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Harley-Davidson enters the electrical bike enterprise

Harley-Davidson has launched a new electric bike business and plans to launch its first line of products in the spring of 2021.

The new business, called Serial 1 Cycle Company, started as a project in the motorcycle maker's product development center. The name comes from "Serial Number One", the nickname for Harley-Davidson's oldest famous motorcycle.

The pedal assist electric bike company is founded in a booming e-bike industry driven by the growing demand for the COVID-19 pandemic. The global eBicycle market was estimated at over $ 15 billion in 2019 and is expected to grow more than 6% annually from 2020 to 2025, according to Harley-Davidson.

The new Harley-Davidson brand Serial 1 did not provide any performance details or other specifications of their new line of electric bicycle products. However, the company released several photos of its first model.

Harley-Davidson e-bike

Credit: Harley Davidson

The restart of the business also comes at a critical time for the Milwaukee-based motorcycle maker, whose sales have slowed as its core customer base ages out of its motorcycles.

In July, Harley-Davidson cut 700 jobs from its global business as part of an internal reorganization plan called "The Rewire". The plan, first addressed by Harley-Davidson Chairman, President and CEO Jochen Zeitz, in the company's earnings report in April, followed the launch of the company's first production electric motorcycle, Livewire.

"By founding Serial 1, Harley-Davidson can play a key role in this mobility revolution and Serial 1 can focus exclusively on the eBicycle customer and offer an unparalleled driving experience based on freedom and adventure," said Aaron Frank, the brand of des new company director said in a statement.

Harley-Davidson said Jason Huntsman is the president of Serial 1 Cycle. The rest of the executive team consists of Ben Lund, Vice President of Product Development, and Hannah Altenburg, Lead Brand Marketing Specialist.

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