Ideanomics acquires minority stake in Energica

Ideanomics has acquired 20 per cent of Italian Energica Motor Company S.p.A. for the value of $13.2 million. Energica develops high performance 100 per cent battery-powered motorbikes. With this investment in Energica, Ideanomics expands its global footprint in the electric vehicle (EV) industry, and complements Treeletrik’s business in the ASEAN market. This investment marks continued investment in European-based OEM.

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. The rapid increase of EV sales that began in 2019 has continued to gain momentum over the past year.

The global high performance electric motorcycle market is growing at a CAGR of over 35% from 2019-2024. With its state-of-the-art battery technology development, Energica was chosen by Dorna as a single manufacturer for the FIM Enel MotoE™ World Cup. With this partnership, Energica has been able to test new battery solutions and innovations in extreme conditions with the best riders in the world to advance its high-performance battery technology. Energica Motor Company S.p.A. is the world’s leading manufacturer of high performance electric motorcycles and the sole manufacturer of the FIM Enel MotoE™ World Cup.