NEW YORK (TheStreet) -- Harley-Davidson Inc.'s (HOG) LiveWire battery powered motorcycle, which was announced a year ago, is not likely to hit the market for possibly two or three more years, the company's new CEO Matt-Levatich said in an interview, The Wall Street Journal reports.
The battery-powered motorcycles were demonstrated around the U.S. and in Europe and are part of the company's efforts to engage young adults and lower its dependence on what The Wall Street Journal calls "aging baby boomers."
The prototypes have an aluminum body and emit a low-pitched whine, which is described as quitter than a lawnmower, contrasting the bike's traditional rumble.
The company is waiting on improvements in battery technology in order for the LiveWire to give customers the performance they expect from the company's product, Harley's CEO told The Journal.
"Will we get to that Nirvana that customers say they want? Probably not," he said to The Journal. "Will we get close enough? I believe we will."
As for the launch of the bike Levatich said "not in the next couple years but it's not past 2020 either, unless we run into some impossible barrier."
Separately, TheStreet Ratings team rates HARLEY-DAVIDSON INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HARLEY-DAVIDSON INC (HOG) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins, growth in earnings per share, increase in net income and attractive valuation levels. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."