Harley Davidson Invests in Electric Motorcycle Startup

Photo: Antoine Antoniol/Stringer(Getty Images)

After Ferrari did it, an even more unlikely company announced it’s going the electric way — Harley Davidson. Although, unlike the Italian giant, the motor company is not going to do it solely under its name, first via investing in a start-up.

The cult American company invested in a Silicone Valley start-up which makes lightweight electric motorcycles named Alta Motors. The start-up already has several cross-like motorcycles, so it would be quite interesting to see how the fusion will end up. The financial details of the deal weren’t disclosed.

It’s a big way for Harley Davidson to come closer to the younger consumers, as its products are mostly related to the Baby Boomers generation. An urgent move by the giant as its downright trend continues. Both companies stated they are aiming to attract younger riders through the ease of riding electric motorcycles that have no gears or clutch.

Harley plans to invest between $25 to $50 million annually in order to develop electric motorcycle technology and is planning on releasing its own electric motorcycle in 2019.

h/t Yahoo