Energica set for expansion after buyout by US firm Ideanomics

Italian EV motorcycle manufacturer Energica has announced it has finalised a takeover from US electric vehicle company Ideanomics as part of its plan to expand globally.

One of the most prominent electric motorcycle start-ups to emerge over the last few years, Energica has focused on the premium and sporting end of the market with its initial models, the Energica Ego sportsbike and the Energica Eva naked.

With each model currently in their second generation development having showcased a significant step forward in terms of power, battery life and recharging, Energica has teamed up with New York-based Ideanomics to provide the financial support to expand it footprint.

While the EV motorcycle market share remains small it is growing and benefiting from ongoing technology advancements.

Energica CEO Livia Cevolini says the involvement of Ideanomics - which has invested heavily in innovations and infrastructure to grow commercial electric vehicles use in the US -  puts it in a stronger position to develop its models quicker and stay ahead of the game as more electric motorcycle models hit the market.

"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 zero-emission Imotorcycle 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." 

Robin Mackie, President of Ideanomics Mobility, added: "Energica is a well-established company that brings much to the table now that it is under the Ideanomics umbrella. 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 organisation, and we are thrilled to have them on board."