Harley-Davidson’s Electric Motorbike Brand Has ‘Substantial Doubt’ About Its Future

Harley-Davidson’s electric motorcycle spinoff LiveWire has raised “substantial doubt” about its ability to continue as a going concern, the company said in its latest financial report. LiveWire cited “recurring operating losses, negative cash flows… and limited liquidity resources” as contributing factors to its determination. The warning comes despite a rise in LiveWire’s sales this quarter and its 80 percent market share in the 50+ kW on-road EV segment.

To address those issues, LiveWire said it has formed a “special restructuring committee” to explore financing, a sale, restructuring, strategic partnerships and other options. It withdrew previous guidance projecting a 2026 operating loss in the $70 million to $80 million range. (Harley-Davidson held a 74 percent stake in LiveWire when it spun the company off into a separate unit by a SPAC merger in 2022.) 

The warning comes just as LiveWire is releasing its LiveWire S4 Honcho series with a starting price under $5,000. The company said it has delivered the first units of that model to the US market with the S4 Honcho Trail, and plans to ship the S4 Honcho Street version to dealerships in October. Livewire recently revealed a new model called the Dust Spur as well. 

The electric motorcycle market has grown steadily over the last five years, with sales reaching a record 10.17 million units in 2025. However, ICE motorcycles still dominate market share with nearly 88 percent of sales (2024), according to Mordor Intelligence. Much of the market growth is concentrated in southeast Asia and Africa, regions that saw 83 percent and 86.9 percent growth, respectively, in 2025. The North American market expanded by 27 percent last year. 

LiveWire’s struggles are unfortunate, given Harley-Davidson’s legacy as an American icon. The company’s new, cheaper e-motorbikes could help it expand in other territories and boost cash flow, provided it can navigate its current financial troubles.