Source: Investor Relations Ideanomics and website Energica Motor Company | The company Ideanomics has hosted an Analyst and Investor Day on Monday, April 11, 2022, at the NASDAQ MarketSite location in New York City following the company’s March announcement that it had finalized the acquisition of Energica Motor Company.
The event, which was themed “EVolving the Road Ahead”, commenced with a ride of the Energica motorcycles by Ideanomics’ Executive Chairman Shane McMahon and President of Mobility Robin Mackie and Energica US CEO, Stefano Benatti, to symbolize the Italian and American companies coming together in a location as iconic as Times Square.
Shane McMahon, Executive Chairman of Ideanomics:
“Since we first announced our intention to acquire Energica last September, the company has continued to see growth and expansion across the U.S.,” said Shane McMahon, executive chairman of Ideanomics. “By furthering our investment in Energica, we are expanding Ideanomics’ offerings in the mobility sector at a time when electric two-wheelers are taking over the market in a truly exciting manner. As we’ve seen with Energica’s game-changing growth plan including a growing dealer network in the U.S., there is proven demand for the product which will continue to capture more of market share in the months and years to come.”
Livia Cevolini, CEO of Energica Motor Company S.p.A.:
“Energica and Ideanomics’ shared vision of increasing access to zero-emission transportation makes this a smart fit for a majority owner relationship as we continue to expand our physical presence and vehicle offerings in the U.S. and abroad,” said Livia Cevolini, CEO of Energica Motor Company S.p.A. “What Energica offers to the market is the racing-quality technology and experience that is expected to come from the Italian Motor Valley paired with the innovation that the market craves when it comes to the wide-spread acceptance and availability of electrification.”
During the investor presentation, Ideanomics CEO Alf Poor discussed how Energica brings technology, economies of scale and strong leadership to the Ideanomics family. Energica CEO, Livia Cevolini, discussed Energica’s key advantages, unique selling propositions and how the company will grow its business with support from Ideanomics. Carlo Iacovini, GM of Energica Inside, touched on the company’s goals for 2022 and formally introduced the market to Energica Inside – a new business unit dedicated to the development and production of powertrains, battery assembly and technology for electric vehicles. Energica Inside is positioning itself as the gateway to the electric transition in multiple industries, bringing Energica’s decade of experience in electric mobility.
- Ideanomics has acquired a 70% ownership stake in Energica
- On March 7, 2022, Ideanomics secured 93.63% of the public float of Energica’s shares.
- As a result of Ideanomics successful tender offer, Energica is now delisted from Borsa Italiana, the Italian Stock Exchange, and is now solely trading as part of Ideanomics (NASDAQ: IDEX) on the NASDAQ.
- Ideanomics paid 3.2 Euros per share in the all-cash transaction.
- With this acquisition, Ideanomics plans to accelerate Energica’s go-to-market model, invest in new products, and enhance its distribution capabilities with a goal of doubling its U.S. dealer network by the end of 2022.
- The addition of more authorized Energica dealers and other retail points in the U.S. will help drive consumer brand awareness and increase market share for the most advanced zero-emission motorcycles on the market.
- As the newest operating company to join Ideanomics, Energica’s proprietary technology will be applied in non-competitive markets. The powertrains and battery management systems have applications for other Ideanomics operating companies including Treeletrik, Solectrac and others.
“Energica is a well-established company that brings much to the table now that it is under the Ideanomics umbrella,” said Robin Mackie, President of Ideanomics Mobility. “Their technologies and solutions will support product development for our other operating companies and our combined supply chain buying power will improve access to components and batteries so we can build more Energica bikes faster. In addition, Energica’s experienced leadership team will be an asset to the entire Ideanomics organization, and we are thrilled to have them on board.”
“At Energica, we are excited to support Ideanomics’ range of electrification solutions in order to create a global power player in the EV space across multiple verticals,” said Livia Cevolini, CEO of Energica. “Our bikes have more power, torque and range than our competitors, and with our competitive price point, we are uniquely positioned to capture a large percentage of 0-emission motorcycle enthusiasts. With our growing sales, exceptional products and new Energica Inside business unit, we will work hand in hand with other Ideanomics operating companies to develop new technologies for powertrain components and modular powertrain systems.”
Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide the completeness of solutions needed for the commercial world to commit to an EV future.
Pictures credit: Ideanomics | Energica Motor Company