There’s one company that now sells nearly three-quarters of all full-size electric motorcycles in the US. And no, it’s not some scrappy startup out of Silicon Valley (though there are some very cool California-based electric motorcycle startups).
It’s actually LiveWire – the Harley-Davidson-born electric motorcycle spinoff that just claimed a 70% market share in the 50+ horsepower on-road electric motorcycle segment in 2025.
On paper, that sounds like dominance. And in a very specific slice of the market, it is. If you want a full-size, highway-capable electric motorcycle, LiveWire has essentially become the go-to brand in the US, even if there are a limited number of companies competing for the top spot.
But here’s the catch: that slice of the market is still tiny.
Market leader… of a very small market
LiveWire reported 653 electric motorcycles sold in 2025, up 7% from 612 units in 2024. In the fourth quarter alone, motorcycle unit sales jumped 61% year over year to 381 bikes, which helped the company end the year on what it called “continued momentum,” though likely helped by a major sale on its models to encourage demand.
Those numbers still show growth, but it is important to keep them in perspective. Just 653 electric motorcycles in a year is not exactly reshaping the powersports industry. Even with 70% market share in the 50+ hp electric segment, we’re talking about a niche within a niche.
Revenue in the electric motorcycle segment actually fell 28% year over year, from $8.4 million in 2024 to $6.1 million in 2025, largely due to those previously mentioned increased incentives that reduced pricing.
That’s not exactly a runaway success story, even if LiveWire is undeniably leading the pack.
The balance bike business is carrying the weight
If you really want to understand LiveWire’s volume story, you have to look at its other segment: STACYC.
STACYC sells electric balance bikes for kids and recently added small electric bikes for teens. And that’s where the unit numbers actually are.
In 2025, STACYC sold 21,633 units. Compare that to 653 electric motorcycles. Out of 22,286 total units sold by LiveWire Group last year, the overwhelming majority were balance bikes.
To LiveWire’s credit, STACYC is improving. Revenue rose 7% year over year, and operating losses shrank significantly thanks to lower fulfillment costs and reduced spending. It even posted a small operating profit in Q4.
Meanwhile, the electric motorcycle segment still posted a $73.8 million operating loss for the full year, though that’s an improvement from a $105.5 million loss in 2024.
Financial picture: better, but still red
LiveWire reduced its consolidated operating loss by 32% year over year, bringing it down to $75.5 million in 2025. Free cash flow improved by 44%, and net losses narrowed from $93.9 million to $75.1 million.
That’s meaningful improvement. The company has clearly been cutting costs and tightening operations. But for 2026, it’s still guiding toward an operating loss of $70–80 million.
So while the trajectory is improving, we’re not looking at a massive turnaround just yet. And while everyone agrees that the future is undeniably electric, the motorcycle industry famously lags a decade or two behind the automotive industry, and so the current record-breaking EV car sales aren’t likely to translate into EV motorcycle dominance for many years to come.
The S4 Honcho: the bike that might actually matter
If there’s a real potential inflection point here, it’s the upcoming S4 Honcho, expected to enter production in Spring 2026.
LiveWire’s current bikes – like the S2 Del Mar, which launched its smallest platform, the S2 Arrow system – target the premium, full-size electric motorcycle segment. But that segment simply hasn’t shown explosive growth. High price points and modest battery capacity dependent on well-distributed charging stations have limited demand.
The S4 Honcho, however, is aimed squarely at the one electric motorcycle segment that is actually growing: small-format, lightweight electric bikes in the Sur Ron and Talaria category.
That market is booming – especially among younger riders – but it’s largely dominated by off-road-focused machines with questionable street legality and limited dealer support.
If LiveWire can deliver something with the fun, lightweight adventure feel of a Sur Ron – but fully street legal, backed by a major company, and supported by a nationwide Harley-Davidson dealer network – that could be a very different story.
It would finally put LiveWire into a segment where buyers are actually showing up in meaningful numbers. Think of it like an electric Honda Grom, but with a bit more attitude and spunkiness, and a much more in-touch marketing department.
Author: Micah Toll
Source: Electrek
Reviewed By: Editorial Team
