Harley-Davidson, Inc. HOG reported that it has invested in Alta Motors. Headquartered in Brisbane, CA, the latter is a manufacturer of advanced electric motorcycles and lightweight electric vehicle (EV) drivetrains. Additionally, the two companies will team up to develop electric motorcycle technology and will focus on product developments.
This recent progress of Harley-Davidson’s investment in EV technology is in line with its 10-year strategy to build its next-generation riders. Also, the company aims to introduce its first electric motorcycle in 2019. With this collaboration, both the companies aspire to pull new customers through their launch of electric motorcycles minus gears or clutch.
Per management, Harley-Davidson aims to be a world-leader in motorcycle electrification and at the same time, it aims to remain committed to its broad portfolio of gas and oil motorcycles for the riders, globally.
Harley-Davidson, Inc. Price and Consensus
Based in Milwaukee, WI, the company is a leading designer and manufacturer of heavyweight motorcycles and related products and merchandise.
In the last six months, shares of Harley-Davidson have underperformed the industry it belongs to. During the period, the company’s stock has declined 4.8% in comparison to the industry’s gain of 0.3%.
Zacks Rank & Key Picks
Harley-Davidson has a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Volkswagen AG VLKAY, LKQ Corporation LKQ and Peugeot S.A. PUGOY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Volkswagen has an expected long-term growth rate of 18.7%. In the last six months, shares of the company have gained 25.2%.
LKQ Corp has an expected long-term growth rate of 16%. In the last six months, shares of the company have gained 13.4%.
Peugeot has an expected long-term growth rate of 16.7%. In the last three months, shares of the company have gained 17%.
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