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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%.

Dec 10
Love0

Lon Nordbye Joins Electrify Expo

By General Posts

Lon Nordbye brings two decades of leadership experience

Lon Nordbye Joins Electrify Expo as Business Development and Sponsorship Executive

(Sioux Falls, SD December 9, 2021) Lon Nordbye has joined Electrify Expo, North America’s largest Electric Vehicle Festival to lead Business Development and Sponsorship efforts. A recent recipient of ‘Expo of The Year’ honors at the 2021 IMPACT Conference, Electrify Expo is focused on scaling the experiential platform, and this appointment highlights the commitment to achieve that.

Nordbye brings two decades of leadership experience in business development and integrated marketing to the Electrify Expo executive team. Lon Nordbye most recently served as VP of Strategy & Commercial Development at the Sturgis Buffalo Chip where he played a significant role in developing some of the rally’s most successful promotions, events, and brand partnerships.

“Our team is excited for Lon to join the company and know he will make immediate contributions that will benefit our partners and fans,” said BJ Birtwell, Founder and Executive Producer of Electrify Expo.

In his new role with Electrify Expo, Nordbye will lead development of Electrify’s e-motorcycle, e-bike, e-scooter, e-skate, and e-surf lifestyle categories. He will also oversee larger scale activations with national, non-endemic brands looking to reach the e-mobility consumer.

“BJ, Jeff and their dynamic team have not only pioneered how consumers engage and interact with e-mobility, they’re pushing the industry, culture and lifestyle of electric mobility forward,” said Nordbye. “I couldn’t be more excited to join an enterprising team and get immersed into the day-to-day work to achieve the high expectations we have for Electrify as well as ourselves.”

Electrify Expo is a weekend festival that takes place multiple times per year featuring the world’s leading brands in e-mobility. Consumers get the opportunity to demo and drive the best electric vehicles the industry has to offer as well as engage with interactive brand displays, enjoy live music and more.

2021 took Electrify Expo to Southern California, Miami, and Austin. 2022 will add additional events in hot e-mobility markets.

Companies interested can learn more by visiting: https://www.electrifyexpo.com/exhibits-press#Exhibitors

About Electrify Expo:

Attend North America’s largest Electric Vehicle event! Fun for all ages, Electrify Expo is a weekend festival that gathers the World’s top EV manufacturers all in one place!

Come see your favorite electric car, motorcycle, bike, scooter, skateboard, surfboard, e-foil and other electric mobility brands as they show off their latest products and technology. Visit their interactive displays, talk with EV experts, and BEST OF ALL, take a free test drive on one of our thrilling demo courses. Kids, have fun on the latest stability bikes or play in the Kids Zone!

With over 500,000 square feet of exhibit and festival space, Electrify Expo is a full day of electrified fun mixed with great food, drinks, music and more. Yes, this is an e-mobility party and everyone is invited!

Sep 06
Love1

Piaggio, KTM, Honda and Yamaha set up swappable batteries consortium

By General Posts

by Reuters from https://www.investing.com

MILAN (Reuters) – Italian scooter maker Piaggio said on Monday it had set up a consortium with Honda Motor Co., KTM AG and Yamaha Motor Co. to encourage the use of swappable batteries for electric motorcycles and light electric vehicles.

The Swappable Batteries Motorcycle Consortium (SBMC) aims to broaden the use of light electric vehicles, such as scooters, mopeds and motorcycles, and support a more sustainable management of their batteries, a joint statement said.

It will focus on issues such as battery life, recharging times, infrastructure and costs and will work on defining international standard technical specifications for swappable batteries.

The companies in the consortium said they welcomed others joining them to extend standards to as many companies as possible.

“Urban mobility is going through a delicate transition moment towards electrification. Thanks to this consortium, motorbikes will keep their key role,” Piaggio Chief of Strategy and Product Michele Colaninno said.

Honda’s Motorcycle Operations Chief Officer Yoshishige Nomura said the consortium’s objectives aimed to make electric motorbikes more convenient for clients, as their “use on large scale can substantially contribute to the creation of a more sustainable society”.

Piaggio Group owns iconic two-wheeler brands such as Vespa, Aprilia, Moto Guzzi, among others.