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THE PULSE • ISSUE TWO
The electric motorcycle market is rather small at its current stage in development, but it’s continually growing. Harley-Da- vidson’s involvement will de nitely bring more attention to the industry and potentially force some of their direct competitors to jump onboard as well.
Harley-Davidson Chief Financial Of cer John Olin said the company will spend $25 million to $50 million per year over the next several years on electric motor- cycle technology. Their goal is to be the world leader in the electric motorcycle market.
“Our brand stands for freedom and independence and personal freedom, and we think the brand is fundamentally sound,” said Olin.
Harley-Davidson executives are optimistic that the production version of the new electric bike will broaden their fan base and interest a new demographic of buyers, basing their research and development from the feedback of the 12,000 people that were able to ride the LiveWire.
Matt Levatich, Harley Davidson’s president and chief executive of cer, mentioned “The universal appeal of that product was the most astounding aspect of that initiative. It gave us a lot of con dence that electric motorcycles have broad-based appeal. ... They are going to sit alongside existing Harleys and garages as much as they’re going to create new interest in the sport.”
Their growing involvement in the electric motorcycle industry has been further reinforced in the past couple of days as Harley-Davidson just announced an equity investment with Alta Motors, stating that the two companies will collaborate on electric motorcycle technology and new product development. In addition to their broadening interest in the electric motorcycle industry, it was also announced that they applied for a trademark on the name “H-D Revelation.”
It’s all a part of their ten year strategy to build the next generation of Harley- Davidson riders, and they think that it’s necessary that they aggressively invest in the electric vehicle technology. Traditional Harley purists, don’t fret -- they will still continue to produce traditional, petrol-powered motorcycles as well. But, if they want to keep their reputation as the most dominant motorcycle manufacturer in the United States, they must adapt as the times change.
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