Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, has inked an agreement to offer a voluntary conditional tender offer for shares of Energica Motor Company S.p.A.
The agreement has been made with the founders of Energica, a leading manufacturer and distributor of high-performance, 100% battery-powered electric motorcycles. According to the announcement, the bid for investment would increase IDEX’s ownership stake in the company from 20% to approximately 70%; Energica founders would own 29% of the company. Energica sales nearly doubled in 2020, and in the first half of this year, the company received its largest order to date. The company is expanding into the European and Asia, Middle East, and Africa (“AMEA”) markets.
Energica’s line of high-performance electric motorcycles includes the Energica EGO, EGO+, and EGO+ RS; the Energica EVA Ribelle and EVA Ribelle RS; and the Energica EVA EsseEsse9, EVA EsseEsse9+, and EVA EsseEsse9+ RS. IDEX is working to expand its global footprint in the electric vehicle (“EV”) industry, with a focus on the high-growth two-wheeler market.
“The two-wheeler electric market is poised for significant growth, and we couldn’t be more excited about the synergies between Ideanomics and Energica that will allow us to be a prime player in this space,” said Ideanomics executive chair Shane McMahon in the press release. “This vibrant piece we are adding to the mobility business will not only expand our market reach but also add significant weight to the mechanical expertise and technology innovation in the two-wheeler space.”
To view the full press release, visit https://ibn.fm/iilEl
About Ideanomics Inc.
Ideanomics is a diversified solutions provider for electric mobility. The company provides turn-key vehicle, finance and leasing, and energy-management services for commercial fleet operators. Its Ideanomics Mobility division has a strong Made-in-America theme, and boasts a market-validated, and revenue-producing, deployment of technologies and vehicles for high-growth commercial fleet segments such as last-mile and local delivery, wireless charging, hydrogen fuel cells and agritech. For more information about the company, please visit www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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