electrical vehicles

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

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 […]

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Political Agendas on Electrical Vehicles Charge Up Emotions

by Colby Martin from SEMA Action Network (SAN) at https://www.semasan.com GROUNDING THE “EV” BUZZ Political Agendas Surrounding Automobiles Charge Up Strong Emotions The impending arrival of electric cars and trucks has caused quite a stir. Sure, everyone shares the well-intentioned notion of a healthier environment. But constant announcements about the potential phasing out of new gas-powered vehicles have enthusiasts worried about the future of the hobby. Thanks in part to a 24-hour news-cycle, the automotive-minded are forced to ponder this great unknown with greater frequency. With the topic weighing heavier on many minds, the question arises: what’s to become of the tailpipe—and when? Clearly there are crossed wires needing to be untangled. Acronym Soup First, we must understand the common lingo used in automotive discussions. The gasoline-sipping internal combustion engine (ICE) has long been the motivator of choice. However, the low- and zero-emissions vehicles (ZEVs) categories have emerged and made significant improvements in recent years. There are several different models of these cars and trucks such as electric vehicles (EVs), plug-in hybrids, and those running on hydrogen fuel-cells. With such competition, it may seem like traditional rides could have a tougher existence in a yet-uncertain future of alternative powerplants. Government Directives The latest update in the automotive world came from the nation’s top office: the Biden Administration. President Joe Biden signed the “Executive Order on Strengthening American Leadership in Clean Cars and Trucks” in August. In short, the measure calls for 50% of all sales of new cars and light trucks in the US be ZEV by the year 2030. “It is the policy of my Administration to advance these objectives in order to improve our economy and public health, boost energy security, secure consumer savings, advance environmental justice, and address the climate crisis,” said President Biden. Biden’s action was

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