Continued on page 8 Dates / venues subject to change or cancellation . (*) Some dates provisional . " Check before you buy "
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2022 Dates
Motor Bike Expo ( MBE ) Verona , IT • Jan 13-16 www . motorbikeexpo . it
AIMExpo Las Vegas , US • Jan 19-21 www . aimexpousa . com
Garage Brewed Cincinnati , US • Jan 29 www . garagebrewed . com
Motorama Madrid Madrid , ES • Feb 4-6 www . motorama . es
MP 22 Motorcycle Show Helsinki , FI • Feb 4-6 www . mp . messukeskus . com
MCN London Show London , GB • Feb 11-13 www . mcnmotorcycleshow . com
MotorBeurs Utrecht , NL • 24-27 Feb www . motorbeursutrecht . nl
Salon du 2 Roues Lyon , FR • Mar 3-6 www . salondu2roues . com
Motosalon Brno , CZ • Mar 3-6 www . bvv . cz / motosalon
Mama Tried Milwaukee , US • Mar 4-6 www . mamatriedshow . com
Daytona Bike Week Florida , US • Mar 3-14 www . officialbikeweek . com
Warsaw Motorcycle Show Warsaw , PL • Mar 11-13 www . motorcycleshow . pl
Mecanic Show Pecquencourt Pecquencourt , FR • Mar 13-14 www . mc-pecquencourt . fr
Tokyo Motorcycle Show Tokyo , JP • Mar 25-27 www . motorcycleshow . org
Handbuilt Austin , US • Apr 8-10
The One Show Portland , US • Apr 28-May 1 www . the1moto . com
BikerFest Lignano Sabbiadoro , IT • May 19-22 www . bikerfest . it
<<< Continued from cover company in the U . S . By building on Harley-Davidson ' s 118-year lineage , LiveWire ' s mission is to be the most desirable electric motorcycle brand in the world , leading the electrification of the sport . " This transaction will give LiveWire the freedom to fund new product development and accelerate its go-tomarket model . LiveWire will be able to operate as an agile and innovative public company while benefitting from the at-scale manufacturing and distribution capabilities of its strategic partners , Harley-Davidson and KYMCO ." John Garcia , Chairman and Co-CEO of AEA-Bridges Impact Corp , is quoted as saying : " We are at the confluence of two seminal shifts impacting the industry - vehicle electrification and sustainability . LiveWire is well positioned to become the premier sustainable electric motorcycle brand and redefine the industry by leveraging the manufacturing and distribution expertise of Harley-Davidson and KYMCO . We ' re excited to partner with Harley-Davidson and the LiveWire team to help define the future of electric motorcycles as the industry continues its rapid transformation ." Harley ' s statement concludes by stating : " Together , Harley-Davidson , ABIC and KYMCO believe in the future of LiveWire as a dedicated electric brand with the ability to lead , grow and revolutionize the electric motorcycle industry and beyond ."
LiveWire Investor Presentation
In the 59-page slide presentation that Harley and AEA-Bridges released to ' pimp ' the " attractive risk-adjusted EV investment opportunity " that the plan is claimed to represent , there is considerable ' tap dancing ' around core assumptions about the prospects for the EV market in general and the powersports and motorcycle markets in particular . In order to try and arrive at a compelling reason to invest , Harley and AEA-Bridges are using some
Harley Chairman , CEO and President Jochen Zeitz will additionally be Chairman and acting CEO of LiveWire ( NYSE Ticker Symbol " LVW "), with LiveWire ' s results consolidated into Harley ' s fiscals as a separate segment .
Launched in summer of 2021 , ' LiveWire One ' is a tech-rich and more reasonably priced Mk II LiveWire ( approx . $ 20k ) that did much to reboot the stand-alone LiveWire brand against a previously unrealistic $ 30k price-point for the first ' More Roads ' strategic plan ' s iteration of Harley ' s entry into the electric vehicle market .
pretty ambitious forecasts for the market and for LiveWire ' s performance in it . The mission statement for the deal is that it " enables Harley-Davidson and LiveWire to pursue complementary strategies and invest behind diverging market trends to maximize long-term shareholder value ." The growth projections that Harley and AEA-Bridges have are ambitious . From sales of 387 LiveWire units worth $ 33m in 2021 , Harley is projecting that LiveWire will sell 100,961 units worth $ 1.769bn as soon as 2026 - just five years from now . This is then slated to double to approx . 190,000 units by 2030 ( worth around $ 3bn in total revenue ). Harley is forecasting an 18.6 % gross margin for LiveWire with a 6.1 % EBITDA margin in 2026 en route to a long-term forecast of 20-30 % gross margin and 15-20 % EBITDA margin .
AEA-Bridges Impact Corp . - the Special Purpose Acquisition Company ( SPAC ) into which LiveWire is being reversed - is stated to have completed its $ 400m IPO on October 1st , 2020 . The principle of using a SPAC in order to go-to-market ( as opposed to its own IPO or a Direct Listing ) is that it absolves LiveWire from being exposed to the vagaries , uncertainties and
' forward thinking disruptor in the electric space '
potential bad karma of trying to stage its own IPO . LiveWire will have immediate access to some $ 545m in cash on its balance sheet . The company appears to imply that the transaction proceeds will be sufficient to cover product development ( design , development , testing and validation of new products and next generation EV and vehicle systems capability development ), sales and distribution ( build-out of experience centers and dealer display rooms , and upgrading dealer
6 AFTERMARKET MOTO DESIGN - JANUARY 2022 www . AMDchampionship . com