Harley-Davidson has spun out a new business dedicated to electric bicycles and plans to bring its first line of products to market in spring 2021.
The new business called Serial 1 Cycle Company started as a project within the motorcycle manufacturer’s product development center. The name comes from “Serial Number One,” the nickname for Harley-Davidson’s oldest known motorcycle.
The pedal assist electric bicycle company is being launched amid a booming ebike industry fueled by growing demand in the wake of the COVID-19 pandemic. The global eBicycle market was estimated to be over $15 billion in 2019 and projected to grow at an annual rate of more than 6% from 2020 to 2025, according to Harley-Davidson.
The new Harley-Davidson brand Serial 1 didn’t provide performance details or other specs of its new line of electric bike products. However, the company did release several photos of its first model.
Image Credits: Harley-Davidson
The new business launch also comes at a critical time for the Milwaukee-based motorcycle manufacturer, which has seen its sales slow as its core customer base ages out of its motorcycles.
In July, Harley-Davidson cut 700 jobs from its global operations as part of an internally branded restructuring plan called “The Rewire.” The plan, which Harley-Davidson …read more
Source: Tech Crunch