 1.5% in their U.S. market debut following the unit’s $1.77 billion merger with a blank check company, but are falling steeply today.
LiveWire has one EV bike model priced at just below $17,000, and another at $22,800. Harley released its first electric motorbike in 2019 before deciding to relaunch the bike as its own sub-brand. Harley was hoping to regain lost market share as the company’s core baby boomer customer base grows older and interest in motorcycles fades.
Last year, the EV unit agreed to merge with the SPAC AEA-Bridges Impact. Shareholders for AEA-Bridges approved the merger last week, even as investors are growing more cautious about blank check companies with a record number of SPACs liquidating this year, amid surging interest rates and market volatility. The deal was originally expected to close in the first half of the year.
Harley-Davidson will hold a majority ownership of LiveWire with a 74% stake. Harley-Davidson shares are down 1.6% so far this year.
News
Corporate Finance
Company News
Sustainable Investing
Company Profiles
Company Profiles
When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site.
