Kwang Yang Motor Co (光陽工業), which sells gas-powered scooters under the brand KYMCO, yesterday said it is “seriously” studying the feasibility of spinning off its electric scooter unit as a prelude to an initial public offering (IPO), likely overseas, to raise its brand equity worldwide and facilitate its recruitment of top talent.
“Kwang Yang has no plan to go public, but the company is likely to spin off its electric scooter division for an IPO,” Kwang Yang chairman Allen Ko (柯勝峰) said during an interview with a small group of reporters in Taipei.
“We might follow the model of Harley-Davidson Inc, which
The cooperation between KYMCO, the nation’s largest motorbike brand, and Harley-Davidson Inc on the development of electric motorcycles would be mutually beneficial, Kwang Yang Motor Co (光陽工業) chairman Allen Ko (柯勝峰) said yesterday.
“As the auto and motorcycle industry faces a critical turning point, this first-of-its-kind partnership in the business of motorcycles will create a new dimension in the electric motorcycle market,” Ko told a news conference in Taipei.
Harley-Davidson on Monday announced that it would list its electric motorcycle division, LiveWire, on the New York Stock Exchange through special purpose acquisition company AEA-Bridges Impact Corp.
The partners would invest US$100 million each,