Harley-Davidson’s e-bike company sold off in surprise deal, planning US production

Serial 1, the premium electric bicycle brand originally started by Harley-Davidson, announced today that it has been acquired by a Florida-based manufacturer of light electric vehicles. The shake-up lays the groundwork for Serial 1 e-bikes to be produced in the US, according to a joint statement.

Just moments ago, Serial 1 announced that it had been acquired by LEV Manufacturing, formerly known as Life Electric Vehicles. LEV Manufacturing is a Deerfield, Florida-based company that specializes in designing, manufacturing, and commercializing light electric vehicles, with a current emphasis on electric bicycles. Lane VC, a mobility-focused investment firm, was also part of the acquisition.

Serial 1 was officially founded in 2020 after being spun out of Harley-Davidson as an internal project to develop electric bicycles that leveraged expertise fostered by the company’s own electric motorcycle development.

I visited Serial 1 upon its debut, testing out the brand’s first e-bikes and seeing inside their headquarters. At the time, the nascent startup was working out of a small brick building behind the main Harley-Davidson factory in Milwaukee, Wisconsin. The same building has served as something of a revolving door to house several H-D projects over the years, including Harley’s factory racing team.

The young e-bike company has changed over the three short years since, with very little of the original team remaining. Now Serial 1 is set for its biggest change yet: new ownership and a shift in manufacturing from Taiwan to Florida.

According to LEV Manufacturing, the move to US-based manufacturing and the shortened supply chain should result in lower consumer prices. Additionally, US-based service and support teams will also be added.

As the company explained:

“This is the perfect marriage of a great premium American brand with exceptional quality-driven American manufacturing. We are very excited to add more jobs to the USA and continue to create world-class products with the acquisition of Serial 1. The cost-cutting measures and the lowered MSRP will further enhance the accessibility of premium e-bikes for consumers.”

Serial 1 echoed similar sentiments in a statement vaguely attributed to the company’s executive team:

“Bringing e-bike production to the USA is an important next step for the Serial 1 Brand. We couldn’t be more thrilled to announce this acquisition with a perfect partner in LEV Manufacturing, which will help Serial 1 better serve our customers, dealers and master distribution partners worldwide. The added benefit of reducing production costs and subsequently lowering the MSRP is a significant win for our consumers and partnerships.”

Specific details are unavailable regarding the acquisition processes, including financial details or whether Harley-Davidson retains any of its former ownership of the e-bike company.