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Dec 14
Love0

Harley’s electric motorcycle division to go public via $1.7 billion SPAC deal

By General Posts

from https://www.cnbc.com/

Key Points :

  • Harley-Davidson’s electric-motorcycle division will go public through a merger with a blank-check firm in a deal valued at $1.77 billion, the company said on Monday.
  • The company launched LiveWire earlier this year, hoping to claw back lost market share as its core baby boomer customer base grows older and interest in motorcycling as a recreational activity fades.
  • Harley-Davidson will retain a 74% stake in the company, which is expected to list on the New York Stock Exchange under the symbol “LVW.”

Harley-Davidson’s electric-motorcycle division will go public through a merger with a blank-check firm in a deal valued at $1.77 billion, the company said on Monday, as the 118-year old brand bets on younger customers to boost volumes.

The company launched LiveWire earlier this year, hoping to claw back lost market share as its core baby boomer customer base grows older and interest in motorcycling as a recreational activity fades.

A broader awareness about climate change is also paving the way for automakers to lean towards greener vehicles. Valuations have gained as money managers are also increasingly factoring in ESG policies in their investments.

Harley is the latest to cash in on an uptick in valuations of electric-vehicle makers. Last month, Amazon-backed EV maker Rivian shot past $100 billion in valuation in its market debut, surpassing Ford and General Motors.

“If anything this underlines what we’ve been saying for a long time. Detroit, wake up! The train has left the station! EVs are inevitable,” Roth Capital analyst Craig Irwin said.

“Many traditional OEMs (Original equipment manufacturers) with emerging EV businesses can obviously do similar spinoff transactions,” Irwin added.

Harley’s shares rose 11.3% in premarket trading, while those of AEA-Bridges were up 3.4%.

Jochen Zeitz, Harley’s chief executive, will be the chairman of LiveWire for up to two years following the completion of the deal. In an investor presentation, LiveWire projected units sales volume of 100,961 electric bikes by 2026.

Harley-Davidson will retain a 74% stake in the company, which is expected to list on the New York Stock Exchange under the symbol “LVW.” ABIC’s shareholders will own about 17%.

Jun 23
Love0

Andy’s Harley-Davidson shuts down after 60 years of business

By General Posts

by Jacob Holley from https://www.grandforksherald.com

Andy’s Harley-Davidson will close its doors in August after 60 years of business
Andy’s Harley-Davidson will close on Aug. 1 – its 60th anniversary of business.

Andy’s Harley-Davidson will be closing Aug. 1, its 60th anniversary, after the business struggled through the last year amid COVID-19.

The pandemic took its toll on the business in 2020, as customers were staying inside and not traveling. Owner Denny Anderson said the showroom floor was empty most days, but the service department was still drawing in customers. In fact, the service department was the only thing keeping the business afloat last year.

“There was hardly anybody coming in,” Anderson said. “Everybody was staying home, except for when people were sitting at home looking at their motorcycle sitting in their garage and probably wanted to get it going again.”

The business was started by Anderson’s father in 1961. Back then, it didn’t exclusively sell Harley-Davidson motorcycles.

“We sold Triumph and Norton motorcycles,” Anderson said. “We didn’t take Harley-Davidson on until 1975.”

Anderson began working at his father’s business in 1978. He started out by sweeping floors, then moved to stocking oil and then cleaning and working on motorcycles until he eventually took over ownership duties from his father.

The microchip shortage also had an impact on Andy’s Harley-Davidson. The COVID-19 pandemic put a halt on the production of semiconductors, which are needed to make microchips. Microchips are needed to make motorcycles and many motorcycle accessories, which caused a shortage in stock. It has made selling to the few people who came into Andy’s Harley-Davidson even more difficult.

“It’s still difficult to get parts and accessories and (things like that),” Anderson said. “You can’t get something when somebody needs it, and sometimes they get a little upset. They’re kind of feeling that all over wherever they do business.”

With less money coming in and limited options, Anderson jumped at an opportunity; Harley-Davidson offered him a buyout, but he had to decide quickly. He spoke with his accountant, and that was all the deliberation he had time to do.

“I had less than a week to decide, otherwise the offer was off the table,” Anderson said.

He heard through rumblings of Harley-Davidson offering buyouts to other dealership owners in 2020 due to pandemic hardships, although the specifics of those buyouts are not publicly known.

“I caught wind of it through other dealers, and just inquired about it through our district manager,” Anderson said. “They kept it kind of quiet, which was kind of odd.”

Anderson said he wants potential customers to know he and his staff will do all they can to help any potential customers until Andy’s Harley-Davidson, located at 2756 N. Washington St., closes on Aug. 1. He is thankful for 60 years of support from Grand Forks citizens.

“I appreciate all of their business over the years,” Anderson said.

Oct 29
Love1

Screamin’ Eagle High-Flow Exhaust System and the Complete H-D Experience!

By General Posts

Installing a High Flow Exhaust System On A 2019 Street Glide

Back in September 2018 I had the Harley-Davidson Screamin Eagle Exhaust sitting in a box waiting to go on my new 2019 Street Glide. While out doing some break-in miles, I was struck by a driver illegally making a left-hand turn. While still in my recovery I decided to look for another bike for the exhaust. It’s usually the other way around but hey, what the heck.

I went into Space Coast Harley Davidson, the largest dealer in the world, and met Jon Estep the Sales Associate, a straight shooter and knows his bikes. He helped me browse around the 2019 and 2020 Street Glides, based on my preferences I went with a Vivid Black 2019 Street Glide Special with Tony Ane, the sales manager giving me a great deal without all the haggling.

CLICK HERE TO READ THE TECH ARTICLE IN THE CANTINA