NEW
YORK, Nov. 30, 2022 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX), a global company focused on accelerating the
commercial adoption of electric vehicles (EV), today announces that
its subsidiary Energica now has 24 certified dealers in
the United States, which accounts
for 33% of product sales. To enable this dealer expansion,
Ideanomics and Energica secured strategic third-party
financing.
"This is a validation of our brand and products," says
Ideanomics Mobility president, Robin
Mackie. "In less than a year, Energica has doubled its
production, introduced new models with a wider market appeal and
secured its first fleet orders. With strategic third-party capital,
this growth can continue even faster."
With a newly expanded manufacturing facility featuring
state-of-the-art semi-automated assembly lines, Energica will soon
be capable of producing up to 2,000 units per year (and even more
soon after) of all four models: the Ego sportbike, the Eva Ribelle
e-fighter, the EsseEsse9 retro style bike and finally the
new Experia Green Tourer which has just begun production.
Motorcycles built at the Soliera facility are sold via
international importers or subsidiaries, to individual Energica
dealers, or in some cases, directly to customers where no dealer
representation is available. The newest Energica dealers in the
U.S. are Cross Country Cycles in New
Jersey, with two locations, Fulgora Powersports in
Orange County, California, Monarch
Powersports near Salt Lake City,
Utah, and South Sound Cycles in Tacoma, Washington State.
New dealers typically place an initial order of up to four
motorcycles as demo units for test rides. Not only does this
generate immediate revenue, but this also enables larger, long-term
sales volume as dealers and customers experience the power and
performance of Energica Motorcycles. In fact, some of the first
certified Energica dealers have consistently seen up to 10x times
the sales volume since receiving their demo bikes. In the U.S.,
Energica has plans to add another 10 certified dealers in 2023 and
to expand to additional markets in the western hemisphere.
The combination of a fast-growing dealer network and
industry-leading production capacity uniquely positions Energica to
meet orders from large fleet operators, such as police fleets.
Recently, Energica partnered with UTOMOCORP to supply 88 EsseEsse9+
bikes to the Indonesian National Police, and recently introduced a
specialty variant of the Experia designed for police
departments.
Year to date, Energica has sold 78% more motorcycles compared to
the same time last year. Additionally, Energica already has a
strong backlog of orders for its newest product offering – the
Experia electric sport-touring bike.
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
its 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.
About Northpoint Commercial
Finance
Northpoint Commercial Finance, with offices in Alpharetta,
GA, and Burlington, ON, combines experience with advanced
technologies, fresh ideas, streamlined processes, and a customer
focus formed specifically for the varied financing needs and goals
of each business. Northpoint's Inventory Finance solutions drive
sales, enhance cash flow, and improve profitability for
manufacturers and dealers. Their Asset-Based Lending solutions
maximize working capital, encourage growth, and enable
acquisitions, debt refinancings, recapitalizations and
restructurings. More information about Northpoint and its financing
solutions is available
at https://northpointcf.com/asset-based-lending/.
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 statements attributable to the
Company or persons acting on its behalf are expressly qualified in
their entirety by these risk factors. Other than as required under
the securities laws, the Company does not assume a duty to update
these forward-looking statements.
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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SOURCE Ideanomics