- Ideanomics acquires 20% stake in Energica Motor Firm, a number one producer of high-performance electrical bikes
- In accordance with Schmidt Automotive Analysis, the marketplace for electrical autos in Western Europe has overtaken China and is the biggest market on this planet.
- The European electrical motorbike market grew by greater than 50% in 2020, mirroring the electrical automobile market
Ideanomics* (NASDAQ: IDEX) (“Ideanomics” or the “Firm”) is happy to announce that it has acquired 20% of the Italian firm Energica Motor Firm SpA (Energica) at a price of $ 13.2 million. He develops excessive efficiency 100% battery bikes. With this funding in Energica, Ideanomics expands its international presence within the electrical car (EV) trade and enhances Treeletrik’s actions within the ASEAN market. This funding marks a continued funding in OEMs based mostly in Europe.
“Energica has mixed zero emission EV know-how with excessive efficiency engineering synonymous with the Italian Motor Valley to create an distinctive product line for the motorbike market. It additionally has proprietary EV batteries and DC quick charging programs which have purposes and synergies with Ideanomics Mobility. We’re very impressed with Livia and her crew, and we stay up for supporting them of their subsequent phases of progress, ”stated Alf Poor, CEO of Ideanomics.
The speedy enhance in EV gross sales that began in 2019 has continued to realize momentum over the previous 12 months. The worldwide excessive efficiency electrical motorbike market is rising at a CAGR of over 35% from 2019 to 2024. By means of the event of its superior battery know-how, Energica has been chosen by Dorna as the only producer for the FIM Enel MotoE World Cup ™. By means of this partnership, Energica has been in a position to take a look at new battery options and improvements beneath excessive situations with the world’s finest pilots to advance its excessive efficiency battery know-how.
“We’re proud to be a part of this unified international platform,” says Livia Cevolini, CEO of Energica Motor Firm SpA. “Ideanomics’ community of modern corporations will assist speed up the expansion and adoption of latest EV applied sciences akin to Energica. We stay up for leveraging Ideanomics to seize market share within the quickly rising international electrical motorbike market. “
About Energica Motor Firm SpA: Energica Motor Firm SpA is the world’s main producer of excessive efficiency electrical bikes and the one producer of the FIM Enel MotoE ™ World Cup. Energica bikes are at the moment on sale by means of the official community of sellers and importers.
About Ideanomics: Ideanomics is a world firm targeted on the convergence of economic providers and technologically disruptive industries. Our Ideanomics Mobility division is a service supplier that facilitates the adoption of electrical autos by business fleet operators by offering car buying, financing and leasing and power administration options as a part of our modern enterprise mannequin of dependent finance gross sales (S2F2C). Ideanomics Capital focuses on disruptive fintech options for the monetary providers trade. Collectively, Ideanomics Mobility and Ideanomics Capital present our clients and international companions with cutting-edge applied sciences and providers designed to enhance transparency, effectivity and accountability, and our shareholders the chance to take part in high-potential progress industries. .
The corporate is headquartered in New York, NY, with workplaces in Beijing, Hangzhou, and Qingdao, and operations in america, China, Ukraine, and Malaysia.
Secure Harbor Declaration: This press launch incorporates sure statements which can embody “forward-looking statements”. All statements aside from statements of historic reality included on this doc are “forward-looking statements”. These forward-looking statements are sometimes recognized by means of forward-looking phrases akin to “believes”, “expects” or comparable expressions, contain recognized and unknown dangers and uncertainties, and embody statements relating to our intention to evolve our enterprise mannequin. enterprise to grow to be a next-generation monetary know-how firm, our enterprise technique and deliberate product choices, our intention to section out our petroleum and shopper electronics buying and selling actions, and potential future monetary outcomes. Though the corporate believes that the expectations mirrored in these forward-looking statements are affordable, they contain assumptions, dangers and uncertainties, and these expectations could show to be incorrect. You shouldn’t place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. The precise outcomes of the Firm may differ materially from these anticipated in these forward-looking statements because of varied dangers and uncertainties, akin to dangers regarding: our skill to proceed to function; our skill to boost extra financing to satisfy our enterprise wants; the transformation of our enterprise mannequin; fluctuations in our working outcomes; pressures on the administration of our folks, monetary programs and different assets as we develop our enterprise; our skill to draw and retain key workers and senior administration; aggressive strain; our worldwide operations; and different dangers and uncertainties disclosed within the sections entitled “Danger Components” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” in our most up-to-date Types 10-Okay and 10-Q filed with the Securities and Change Fee, and comparable disclosures in subsequent reviews filed with the SEC, which can be found on the SEC’s web site at www.sec.gov. All forward-looking statements attributable to the Firm or to individuals performing on its behalf are expressly certified of their entirety by these threat components. Besides as required by securities legal guidelines, the corporate assumes no obligation to replace these forward-looking statements.
Investor relations and media contact:
Energica Motor Firm SpA
Electronic mail: [email protected]
Tony Sklar, Senior Vice President of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Electronic mail: [email protected]
Valerie Christopherson / Lora Wilson
International Outcomes Communication (GRC)
+1949 306 6476
* This press launch is supported by Ideanomics.
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