Printed On Dec 27, 2021 11:51:00 AM
KMYCO to take a position $100 million in Harley-Davidson’s LiveWire model as a part of its upcoming public providing.
Earlier this yr, Harley-Davidson introduced that its LiveWire electrical bike can be spun off into its personal sub-brand known as LiveWire, and the bike itself is now known as the LiveWire ONE. Harley-Davidson has now introduced that LiveWire will go public, and companion with sustainability-focused particular objective acquisition firm AEA-Bridges Influence Company (ABIC).
There can even be a $100 million funding from Harley-Davidson itself, and one other $100 million funding from Taiwanese producer Kwang Yang Motor Co Ltd (KYMCO), which is able to give the latter a 4 % share within the enterprise. As soon as the deal is accomplished, LiveWire will develop into the primary publicly traded electrical bike firm within the USA, with an estimated post-money valuation of $2.three billion.
With a lot of merchandise in LiveWire’s pipeline, KYMCO’s entry ought to assist the model crack the Eurasian markets the place it has a powerful footing. The press launch mentions that LiveWire will profit from the engineering experience, manufacturing footprint, distribution, provide chain infrastructure and international logistics capabilities of each Harley-Davidson and KYMCO. Moreover, KYMCO is already manufacturing and promoting electrical scooters in Eurasian markets, and maybe, these may very well be tweaked, rebranded and offered underneath the LiveWire model.