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Harley-Davidson, Inc. (HOG - Analyst Report) is developing its first electric motorcycle, Project LiveWire. The motorcycle manufacturer is not bringing the electric bike to the market yet. Instead, it will offer customers a chance to ride the bike during the Project Livewire Experience tour to gauge their response and modify it on the basis of their feedback.

Apart from being the company’s first electric motorcycle, the other unique quality of Project LiveWire is its sound. Harley-Davidson has created a new sound for the bike. It will be different from all other electric motorcycles as well as the well known sound of Harley-Davidson’s internal combustion engine bikes. It will also offer excellent acceleration.

This year, Project LiveWire will be on tour across the U.S. and will be exhibited in over 30 Harley-Davidson dealerships. The Project Livewire Experience tour will expand to Canada and Europe next year.

Harley-Davidson is rapidly expanding its product portfolio to increase its customer base. In Mar 2014, the company launched two new bikes, the Low Rider and the SuperLow 1200T. In Nov 2013, the company unveiled two new motorcycles under its Dark Custom lineup, Harley-Davidson Street 750 and Street 500 motorcycles, which will be sold from the second quarter of 2014. These bikes are targeted at young adults in urban areas. Harley-Davidson also launched a new line of touring motorcycles, Project Rushmore, in Aug 2013. The line comprises of 8 new motorcycles.

Harley-Davidson currently carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks worth considering include Fox Factory Holding Corp (FOXF - Snapshot Report), Gentherm Incorporated (THRM - Snapshot Report) and Tower International, Inc. (TOWR - Snapshot Report). All these stocks sport a Zacks Rank #1 (Strong Buy).

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