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 stock rose 0.3% on its debut on the New York Stock Exchange, following the company’s $1.77 billion merger with a “SPAC,” an abbreviation for firms created to serve as an investment vehicle and facilitate the opening of 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 with a starting price of US$17,000 and another that costs R$22,800. Harley-Davidson will own a majority stake in LiveWire with a 74% stake.
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