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Harley-Davidson Defends LiveWire Spinoff After Stock Decline

  • LiveWire EV motorcycle SPAC raised half of targeted proceeds
  • CEO Zeitz says electrification requires standalone EV company
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Jochen Zeitz, the chief executive officer of Harley-Davidson Inc., shrugged off the lackluster debut of the company’s electric motorcycle division via a blank-check merger, arguing it’s the right strategy for the 119-year-old manufacturer.

LiveWire Group Inc., the standalone electric motorcycle brand spun out of Harley-Davidson, raised $295 million on Sept. 27 after closing its merger with AEA-Bridges Impact Corp., a special purpose acquisition company. That’s far short of the $545 million anticipated when the deal was announced in December.