KMYCO to invest $100 million in Harley-Davidson’s LiveWire brand as part of its upcoming public offering.
Earlier this year, Harley-Davidson announced that its LiveWire electric motorcycle would be spun off into its own sub-brand called LiveWire, and the bike itself is now called the LiveWire ONE. Harley-Davidson has now announced that LiveWire will go public, and partner with sustainability-focused special purpose acquisition company AEA-Bridges Impact Corporation (ABIC).
There will also be a $100 million investment from Harley-Davidson itself, and another $100 million investment from Taiwanese manufacturer Kwang Yang Motor Co Ltd (KYMCO), which will give the latter a four percent share in the venture. Once the deal is completed, LiveWire will become the first publicly traded electric motorcycle company in the USA, with an estimated post-money valuation of $2.3 billion.
With a number of products in LiveWire’s pipeline, KYMCO’s entry should help the brand crack the Eurasian markets where it has a strong footing. The press release mentions that LiveWire will benefit from the engineering expertise, manufacturing footprint, distribution, supply chain infrastructure and global logistics capabilities of both Harley-Davidson and KYMCO. Additionally, KYMCO is already manufacturing and selling electric scooters in Eurasian markets, and perhaps, these could be tweaked, rebranded and sold under the LiveWire brand.
