U.S. based Tech Investor Buys Majority Stake in Energica
Ideanomics, a New York based, NASDAQ listed private equity investor has followed up its acquisition of around 20% of the shares in Italian electric sports bike manufacturer Energica by increasing its stake to a controlling 70% interest.
Ideanomics is a global company that "specializes in facilitating the adoption of commercial electric vehicles" and that supports "next generation financial services and fintech products on a sales-to-financing-to-charging (S2F2C) basis in high-growth potential markets".
Energica and Ideanomics are proud to announce an agreement to launch a voluntary conditional tender offer for ordinary shares and Warrant issued by Energica. As a result, Energica will be delisted from trading on AIM Italy.
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| The Energica EVA EsseEsse9 series shares the technology and sophistication of both the EGO and the EVA Ribelle, but is 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 touring. |
"IDEX is increasing its commitment to Energica to further support its growth trajectory while maintaining the Italian footprint and expertise. As Ideanomics continues to expand its global mark in the electric vehicle (EV) industry, especially in the high-growth two-wheeler market, Energica's demonstrated technical, battery and industrial expertise will be vital. A plan was announced on September 20th to more than double Energica dealers in the United States by the end of 2021, targeting markets that have demonstrated a propensity for early electric vehicle adoption.
"The goal of this expanded partnership is to strengthen the Italian company's position as a global leader in the world of high-performing electric motorcycles, while maintaining the strong Italian heritage that has always distinguished the company. This will be achieved by putting Ideanomics' global footprint, financial resources and growing EV vehicle and infrastructure capabilities together with Energica's highly demonstrated technical and industrial skills.
"The result is an exciting new chapter for Energica and its team, which will be filled with new resources looking towards continuing and building on their success around the world for this amazing product that was conceived, designed and built in Italy."
Energica's global sales growth in recent years has been dramatic in percentage terms and its involvement as the 'Spec' electric motorcycle provider for the FIM Enel MotoE World Cup - a contract with rights holder Dorna that was recently extended to at least the end of the 2022 season.
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| Shane McMahon, Ideanomics Executive Chairman and Livia Cevolini, Energica CEO |
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 global high-performance electric motorcycle market is expected to grow at a CAGR of over 35% from 2019-2024. The announcement came after the company organized its first "Energica Week". Billed as a "seven-day celebration of our electric future", the e-Fest concluded at the Misano World Circuit Marco Simoncelli, for the final 2021 season race of the FIM Enel MotoE World Cup.