NEW YORK, Sept. 15, 2021 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX) ("Ideanomics" or the "Company"), today announced it
has entered into an agreement to launch a voluntary conditional
tender offer in concert with the Founders of Energica for shares of
Energica Motor Company S.p.A. (Energica), a leading manufacturer
and distributor of high-performance 100% battery-powered electric
motorcycles, pursuant to which Ideanomics plans to increase its
investment in Energica to approximately 70%. The Energica Founders
shall continue to own 29% of Energica.
Manufactured in the heart of the Italian Motor Valley in
historic Modena, Energica
motorcycles are the ultimate expression of Italian exclusivity,
performance, and design. With state-of-the-art, race-derived
technology, Energica owners experience the kind of thrills evoked
by the highest peak and sustained performance of any homologated
electric motorcycle available for road use. On the track or on the
road, Energica motorcycles embody the evolution of emissions-free
excellence.
Energica nearly doubled their sales in 2020 and the first half
of 2021 has been strong with the firm accepting its largest order
to date. This performance is fueling a swift expansion in the
European market as well as in Asia, the Middle
East and Africa (AMEA).
The Energica lineup of high-performance electric motorcycles
includes:
- Energica EGO, EGO+ and EGO+ RS: The Energica EGO series
offers riders the highest top speed and sustained performance of
any electric motorcycle on the market. Coupled with surprisingly
nimble handling even at lower speeds, the bike sports immense
torque, blistering 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 with an urban mojo, 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 and
sophistication of both the EGO and the EVA Ribelle but is made more
suitable for casual riding without the demanding hyper-performance
of the other two models. The EVA EsseEsse's classic bench seat and
relaxed riding position make it the ideal bike for two-up riding
and the preferred choice for long-distance electric wanderers
around the world.
With its investments in Energica, Ideanomics continues to expand
its global footprint in the electric vehicle (EV) industry,
especially in the high-growth two-wheeler market, complementing
Ideanomics' Treeletrik business, headquartered 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," said Shane McMahon,
Executive Chairman of Ideanomics. "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."
"We are grateful for Energica's continued interest in growing
synergistically alongside other brands within the Ideanomics
Mobility ecosystem," said Alf Poor,
CEO of Ideanomics. "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."
The global high performance electric motorcycle market is
expected to grow 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.
"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," said Livia Cevolini,
CEO of Energica Motor Company S.p.A. "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."
The transaction is subject to regulatory approval, and other
customary closing conditions. Further details of this transaction
are available in the company's 8-k filing.
Advisors
Ideanomics was assisted by Venable LLP and
Greco Vitali e Associati acting as Ideanomics' legal advisors,
while Energica and the founding members were assisted by Nctm.
For more information and news on other Ideanomics investments,
please visit https://ideanomics.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 their official network of dealers and
importers.
About Ideanomics
Ideanomics is a diversified
solutions provider for electric mobility. The company provides
turn-key vehicle, finance and leasing, and energy management
services for commercial fleet operators. Its Ideanomics Mobility
division has a strong 'Made in America' theme, and boasts a market
validated, and revenue producing, deployment of technologies and
vehicles for high-growth commercial fleet segments such as last
mile and local delivery, wireless charging, Hydrogen fuel cells,
and Agritech.
Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116, New York,
NY 10018
ir@ideanomics.com
Jeremy Ertl, Skyya PR for
Ideanomics
jeremy@skyya.com
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SOURCE Ideanomics