Harley-Davidson Gets Into Electric Bicycle Business with Creation of Serial 1 Cycle Company

Urian B., Tech Times 28 October 2020, 04:10 am

Harley-Davidson has recently spun out a brand new business that dedicates itself to the production of electric bicycles. Davidson is planning to bring out its very first line of products to be sold to the public in the spring of 2021.

Harley-Davidson joins the electric bicycle industry

Harley-Davidson's new business is called the Serial 1 Cycle Company and it has first started out as a simple project within the known motorcycle manufacturers' own product development center. The name actually comes from the "Serial Number One," which was the original nickname for the oldest known Harley-Davidson motorcycle.

According to an article by TechCrunch, the pedal assist of the eBicycle company is going to be launched amid the aggressively booming electric bike industry some time in the future that is fueled by the whole COVID-19 pandemic.

The potential of the electric bicycle industry

The known global eBicycle market was previously estimated to be just above $15 billion back in 2019 and has now grown to an annual rate of over 6% from 2020 all the way to 2025, according to the motorcycle manufacturer Harley-Davidson itself.

This brand new Harley-Davidson brand Series 1 has not yet provided any performance detail or thorough specs of its new line of upcoming electric bike products. The company, however, still released a selection of photos showing its very first model.

The upcoming business launch will also come at a very critical time for the Milwaukee-based motorcycle manufacturer, which has been seeing its sales drop as its original core customer base slowly ages out of its known motorcycles.

New company could help Harley Davidson after suffering losses

Back in July, Harley-Davidson had to cut out 700 jobs from its complete global operations as a part of the known internally branded restructuring plan which was called "The Rewire". This plan, which the known Harley-Davidson chairman, president as well as CEO Jochen Zeits first stated about the company's problematic first-quarter earnings back in April. The statement was then followed up with the launch of Harley Davidson's upcoming product line of electric motorcycles known as the Livewire.

According to Aaron Frank, the company's very own brand director's statement, the recent formation of the Serial 1 will allow Harley-Davidson to be able to play a key role when it comes to mobility revolution while also allowing the Serial 1 to keenly keep focus on exclusively on the known eBicycle customer and be able to deliver an unparalleled riding experience that is still rooted in both freedom and adventure.

Harley-Davidson appointed Jason Huntsman as the president of the said Serial 1 Cycle. The rest of the company's executive team will include Ben Lund, the acting vice president of product development as well as Hannah Altenbug who is the lead brand marketing specialist.