Author: Marco Ghezzi | This publication is a collab between Marco Ghezzi, an Italian journalist focused on electric motorcycle news and promoting electric mobility through the eV-Now! Foundation and THE PACK.
In mid-October, Energica, a company specialized in the production of high-performance electric motorcycles, due to the ongoing reduction and subsequent freeze of financial support from its main investor, the American fund Ideanomics, was forced to halt production and file for judicial liquidation.
“A required legal action,” they state at Energica. “With the judicial liquidation filing, the court will assess the company’s financial situation to determine whether it can be restructured or if it must be liquidated to settle debts with creditors. This process could involve the sale of company assets, and depending on the court’s decision, there could be an attempt to save the company through a restructuring plan or proceed with its permanent closure.”
Despite some opinions that have appeared on social, Energica’s assets are still highly valuable and very appealing to potential companies and/or investors. It involves 50 highly specialized employees who have been part of Energica’s journey from the beginning, creating from scratch the most high-performance electric motorcycles on the market. These are people who know the technology inside out, the same who contributed to the international patents achieved over the years, and they could be crucial for a potential recovery. Today Energica has a warehouse at 60% capacity, capable of supporting production for the next two years, with an active customer portfolio, as evidenced by the French order of 200 motorcycles for state fleets. Despite this, for a true recovery, it is necessary to cover the production costs that the company has been unable to sustain in recent months.
The American fund Ideanomics, which had controlled 75% of the company since 2022, was impacted by the electric market crisis and the reduction of investments in the sector, significantly compromising its ability to invest in Energica. As a result, the agreed development plan was halted. However, it is important to note that Ideanomics believed in the Italian company, investing over 100 million dollars, even during the uncertainty brought on by Covid. Thanks to this, Energica was able to launch a new technological platform and introduce the green tourer Experia. Not to mention that Energica’s growth helped establish the “Electric Motor Valley,” as other companies linked to the electric market settled near Energica’s facilities.
In short, the value of the company is still “alive”: technological assets, professionals, and know-how. It’s a very attractive mix for industrial investors, with the hope that it can remain in Italy, despite the country being a challenging environment for doing business.