Harley-Davidson announced intention to develop its first electric motorcycle and commercialize it in 2019.
The company says to expect the bike to hit the market within 18 months. The new bike will presumably build on the performance specs of LiveWire, the prototype electric motorcycle that Harley-Davidson launched in 2014. That bike could ride from 0-60 mph in under four seconds, which was impressive, however, it was limited to 55 miles of range in the economy mode.
Harley-Davidson announced that it is closing a factory in Missouri, which will end around 800 jobs, and that it is consolidating another plant in Pennsylvania by around 260 jobs.
The motorcycle market has lagged in recent years, and Harley-Davidson has suffered the losses. The company’s sales dipped by 6.7 percent in 2017, and is projecting a continuation of that decline in 2018. However, the development and commercialization of the new electric vehicle is expected to boost revenue of the company.