Harley-Davidson Inc. On Monday, launched an all-electric motorcycle brand "LiveWire," the company to ramp up bets on the rapidly growing electric-vehicle market.

The "LiveWire" division, named after Harley's first electric motorcycle, introduced in 2019, is set to release its first branded motorcycle in July.

The company said in February it would create a separate division focused on electric vehicles, as it aims to attract the next generation of younger, more environmentally conscious riders.

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"We are seizing the opportunity to lead and define the electric vehicle market," Chief Executive Officer Jochen Zeitz said in a statement on Monday.

LiveWire also plans to innovate and develop technology applicable to Harley-Davidson electric motorcycles in the future.

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