Harley-Davidson Unveils New Retro Electric Bike Serial 1

By D. Cruz Oct 28 2020, 06:21 AM EDT

Harley-Davidson started its own electric bike company in hopes of connecting with a younger audience and grow its business.

As an aging brand, Harley-Davidson has seen shrinking sales over the past year, said CNN Business.

The venture is just part of their efforts to liven up their business. It's also been almost a year since the general public has heard about the company starting an electric bike project.

From the company's announcement, it appears the year-long wait was worth it. Serial 1, the company's electric bike, was unveiled on Tuesday.

It featured a black framework, white wheels, a leather seat, and a tooth rubber belt instead of a chain. The firm had originally shown the bike in concept photos in January 2019.

Harley-Davidson said they would put the electric bike for sale in the first half of 2021.

According to The Verge, the e-bike division is a separate company under the name Serial 1 Cycle. The parent company will only become a minority shareholder in the new company.

Venture capitalists will take the majority of the new brand's shares, but Serial 1 did not reveal who these investors are. They described the move as an "outsourced effort" to expand into the e-bike industry, said FOX News.

The full-fledged motorcycles will stay under the Harley-Davidson name. The pricing and technical details on Serial 1 will be revealed in November.

Launching Serial 1 is not the first time Harley-Davidson explored battery-powered bikes. Last year, the brand launched an all-electric motorcycle called Livewire.

Nostalgia Behind Serial Number One

The name of the new e-bike company sparks nostalgia, especially to avid followers of the Harley-Davidson brand.

Serial 1 was made in reference to "Serial Number One," the nickname for the company's oldest known motorcycle in 1903. The new bike's design, from the tires to its handgrips, are meant to look back at that first prototype.

Bike specs like power levels, battery size, range, or price were still kept secret by the company. But based on photos, Serial 1 appears to work on a belt-drive system, mid-drive motor, and a frame-integrated battery.

Harley-Davidson Sales Suffer From Pandemic

Just like any other company, Harley-Davidson also experiences the negative effects of the COVID-19 pandemic. Sales went down with second-quarter revenues falling 47 percent compared to the same time last year.

But even before the pandemic, the company has already been suffering from falling profits in the last six years, according to annual reports.

The new company's president will be Jason Huntsman, who worked for the company since 2013. Also part of Serial 1 is the company's director for internal eBicycle development.

There will be two headquarters for Serial 1. One of the headquarters will be based in Milwaukee, in a building owned by Harley-Davidson. Another base will be in Salt Lake City in Utah, which brand manager Aaron Frank said is the center for outdoor industry and e-commerce.

Frank said the company is motivated to get the new bikes out quickly, especially with bikes' popularity during the pandemic.

The firm also expects to sell many of its bikes direct to consumers. Leading e-bike brands like VanMoof and Rad Power Bikes have thrived on online bike sales lately.