The Wall Street Journal headline reads:
Harley-Davidson Wanted an Electric Revolution. That Dream Is in Trouble.
LiveWire’s CEO leaves and a restructuring officer takes over as losses mount at once-hyped spinoff
According to John Keilman’s by-lined report, “From the start, electric motorcycle maker LiveWire has struggled to find its lane. It made its first appearance in 2014 as a futuristic, much-hyped model from Harley-Davidson, best known for making bikes with roaring gas-powered engines. When it finally went on sale five years later, the reviews were rapturous. LiveWire predicted at its first investor day that it would sell more than 100,000 motorcycles annually by 2026.
By the middle of this year, it shipped only 358.
Those struggles came to a head on Monday when LiveWire announced that a special restructuring committee is weighing the company’s options following the resignation of Chief Executive Karim Donnez last week. The committee appointed Roy Gallagher, senior managing director of Ankura Consulting Group, to be the company’s chief restructuring officer.
The company said the moves are “intended to facilitate a comprehensive evaluation of our strategic alternatives.” LiveWire shares closed up 2% Monday, though they are down 62% since the start of the year.”
See the full story at the Wall Street Journal:
