Motorcycle maker Harley-Davidson is spinning off its electric bikes division and listing it on the stock market through a merger with a blank-cheque company, taking a similar route as other electric vehicle groups that have gone public.
Harley’s electric motorcycle unit, LiveWire, is set to merge with AEA Bridges Impact Corp, a special purpose acquisition company (Spac) run by executives of private equity firm AEA Investors and investment group Bridges Fund Management. The deal gives LiveWire an enterprise value of $1.8bn.
LiveWire’s listing makes it the latest electric vehicle company to go public via a Spac deal this year as investors have clamoured to fund companies promising to revolutionise the future of transport.