American motorcycle company Harley Davidson will spin off its electric vehicle division, and form a new company with two partners, including Taiwanese motorcycle manufacturer KYMCO, the company announced today, December 13.
LiveWire will be the first publicly traded electric motorcycle company in the USA, said Harley Davidson CEO Jochen Zeitz. The new brand will build on Harley Davidson’s 118 year lineage with a mission to be the most desirable electric motorcycle brand in the world.
LiveWire will also benefit from KYMCO’s engineering expertise, manufacturing footprint; and distribution, supply, and global logistics capabilities.
KYMCO is headquartered in Kaohsiung City, Taiwan, and also has manufacturing facilities in Malaysia, Indonesia, and three locations in China.
The third partner in the merger is special-purpose acquisition company AEA-Bridges Impact Corp. AEA-Bridges will provide US$400 million, while Harley Davidson and KYMCO will add US$100 million each to fund the new enterprise. LiveWire is expected to be listed on the New York Stock Exchange under the symbol “LVW.”
“We are at the confluence of two seminal shifts impacting the industry – vehicle electrification and sustainability. LiveWire is well-positioned to become the premier sustainable electric motorcycle brand and redefine the industry by leveraging the manufacturing and distribution expertise of Harley-Davidson and KYMCO,” said John Garcia, co-CEO of AEA-Bridges Impact Corp.
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