Ideanomics Invests in Italian Electric Motorcycle Company, Energica Motor Company
March 09 2021 - 9:19AM
InvestorsHub NewsWire
- Ideanomics acquires a 20% stake in Energica Motor
Company, a leading manufacturer of high performance electric
motorcycles
- According to Schmidt Automotive Research, the Western
European EV market has surpassed China and is the largest market in
the world
- Europe's electric motorcycle market grew over 50% in
2020, mirroring the electric car market
NEW YORK, March 9, 2021 -- InvestorsHub NewsWire
-- Ideanomics (NASDAQ: IDEX)
("Ideanomics" or the "Company") is pleased to announce it has
acquired 20% of Italian Energica Motor
Company S.p.A. (Energica) for the consideration of $13.2
million. It develops high performance 100% battery-powered
motorbikes. With this investment in Energica, Ideanomics expands
its global footprint in the electric vehicle (EV) industry, and
complements Treeletrik's business in the ASEAN market. This
investment marks continued investment in European-based OEM.
(PRNewsfoto/Ideanomics)
"Energica has combined zero emissions EV technology with
high-performance engineering synonymous
with Italy's Motor Valley to create a range of
exceptional products for the motorcycle market. It also has
proprietary EV battery and DC fast-charging systems that have
applications and synergies with Ideanomics Mobility. We are very
impressed with Livia and her team, and we look forward to
supporting them through their next phases of growth," said Alf
Poor, CEO of Ideanomics.
The rapid increase of EV sales that began in 2019 has continued
to gain momentum over the past year. The global high performance
electric motorcycle market is growing at a CAGR of over 35% from
2019-2024. With its state-of-the-art battery technology
development, Energica was chosen by Dorna as a single manufacturer
for the FIM Enel MotoE™ World Cup. With this partnership, Energica
has been able to test new battery solutions and innovations in
extreme conditions with the best riders in the world to advance its
high-performance battery technology.
"We are proud to be part of this unified global platform", says
Livia Cevolini, CEO of Energica Motor Company S.p.A. "Ideanomics'
network of innovative companies will help accelerate the growth and
adoption of new EV technologies such Energica.. We look forward to
leveraging Ideanomics to capture market share in the rapidly
growing global electric motorcycle market".
For more information, visit: ideanomics.com and energicamotor.com.
About Energica Motor Company S.p.A.
Energica Motor Company S.p.A. is the world's leading manufacturer
of high performance electric motorcycles and the sole manufacturer
of the FIM Enel MotoE™ World Cup. Energica motorcycles are
currently on sale through the official network of dealers and
importers.
About Ideanomics
Ideanomics is
a global company focused on the convergence of financial services
and industries experiencing technological disruption. Our
Ideanomics Mobility division is a service provider which
facilitates the adoption of electric vehicles by commercial fleet
operators through offering vehicle procurement, finance and
leasing, and energy management solutions under our innovative sales
to financing to charging (S2F2C) business model. Ideanomics Capital
is focused on disruptive fintech solutions for the financial
services industry. Together, Ideanomics Mobility and Ideanomics
Capital provide our global customers and partners with leading
technologies and services designed to improve transparency,
efficiency, and accountability, and our shareholders with the
opportunity to participate in high-potential, growth
industries.
The company is headquartered in New York, NY, with offices
in Beijing, Hangzhou, and Qingdao, and operations in
the U.S., China, Ukraine, and Malaysia.
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.
Investor Relations and Media Contact
Energica Motor Company S.p.A.
Investor Relations
Email: investor@energicamotor.com
Ideanomics,Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Email: ir@ideanomics.com
Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com
SOURCE Ideanomics
Related Links
http://www.ideanomics.com
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