LiveWire to be first publicly traded EV motorcycle company in US

A merger will see Harley-Davidson’s electric motorcycle division LiveWire as part of a new publicly traded company to be listed on the New York Stock Exchange under “LVW”.

The merger involves Harley-Davidson, special purpose acquisition company AEA-Bridges Impact Corp, and Taiwan-headquartered global powersports and electric scooter company KYMCO.

“The announcement is a historic milestone with LiveWire set to become the first publicly traded EV motorcycle company in the US,” says Harley-Davidson president, chairman and chief executive Jochen Zeitz, who will be chairman and acting chief executive of LiveWire for up to two years after the transaction.

“By building on Harley-Davidson’s 118-year lineage, LiveWire’s mission is to be the most desirable electric motorcycle brand in the world, leading the electrification of the sport,” he says.

“This transaction will give LiveWire the freedom to fund new product development and accelerate its go-to-market model. LiveWire will be able to operate as an agile and innovative public company while benefitting from the at-scale manufacturing and distribution capabilities of its strategic partners, Harley-Davidson and KYMCO.”

AEA-Bridges Impact Corp (ABIC) chairman and co-chief executive John Garcia says LiveWire is well-positioned to become the premier sustainable electric motorcycle brand and redefine the industry.

Ryan Morrissey will serve as LiveWire president.

LiveWire was established as a separate division in 2019 and has brand presence in North America and Europe, with planned expansion into additional markets including Asia.

It will include STACYC, the all-electric balance bikes for kids.

The transaction will be financed by ABIC’s US$400 million cash held in trust, a US$100 million investment from Harley-Davidson, and a US$100 million investment from KYMCO, through a private investment in public equity.

The combined company is expected to have an enterprise value of about US$1.77 billion and post-money equity value of some US$2.31b at closing.