TAIPEI (Taiwan News) — Taiwan’s Kwang Yang Motor Co. (KYMCO) has signed a strategic agreement with LiveWire, the electric motorcycle division of the iconic Harley-Davidson brand, reports said Thursday (Dec. 16).

KYMCO Chairman Allan Ko (柯勝峯) described the deal as “a perfect match” between two companies that complement each other’s strengths, CNA reported. The design of an advanced common platform for electric motorcycles will improve the image and international recognition of the Taiwanese brand, according to Ko.

The deal, announced on Dec. 13, includes US$100 million (NT$2.78 billion) of total KYMCO investment in LiveWire. Ultimately, the Taiwanese company will own 4% of LiveWire’s shares once it is listed on Wall Street, according to the CNA report.

Ko described the move as an “unprecedented brand alliance” and a major step forward at a crucial time in the development of the motoring industry. The two companies are strong in their own product segment, geographical area, market influence, and R&D efforts, he said.