Harley-Davidson, Inc. announced in a press release today that the company has made an equity investment in Alta Motors. Alta Motors is a leader and innovator in lightweight electric motorcycles. Harley CEO also announced that the two companies will collaborate on new product development and electric motorcycles.
“Earlier this year, as part of our 10-year strategy, we reiterated our commitment to build the next generation of Harley-Davidson riders, in part, by aggressively investing in electric vehicle (EV) technology. Alta has demonstrated innovation and expertise in EV and their objectives align closely with ours. We each have strengths and capabilities that will be mutually beneficial as we work together to develop cutting-edge electric motorcycles,” said Harley-Davidson President and CEO Matt Levatich.
As we already know, Harley-Davidson has already announced the planned production of their first electric motorcycle for 2019. Since the popularity of the classic Harley-Davidson motorcycle is aging along with its riders, the company has been focusing on attracting younger customers – and electric motorcycles seem to be the most logical solution.
“Riders are just beginning to understand the combined benefits of EV today, and our technology continues to progress. We believe electric motorcycles are the future, and that American companies have an opportunity to lead that future. It’s incredibly exciting that Harley-Davidson, synonymous with motorcycle leadership, shares that vision and we’re thrilled to collaborate with them,” said Alta Motors Chief Product Officer and Co-Founder, Marc Fenigstein.
Over the next several years Harley plans to invest $25 million to $50 million annually to develop electric motorcycles.
“We believe that EV is where global mobility is headed and holds great appeal for existing riders as well as opportunity to bring new riders into the sport,” said Levatich. “We intend to be the world leader in the electrification of motorcycles and, at the same time, remain true to our gas and oil roots by continuing to produce a broad portfolio of motorcycles that appeal to all types of riders around the world.”
Source: PR Newswire