The big issue is causing damage to semiconductor devices, such as an electronic regulator for the dynamo.
Where I sub-contract my services as an auto-electrician a lot of welding is done on modern trucks, which are cram-packed with electronics. The procedure carried out is that stipulated by Mercedes Benz, to leave everything connected with the exception of the battery leads, which are bolted together. That way any stray voltage from the welder is on both sides of any devices, so the potential difference is zero.
If you're welding the frame the welder earth clamp should be on the frame as close to the welding point as possible.