NEW YORK, Dec. 12, 2022 /PRNewswire/ --
Ideanomics (NASDAQ: IDEX), a global company focused on
accelerating the commercial adoption of electric vehicles (EV),
today announces that its subsidiary Energica has started
selling its high-performance electric motorcycles in Japan and Australia. The first batch of motorbikes will
arrive in both countries in Q1 2023.
"Japan is a key market for us.
Energica's presence in Japan was
sealed in August at the eight-hour Suzuka Circuit where our bikes
were acclaimed for their performance during the numerous test laps
at this prestigious and world-renowned endurance race," says
Livia Cevolini, Energica Motor Company CEO. "Our partnership
with Estar & Co., Ltd. in January
2020 has also improved our efforts in developing our
Asia-Pacific network."
Japan is a priority market for
Energica, where nearly 10.3 million two-wheel vehicles are
registered and more than 83,000 motorcycles over 250cc, Energica's
target market, were sold in 2021. Demand for EVs in Japan is growing fast, driven by regulations
restricting vehicle emissions and a rapidly growing EV charging
network. However, established OEMs have slowly introduced
high-performance electric motorcycles in the 250-cc category.
Energica will move fast to fill this gap and become the
high-performance electric motorcycle of choice for Japan's motorcycle enthusiasts.
In 2020, Energica established a strategic partnership with Estar
& Co., Ltd. to import motorcycles into Japan. Estar &
Co., Ltd. has opened a mono-brand showroom in Kobe, on the man-made island of Rokkō Island,
where riders can come and test drive any Energica's Eva Ribelle,
Ego and EsseEsse9+. They have also developed a distribution
network throughout the country.
In Australia, Australian
Electric Motor Co. has partnered with Energica to offer a premium
selection of electric motorcycles in Australia and New
Zealand. Last year, motorcycle sales in these two countries
hit a 15-year high with more than 100,000 new units sold, which
makes these markets lucrative for further EV expansion.
"Ideanomics has committed to extending Energica's footprint
across the globe," says Robin
Mackie, Ideanomics Mobility CEO. "This new market entry into
Japan and Australia will contribute to what we
anticipate a strong fourth quarter and long-term consistent revenue
growth."
Energica has a proven track record of supplying motorcycles to
customers across the ASEAN region. Recently, the company partnered
with UTOMOCORP to deliver 88 EsseEsse9+ bikes to the Indonesian
National Police. Additionally, Ideanomics subsidiary Treeletrik is
providing after-sales support to Energica for the ASEAN region and
has begun collaborating with Energica on joint sales and marketing
strategies.
In Europe and Asia Pacific, Energica has added 12 new sales
points since the beginning of the fourth quarter totaling 130
Energica dealers and importers worldwide. Year to date, Energica
has sold 78% more motorcycles compared to the same time last year.
Additionally, Energica already has a substantial backlog of orders
for its newest product offering – the Green Tourer Experia.
With ongoing support from Ideanomics, Energica is accelerating
the disruption of the global two-wheeler market with its
high-performance electric motorcycles. The company also provides
technology and expertise to other industries through its
Energica Inside business unit. Ideanomics is solving the
complexity of fleet electrification, offering fleet operators
everything they need to electrify faster, easier and more
affordably, all in one place.
About Ideanomics
Ideanomics is a global group with a simple mission: accelerating
the commercial adoption of electric vehicles. By bringing together
vehicles, charging and financing solutions under one roof, we are
the one stop partner needed to simplify the transition to and
operation of any EV fleet. To keep up with Ideanomics, please
follow the company on social @ideanomicshq or visit
https://ideanomics.com.
Safe Harbor Statement
This press release contains
certain statements that may include "forward-looking statements".
All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties, and include
statements regarding our intention to transition our business model
to become a next generation financial technology company, our
business strategy and planned product offerings, our intention to
phase out our oil trading and consumer electronics businesses, and
potential future financial results. Although the Company believes
that the expectations reflected in such forward-looking statements
are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of risks and uncertainties, such as risks related to: our
ability to continue as a going concern; our ability to raise
additional financing to meet our business requirements; the
transformation of our business model; fluctuations in our operating
results; strain to our personnel management, financial systems and
other resources as we grow our business; our ability to attract and
retain key employees and senior management; competitive pressure;
our international operations; and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our most recent Form 10-K and Form 10-Q
filed with the Securities and Exchange Commission, and similar
disclosures in subsequent reports filed with the SEC, which are
available on the SEC website at www.sec.gov. All forward-looking
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Company does not assume a duty to update these forward-looking
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Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116, New York,
NY 10018
ir@ideanomics.com
Theodore Rolfvondenbaumen, Communications
Director
Trolfvondenbaumen@ideanomics.com
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