Harley-Davidson (NYSE:HOG) fell on Monday as it halted production and delivery of its first electric motorcycle after discovering a power problem, the Wall Street Journal reported.
- The company told some of its dealers last week that it was stopping production of its first electric motorcycle, dubbed LiveWire, in order to carry out tests on the vehicle’s charging mechanism, the WSJ reported. Harley also said that it didn’t know when it would resume deliveries of the motorcycle.
- Following a decline in sales for its traditional bikes, the company had pinned its hopes on reviving sales by rolling out its first electric motorcycle. Harley has seen its performance weighed down by a decline in motorcycle shipments.
- Harley's stock was down 1% and is up just 1.5% for the year so far.
