Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, is in the process of increasing its ownership stake from 20% to approximately 70% in Energica Motor Company S.p.A., a leading manufacturer and distributor of high performance 100% battery-powered electric motorcycles. Energica today announced expansion of its network to 20 dealers in the U.S. According to the update, Energica has 14 active dealers and has recently inked contracts with six more in Colorado, Hawaii, New Mexico, New York, Ohio, and Washington. This most recent expansion progresses the company’s efforts to bring more U.S. dealers into the pipeline after recently adding two locations in Wisconsin. “The demand for Energica bikes has been so high that dealers are currently taking pre-orders and virtually every bike that enters the U.S. is spoken for,” said Stefano Benatti, U.S. CEO of Energica. “Our two most recent dealer additions are our first to represent Energica in the very important mid-West market — Tytlers Cycle and Moto Union — both located in Wisconsin. Over 2.7 million riders are in the mid-West region, of which 308,000 are in Wisconsin. Interestingly, Wisconsians are especially devoted to riding as they have the highest number of riders per capita in the mid-West and are much more likely to ride than either New York or California residents according to the Motorcycle Industry Council. By expanding our dealer network using very rigorous selection criteria, we are exceeding our growth goals and are excited to continue that trajectory in 2022 and beyond.”
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About Ideanomics Inc.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under an innovative sales-to-financing-to-charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and offer shareholders the opportunity to participate in high-potential growth industries. For more information, visit www.Ideanomics.com.
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