Harley-Davidson is trying to attract a new generation of riders at a very young age. The iconic motorcycle company announced Tuesday that it was buying StaCyc, which makes two-wheel electric bikes for kids.
StaCyc has two models -- the 12eDrive and 16eDrive -- that the company describes as "the perfect choice for little rippers" between the ages of 3 and 7.
The bikes have a top speed of about 10 miles per hour and sell for a range of $649 to $699.
Harley-Davidson (HOG) said in a statement that Harley-Davidson branded versions of StaCyc's two models will be available at select Harley-Davidson dealers in the United States in the third quarter of 2019.
Harley-Davidson needs new growth opportunities as the company struggles to deal with tariffs from the Trump administration that have hurt earnings.
Sales and profits are expected to fall this year and revenue is only expected to rebound slightly in 2020.
Shares of Harley-Davidson have rallied this year with the rest of the market, rising 10% so far in 2019. But the stock is trading nearly 20% below its 52-week high.
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