Harley-Davidson Launches Serial 1 Electric Bicycle Brand
Harley-Davidson spins out a new company called Serial 1 Cycle Company to produce pedal-assist electric bicycles. The move aims to capture a share of the booming e-bike market as the iconic motorcycle maker seeks new revenue streams.
Harley-Davidson launches a new spin-off company called Serial 1 Cycle Company that focuses exclusively on pedal-assist electric bicycles. The company name draws inspiration from "Serial Number One," the nickname of Harley-Davidson's oldest-known motorcycle, and aims to bring its first products to market in the spring of 2021.
This new venture enters a booming global e-bike market that exceeds $15 billion and continues to grow rapidly amid increased demand during the COVID-19 pandemic. While Serial 1 releases initial photos of its first model, the company keeps specific performance details and specifications under wraps for now.
The launch comes at a critical time for the Milwaukee-based manufacturer as its traditional motorcycle sales slow down due to an aging customer base. This e-bicycle push follows recent corporate restructuring that included 700 job cuts and the earlier release of Harley-Davidson's first production electric motorcycle, the LiveWire.