Kymco Invests In Harley-Davidson’s Electric Motorcycle Division LiveWire – EV Updates 2022

Kymco Invests In Harley-Davidson’s Electric Motorcycle Division LiveWire – EV Updates 2022

Kymco Invests In Harley-Davidson’s Electric Motorcycle Division LiveWire – EV Updates 2022

LiveWire Kimco Partnership
LiveWire wants to expand its presence in Asia and will use the help of Kymco for that

The consortium will see Kimco acquire a 4 percent stake in Livewire

LiveWire, Harley-Davidson’s electric motorcycle division and AEA-Bridges Impact Corp (ABIC), a special purpose acquisition company, will form a new public trading company.

ABIC will pay $ 400 million (Rs 3,000 crore) in cash, while Harley-Davidson and Kymco (Taiwan’s global power sports company) will invest $ 100 million (Rs 750 crore).

Upon completion of the transaction (which is approved by the Board of Directors of both Harley-Davidson and ABIC), Harley-Davidson will retain a 74 percent stake in the new company.

Through this partnership with LiveWire, Kymco will hold a 4 percent stake in the company, as well as ABIC’s shareholders, 17 percent, similar to the founders of ABIC.

Harley-Davidson Sportster S Price
LiveWire will ensure that its EV technology applies to key segments of Harley-Davidson

The newly formed company is expected to have a net worth of approximately $ 1.77 billion (Rs 13,270 crore), including details of the Livewire Kimco partnership, according to an official statement from the Milwaukee-based cruiser bike maker.

The official statement said that the net cash flow will be used to accelerate LiveWire’s marketing strategy, invest in new product development and enhance its global production and distribution capabilities.

Through this agreement, LiveWire will benefit from Harley-Davidson and Kimco’s engineering expertise, production line, distribution, supply chain infrastructure and global logistics capabilities.

With a presence in Europe and North America, LiveWire will be the first public electric motorcycle company in the United States, with planned expansion into additional markets, including Asia.

electric vehicles updates India

credit source

Kymco Invests In Harley-Davidson’s Electric Motorcycle Division LiveWire – EV Updates 2022

#Kymco #Invests #HarleyDavidsons #Electric #Motorcycle #Division #LiveWire

if you want to read this article from the original credit source of the article then you can read from here

.

Rate this post

Platforms

Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar

My Cart Close (×)

Your cart is empty
Browse Shop