Motorcycle manufacturer Harley-Davidson is venturing into the business of manufacturing electric bicycles. It plans on bringing out its first set of these bicycles sometime around spring 2021.
The new business has been named “Serial 1 Cycle Company”. Initially, the electric bicycle project began within Harley-Davidson’s product development center. The business gets its name from “Serial Number One,” the name used to refer to the classic motorcycle developed by Harley-Davidson.
The motorcycle firm has decided to establish the electric bicycle company when the demand for bicycles has increased in the wake of the pandemic. In 2019, the eBicycle market was worth a little above $15 billion across the world, according to certain estimations. This market value is expected to progress rapidly at 6% every year between 2020 to 2025, says the motorcycle maker.
So far, no updates regarding the bicycle specifications or its overall performance aspects would come forth from Serial 1. The firm, however, has provided many images of its first bicycle model.
Based in Milwaukee, the company has not been doing very great on the motorcycle business front. Over the past few years, it has witnessed a dip in its sales as most of its customers have opted out from going for its motorcycles since they seem worn out now. There could not be a better time than this for the firm to step into the electric bicycle business.
In July this year, Harley-Davidson slashed about 700 jobs within its global performance functions. It was carried out due to a plan named “The Rewire,” which focused on its internal restructuring process. The chairman, a president, revealed the plan, and CEO of Jochen Zeitz sometime in April during the first-quarter earnings discussion meet. “The Rewire” plan was carried out after Harley Davidson released its first electric motorcycle called the Livewire.
Aaron Frank, the present brand director of the organization, gave a statement saying, “The formation of Serial 1 allows Harley-Davidson to play a key role in this mobility revolution while allowing Serial 1 to focus exclusively on the eBicycle customer and deliver an unmatched riding experience rooted in freedom and adventure.”
Harley Davidson has revealed Jason Huntsman to be the president of the “Serial 1 Cycle.” The other board members include Ben Lund, who would be joining as the product development section’s vice president. And finally, there is Hannah Altenburg, who would be playing the role of a lead brand marketing specialist.
Harley-Davidson to reach the Indian market
Harley-Davidson has established a partnership with Hero MotoCorp to produce, sell, and servicing bikes in India. This development has come up after both companies reached a consensus via a mutual distribution and licensing agreement. Ironically, Harley-Davidson had discontinued its services within the country after it could not find much success in what is known as the “world’s biggest motorcycle market.”
A joint statement was released on behalf of both organizations, which read as follows: “As part of a licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name.”
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