Florida-based e-bike manufacturer LEV Manufacturing (formerly known as Life Electric Vehicles) and mobility focused investment firm Lane VC have acquired Serial 1 Cycle Company, the e-bike brand established in 2020 by Harley-Davidson.
The acquisition will see Serial 1 establish e-bike assembly in the USA, “seamlessly aligned with the company's growth strategy”.
The company said: “Serial 1's partnering with LEV Manufacturing ensures its commitment to quality and Serial 1's premium e-bike offerings will be upheld by a dedicated in-house production team in the USA.
“The addition of new USA-based service and support teams is great news for consumers who will see lower bike prices throughout the Serial 1 dealer and sales network.”
LEV Manufacturing's assembly plant utilises free-trade zone processes, endorsed by a United States Certificate of Origin, eliminating third party manufacturing, which the company said will result in “more cost-effective production”, allowing for lower pricing.
Serial 1 e-bikes currently start at €3,999 (£3,450) for the MOSH/CTY model.
Serial 1's executive team said bringing e-bike production to the USA was an, “important next step for the Serial 1 brand”.
They said: “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.”
LEV Manufacturing said the company was “very excited” to “continue to create world-class products with the acquisition of Serial 1."
Last year Harley Davidson also spun off its electric motorbike division, which now trades as LiveWire.