Energica Secure Financing for Dealer Growth
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Energica Secures Funds for Dealer Growth

Ideanomics, Energica secure third-party financing to accelerate the growth of Energica's U.S. dealer network

Energica has just announced that it has secured the funding needed to accelerate the growth of its US dealer network.

NEW YORKIdeanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), today announces that its subsidiary Energica now has 24 certified dealers in the United States, which accounts for 33% of product sales. To enable this dealer expansion, Ideanomics and Energica secured strategic third-party financing.

“This is a validation of our brand and products,” says Ideanomics Mobility president, Robin Mackie. “In less than a year, Energica has doubled its production, introduced new models with a wider market appeal and secured its first fleet orders. With strategic third-party capital, this growth can continue even faster.”

With a newly expanded manufacturing facility featuring state-of-the-art semi-automated assembly lines, Energica will soon be capable of producing up to 2,000 units per year (and even more soon after) of all four models: the Ego sportbike, the Eva Ribelle e-fighter, the EsseEsse9 retro style bike, and, finally, the new Experia Green Tourer which has just begun production.

The Energica Line-up is Also Expanding for 2023

New Energica Experia adventure tourer.

Motorcycles built at the Soliera facility are sold via international importers or subsidiaries, to individual Energica dealers, or in some cases, directly to customers where no dealer representation is available. The newest Energica dealers in the US are Cross Country Cycles in New Jersey, with two locations, Fulgora Powersports in Orange County, California, Monarch Powersports near Salt Lake City, Utah, and South Sound Cycles in Tacoma, Washington State.

New dealers typically place an initial order of up to four motorcycles as demo units for test rides. Not only does this generate immediate revenue, but this also enables larger, long-term sales volume as dealers and customers experience the power and performance of Energica Motorcycles. In fact, some of the first certified Energica dealers have consistently seen up to 10x times the sales volume since receiving their demo bikes. In the US, Energica has plans to add another 10 certified dealers in 2023 and to expand to additional markets in the western hemisphere.

The combination of a fast-growing dealer network and industry-leading production capacity uniquely positions Energica to meet orders from large fleet operators, such as police fleets. Recently, Energica partnered with UTOMOCORP to supply 88 EsseEsse9+ bikes to the Indonesian National Police, and recently introduced a specialty variant of the Experia designed for police departments.

Year to date, Energica has sold 78% more motorcycles compared to the same time last year. Additionally, Energica already has a strong backlog of orders for its newest product offering – the Experia electric sport-touring bike.

With ongoing support from Ideanomics, Energica is accelerating the disruption of the global two-wheeler market with its high-performance electric motorcycles. The company also provides its technology and expertise to other industries through its Energica Inside business unit. Ideanomics is solving the complexity of fleet electrification, offering fleet operators everything they need to electrify faster, easier and more affordably, all in one place.


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