Harley-Davidson to set up dedicated electric-motorcycle division by 2025

Harley-Davidson also plans to invest more heavily in its core heavyweight-bike segment. Under the new Hardwire plan, Harley-Davidson aims to end a six-year streak of falling sales in the US.
By : HT Auto Desk
| Updated on: 04 Feb 2021, 09:56 AM
Representational image of Harley-Davidson Pan-America 1250.
Representational image of Harley-Davidson Pan-America 1250.
Representational image of Harley-Davidson Pan-America 1250.
Representational image of Harley-Davidson Pan-America 1250.

Harley-Davidson's shares took a nosedive after the American bike maker reported a surprise loss in the fourth quarter. The Milwaukee, Wisconsin-based firm announced an adjusted loss per share of 44 cents and its motorcycle shipments fell 48% in the quarter. Earlier this week, the company shares pared a drop as low as 22%, falling 19% to $32.52 which was recorded as the sharpest decline in almost a year.

(Also Read: Harley shares sink on loss, lackluster turnaround plan)

Now Jochen Zeitz, chairman, president and chief executive officer of Harley-Davidson has announced a new recovery five-year plan for 2021 to 2025, called 'The Hardire'. The new plan lays down Harley-Davidson's goals and aims for low double-digit growth in earnings per share and “mid single-digit" growth in motorcycle revenue by 2025.

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As a part of the new plan, the company plans to invest more heavily in its core heavyweight-bike segment and also set up a dedicated electric-motorcycle division. The company also calls for investing $190 million to $250 million annually, in part to develop electrification technology that lags behind Asian and European rivals.

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In addition to that, Zeitz said that he would also pour new effort into increasing sales of parts and accessories and Harley-Davidson's official apparel range.

As per the company CEO, Harley-Davidson will work on a 70-20-10 construct, under which a 70% focus will be laid on its core segments, 20% on new segments and 10% on other opportunities including medium/small-displacement models.

(Also Read: Harley-Davidson's bestseller Street 750, Street Rod bikes meet end of the line)

Harley-Davidson is also planning to step into newer motorcycle segments including adventure touring. While the Bronx streetfighter has been given a miss, the Pan America ADV has been slated for launch soon.

First Published Date: 04 Feb 2021, 09:56 AM IST
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