Harley-Davidson's 1st electric bicycle to go on sale later this year

Interested customers can pre-order one on the company's website, and deliveries are expected to commence in the fourth quarter of this year.

"The formation of Serial 1 allows Harley-Davidson to play a key role in this mobility revolution while allowing Serial 1 to focus exclusively on the e-bicycle customer and deliver an unmatched riding experience rooted in freedom and adventure," Aaron Frank, Brand Director for Serial 1 Cycle Company, said in a statement.

In terms of design, the bicycle will come with white tires, leather saddle, hand grips and a sleek black frame. The price of the electric bicycle is yet to be announced.

According to the company, the global eBicycle market was estimated to be over $15 billion in 2019 and it is projected to grow at an annual rate of more than 6 per cent from 2020 to 2025.

In addition, BMW is making electric bikes and motorcycles, Audi is manufacturing electric mountain bikes, Mercedes-Benz has unveiled an electric scooter, Ford has acquired e-scooter startup Spin, while Jeep recently unveiled a high-powered electric mountain bike.