Harley-Davidson is finally producing a highly anticipated electric bike, with a target date of distribution in 18 months.

Harley-Davidson revealed during a routine earnings call earlier this week that it is producing an electric bike.

"You've heard us talk about Project Livewire," Harley-Davidson CEO and President Matt Levatich told reporters. "It's an active project we're preparing to bring to market within 18 months."

This means fans of the brand could expect the electric bike in late 2019.

Analysts predict that based on the prototype electric motorcycle released by Harley-Davidson in 2014, the upcoming bike would be capable of going from zero to 60 miles per hour in just four seconds. It should also be able to carry a range of about 50 miles.

In comparison, a standard Ducati Monster 1200 could zoom from zero to 60 miles per hour in just three seconds.

However, with the recent advances in electric engines, analysts are hoping for a better performance from Harley-Davidson. After all, the brand has yet to release its upcoming bike's name, style, battery size, and driving range.

While the arrival of an electric bike is a welcome news from Harley-Davidson, it came with a couple of bad news.

The company is closing its factory in Missouri, ending 800 jobs. It is also consolidating a plant in Pennsylvania by roughly 260 jobs. This after Harley-Davidson saw a 6.7 percent decrease in sales in 2017.

The motorcycle industry may be benefitting from its loyal followers throughout the year, but the truth is it has experienced a declining market.

Harley-Davidson may be hoping to boost its sales with an electric bike, but analysts doubt it would be strong enough to increase the dwindling sales of motorcycles worldwide.

There is hope though, if Zero Motorcycles would be the basis. That brand successfully launched the DS ZF6.5 electric bike last year, and it received positive reviews from biking enthusiasts.