This needs to be replaced. But I have no idea where to start to find this type of connector. I think this is the altenator Coupling. Symptoms where engine shutdown, poor starting, low battery voltage. Recharged battery and bike started, charged at 14.5 volts running, but small amount of smoke coming from this connector. Pics should speak for themselves. Any ideas on sourcing a replacement?
Cut wires and solder together or use 3 plug-in connectors, and use plenty of insulation like electrical tape. If you want a more nearly factory look, Rick's Motorsport electrics sells a connector kit for the bike.