Benzinga | Oct 27, 2020 01:45PM EDT

Harley-Davidson Announces New Electric Bicycle Brand

Many auto companies are making the move to an electric future. Harley-Davidson Inc (NYSE:HOG), the company best known for loud, gas-powered motorcycles, is starting the electric journey in a different category.

Harley-Davidson announced its new brand as the Serial 1 Cycle Company, which will produce electric pedal bicycles. The name is an honorable mention to the first motorcycle produced by the company, simply named "Serial Number One."

In statements provided to Electrek, Serial 1 Cycle Company's brand director Aaron Frank said the project began with a small group dedicated to make an electric bicycle worth of the Harley-Davidson name. The first models will be available in March 2021. The current pictures shared are more of a concept, and the final design has yet to be revealed.

See Also: Meet LiveWire, Harley-Davidson's All-Electric Motorcycle

Benzinga's Take: While it's disappointing we don't have more information, starting with a bicycle sounds like a great way to venture into electric propulsion. The vehicles will need far less expensive, hard to manufacture batteries, and during this small scale ramp up, the company can become more familiar with electrification. The lessons learned could hopefully then be scaled up and applied to a full power electric motorcycle.

Harley's stock is up 26% Tuesday following a big third-quarter earnings beat.

Photo courtesy of Harley-Davidson.