New Delhi: Premium bike maker Harley Davidson on Monday announced its plans to rollout lighter motorcyles, expansion of all retail channels and operating investments to the tune of USD 550 million by 2022.
In total, the company plans to generate more than USD 1 billion of incremental annual revenue in 2022 as compared to 2017.
Capital investments of USD 225 to USD 275 million is lined up through 2022, the company said in a statement.
The company said it expects to improve Return on Invested Capital (ROIC), increase revenue and earnings, and return more cash to shareholders.
Harley Davidson will launch its first electric motorcycle, LiveWire in 2019.
LiveWire will be followed by additional models through 2022 to broaden the portfolio with lighter, smaller and even more accessible product options.
As part of its growth plan through 2022, the company will develop a more accessible, small-displacement 250cc to 500cc motorcycle for Asia emerging markets through a planned strategic alliance with a manufacturer in Asia.
The new lineup is intended to fuel Harley-Davidson‘s customer access and growth in India, the company said.
Besides, it will introducing a new modular 500cc to 1250cc middleweight platform of motorcycles that spans three distinct product spaces and four displacements.
“The bold actions we are announcing today leverage Harley-Davidson’s vast capabilities and competitive firepower – our excellence in product development and manufacturing, the global appeal of the brand and of course, our great dealer network,” said Matt Levatich, president and chief executive officer, Harley-Davidson Inc.
In order to expand its access, the company is looking at establishing strategic alliances with global leading e-commerce providers to extend access to new customers.
Harley Davidson said it will advance its market delivery approach and meet today’s customer needs by working on new retail formats — including smaller, urban storefronts globally to expose the brand to urban populations and drive sales of the expanded product portfolio and expand international apparel distribution.
“Our plan will redefine existing boundaries of our brand – reaching more customers in a way that reinforces all we stand for as a brand and as a company and we can’t wait to kick it into gear,” Levatich said.