Harley-Davidson's 1st electric bicycle to go on sale later this year - All you need to know

Harley-Davidson unveiled its first-ever electric bicycle -- Serial 1 -- inspired by the brand's very first motorcycle from 1903 last year and now the company has said that it will only make 650 units, half of which will be available for purchase in the US.

Interested customers can pre-order one on the company's website, and deliveries are expected to commence in the fourth quarter of this year, The Verge reported.

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"The formation of Serial 1 allows Harley-Davidson to play a key role in this mobility revolution while allowing Serial 1 to focus exclusively on the e-bicycle customer and deliver an unmatched riding experience rooted in freedom and adventure," Aaron Frank, Brand Director for Serial 1 Cycle Company, said in a statement.

In terms of design, the bicycle will come with white tires, leather saddle, hand grips and a sleek black frame. The price of the electric bicycle is yet to be announced.

According to the company, the global eBicycle market was estimated to be over $15 billion in 2019 and it is projected to grow at an annual rate of more than 6 per cent from 2020 to 2025.

In addition, BMW is making electric bikes and motorcycles, Audi is manufacturing electric mountain bikes, Mercedes-Benz has unveiled an electric scooter, Ford has acquired e-scooter startup Spin, while Jeep recently unveiled a high-powered electric mountain bike.