Ideanomics increased their stake in Italian electric motorcycle manufacturer, Energica, now 70% stake and driving growth to their dealer network in U.S.
Ideanomics and Energica announced they have entered an agreement to increase the stake of Ideanomics in Energica for shares of Energica Motor Company S.p.A. (Energica). Pursuant to which Ideanomics plans to increase its investment in Energica to approximately 70%. The Energica Founders shall continue to own 29% of Energica.
Energica almost doubled their sales numbers in 2020 and the first half of 2021 has been strong with the company accepting its largest order to date. This strong demand is fueling a quick expansion in the European market as well as in Asia, the Middle East and Africa (AMEA).
With its investments in Energica, Ideanomics further expands its global footprint in the electric vehicle (EV) industry, particularly in the high-growth two-wheeler space, complementing Ideanomics’ Treeletrik business, based in Malaysia and serving the ASEAN market.
“The two-wheeler electric market is poised for significant growth, and we couldn’t be more excited about the synergies between Ideanomics and Energica that will allow us to be a prime player in this space,” “This vibrant piece we are adding to the mobility business will not only expand our market reach, but also add significant weight to the mechanical expertise and technology innovation in the two-wheeler space.”Shane McMahon, Executive Chairman of Ideanomics.
The Energica lineup of high-performance electric motorcycles:
- Energica EGO, EGO+ and EGO+ RS: The Energica EGO series offers riders the highest top speed and sustained performance of any electric motorcycle. Coupled with nimble handling even at lower speeds, the bike sports immense torque, acceleration, sophisticated on-board technology, and DC Fast Charging (DCFC) as standard – all with zero emissions.
- Energica EVA Ribelle and EVA Ribelle RS: A true electric e-fighter, Energica’s EVA Ribelle is the naked version of the Energica EGO, with the same torque, power, acceleration, and range, with key differences being riding position and top speed. Perfect for aggressive riding, or an assertive-yet-upright riding position instead of the typical track day crouch. The EVA Ribelle also easily transforms into a long-distance sport touring bike with the simple addition of side panniers, windshield, and tank bag.
- Energica EVA EsseEsse9, EVA EsseEsse9+ and EVA EsseEsse9+ RS: The Energica EVA EsseEsse9 shares the technology of both the EGO and the EVA Ribelle, but is made more suitable for casual riding. The EVA EsseEsse’s classic bench seat and relaxed riding position make it perfect for two-up riding and the preferred choice for long-distance electric wanderers around the world.
With the new increased stake in the company, Ideanomics plan to continue expanding the U.S. dealership network and solidify Energica’s electric motorcycles position in United-States and globally.
“We are grateful for Energica’s continued interest in growing synergistically alongside other brands within the Ideanomics Mobility ecosystem,” “With exceptional management and leadership in place and a full range of innovative zero-emissions products already in market, we believe Energica has the opportunity to benefit strongly from Ideanomics Capital’s resources, transforming their growth trajectory and positioning them as a global leader in the electric motorcycle market.”Alf Poor, CEO of Ideanomics.
According to financial estimates, the global high performance electric motorcycle market is expected to grow at a CAGR of more than 35% from 2019-2024. Energica, being the single chosen manufacturer chosen by Dorna for the FIM Enel MotoE™ World Cup, has already proven their technology for racing purposes.
“We are thrilled to further our relationship with Ideanomics as they continue to expand their global footprint in the EV industry, especially the promising two-wheeler market,” “Ideanomics provides access to a synergistic network of innovative companies addressing global challenges within the zero-emission transportation segment. We look forward to continued growth, innovation and collaboration within the Ideanomics ecosystem.”Livia Cevolini, CEO of Energica Motor Company S.p.A.
This bring up the heat in the performance electric motorcycles space. With the leading competitors being the Zero SR/F, SR/S, that carry an 82kW motor with 110HP, as well as Damon motorcycle’s HyperSport with an expected 100-200HP depending on the model variant.
There are many other manufacturers that also compete in the space, some with better performance motorcycles and more horse power, while others stay in the 100HP range or close to it. With the likes of the Brutus Motorcycles’ V2 Rocket with 100kW motor sporting 130HP, and even the Soriano Motori GIAGUARO V1 GARA with 75 kW 100HP.
Regardless of the amount of players in the space, the evident demend for performance motorcycles, is here to stay. The more technology develops towards better motor and battery performance, increasing the power and range for these bikes, and reducing range anxiety (if you really still have any…) and getting more riders on electric 2 wheels.