Harley-Davidson launched a new business dedicated to electric bikes and plans to launch the first series on the market in the spring of 2021.
The new business called Serial 1 Cycle Company started as a dev project. The name comes from "Serial Number One", the name of the oldest Harley-Davidson motorcycle.
The global market for e-bikes is estimated to have exceeded 15 billionmillions dollars in 2019 and is projected to grow at an annual rate of more than 6% from 2020 to 2025, according to Harley-Davidson.
The new Harley-Davidson Serial 1 brand does not provide details on the performance or other specifications of the new series of electric bikes, however, the company she shared many photos of her first model.
The new business model comes at a critical time for the Milwaukee company, which has recently seen its sales slow.
In July, Harley-Davidson cut 700 positions work from its global operations as part of an internal branded restructuring plan called “The Rewire”. The plan, which Harley-Davidson chairman and CEO Jochen Zeitz first talked about on the call in the first quarter of 2020, followed the launch of its first electric motorcycle, the Livewire.
See the new one bike:
