Ideanomics Invests 20% stake in electric motorcycle maker Energica

Ideanomics has bought nearly 11m Euro worth of shares in the Italian brand which Energica will use to accelerate its growth and uptake of EVs

Energica Ego

AMERICAN company Ideanomics has acquired a 20% stake in Italian electric motorcycle maker Energica after the firm bought nearly 11m Euro worth of shares.

The move is hoped to help Energica continue its growth in Europe and further afield, using Ideanomics experience in the adoption of EVs, particularly in the fleet operations sector.

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Electric vehicle sales really took off in 2019, with the total market estimated to grow by more than 35% between 2019 and 2024, with the European electric motorcycle market growing by over 50% in 2020 alone.

Energica is at the forefront of this growth and is now regarded as the leading manufacturer of high-performance electric bikes globally. Indeed, the European demand for electric vehicles is so great, Schmidt Automotive Research now sees western Europe as a bigger market than even China.

Livia Cevolini, CEO of Energica said:

"We are proud to be part of this unified global platform. Ideanomics' network of innovative companies will help accelerate the growth and adoption of new EV technologies such as Energica. We look forward to leveraging Ideanomics to capture market share in the rapidly growing global electric motorcycle market".

Part of Energica’s growth is being linked to the firm’s supply of motorcycles to the FIM MotoE championship. The series acts as a competitive laboratory for the brand, allowing them to test their bikes in the most extreme conditions and with some of the world’s best riders. The findings from the series then trickle down to the road-going offerings of the Energica range.

We saw evidence of this in November last year when Energica launched a new, high-performance range of RS models to accompany its standard road bikes. The RS versions feature a host of upgrades and improvements that come directly from the firm’s learnings on the track.

Alf Poor, CEO of Ideanomics, said:

"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,"

For more information on the Energica range, head to: energicamotor.com

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