The floundering EV spin off company from Harley Davidson; LiveWire have appointed a new CEO and that means H-D CEO Jochen Zeitz is out of the picture!
LiveWire’s new CEO; Karim Donnez took the reins last week after the electric bike enthusiast Zeitz left his post, or rather stepped aside, however that was always meant to be.
Zeitz was only in place for the company’s start up and launch onto the NYSE. That being successfully achieved, it was now time to insert a new CEO who could dedicate their time to developing the company further.
The problem with LiveWire is that it was supposed to be a runaway hit but stalled as soon as it started. Initial investors began pulling their money only for H-D to bail them out last year. Sales of their only EV bike; LiveWire One have been abysmal, whilst the long awaited arrival of their second bike; S2 Del Mar has been delayed so many times that many people have forgotten it was even coming.
The EV market continues to expand and more companies are joining the electrifying party but will be able to produce bikes at more competitive prices with improved designs too. This sector is evolving at quantum pace! So whilst Harley Davidson and in turn LiveWire was the first mainstream manufacturer to launch an EV bike, albeit expensive…it also fails to keep track of the modern trends too. It almost feels outdated before it is even launched…so the new CEO has a big job on his hands.
Zeitz said; “Having successfully stood-up LiveWire as a brand and listed the Company on the NYSE, I’m excited to pass the baton to Karim and to welcome him as LiveWire’s new CEO, following an extensive global search process. Karim is an entrepreneurial business leader with a demonstrable track record of driving transformational growth through both strategy development and implementation. The Board and I look forward to Karim realizing the potential of LiveWire, as we continue on the Company’s journey to lead the electrification of the sport”
Karim Donnez joins LiveWire from Bombardier Recreational Products Inc where he recently acted as the president of BRP’s Marine Group.
He will oversee the launch of the S2 Del Mar which will be the first bike that is solely from the newly launched company…although plans and designs for the S@ were already being drawn up prior to the company going independent.
Either way, as the Japanese brands enter the market and with already established EV manufacturers holding court, it will be an uphill struggle for Donnez and LiveWire to gain market share and will dramatically need to improve unit sales. But with nearly £23,000 for the LiveWire One and almost £19,000 for the S2 Del Mar with approximately only 100mile range, it would appear that there are better deals to be had in this emerging market.
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