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[NEW2elec]

IDEX is now showing .0008 per share.  Looks like it's frozen and the graph is just blank.

Kind of explains why there are no 2024 models listed I guess.

There could be some cheap bikes at auction soon.

[Stonewolf]

I wonder what the news behind it is

EDIT: Looks like the story broke yesterday that they did a big old fraud back in '17-'19 and got slapped by the SEC over it.

[Specter]

or this could be an opportunity to get some Energica stock really cheap.  Maybe if they do start selling off inventory, Lightning can finally get some of their bikes on the road with quality parts.

Aaron

[Fran K]

I spent a while trying to search out stuff.  3 executives did bad things but Shane O Mac was not one of them.  Hard to know if what I found is true, bad guy#1 gets to keep most of his gains and gets some sort of 10 year ban.  SEC doesn't have the funds to properly punish or their hands are sort of tied says one commenter.

[Specter]

But they are getting delisted from the nasdaq so that's an issue too.
if what they did was criminal, they should get jail time for it, the sec doesn't have to do that, doj should handle that. especially if from what I read, many lost several millions to them.

Hope it doesn't fuck over energica too bad, this is the last thing they need is shit bags ruining their rep.

aaron

[flynnstig82r]

I don’t know why Energica got into bed with a company like that, especially when Energica’s growth plans and capital requirements were always pretty modest. You don’t need a scammy finance company to go from 500 bikes / year to a few thousand. As to how the Ideanomics implosion will affect Energica,  I would be surprised and disappointed if they had to shut down because of all this, but stranger things have happened.

It doesn’t seem like the parent company was hands-on or that there were any leadership changes, so Energica’s day-to-day business shouldn’t be affected by a sale. However, it’s hard to say whether Energica will be able to fund their expansion and development under new ownership in the current soft market. Despite their pedigree and achievements, any up and coming manufacturer in an uncertain market segment is highly speculative. It’s also uncertain whether any potential buyer would want to get their grubby hands on the day-to-day business and leadership decisions and potentially screw things up.

[Stonewolf]

If Ideanomics has no money it'd for sure screw Energica given last I checked they were running at a loss (as is very common for what is still really a startup). It might give one of the legacys a chance to snap them up though if they wanted to kickstart their EV transition following the Livewire or Polestar model.

[Specter]

That's what I am hoping, but it's a mutual buyout not a hostile takeover where they say, we own you, fuck everything you were, those customers, so soddy, screw them, you belong to US now, anything in the past, that's their problem.  I honestly can't see Energica doing that, they seem way too honest and have too much integrity and love for their customers, BUT they don't control the purse strings anymore when ideacucks owns the majority of the stock.

I think the company bought them out before all these little games were discovered, so energica had no idea they were this shady.  It'll be interesting to see what happens, and I just hope they don't crash and burn over this.  Time will tell though.  IF they can last another year I think things will turn around, or the world will be burning and it won't matter anymore anyways.

Aaron

[Grauteufel]

I'm hoping that if worst happens, CRP will step back in and help the family out again. If nothing else the Energica brand has enough equity to be worth something to someone.

[Stonewolf]

Energica need to do two things
1) Keep cranking out Experias to fleet customers
2) Secure a supply of solid state cells and scrabble together enough of an R&D budget to launch a solid state pack as soon as they can get that supply flowing

If they can find the funding to do that I think they'll weather the storm and improve the competitivity of their bikes and then they just need to be able to match demand and try to get up to breakeven.

[Specter]

solid state cells?  are those a viable thing yet?  I know supercaps are hitting the market but they are still rather expensive and a bit heavy.  I just bought 30 kw for my trailer.

Aaron

[Richard230]

solid state cells?  are those a viable thing yet?  I know supercaps are hitting the market but they are still rather expensive and a bit heavy.  I just bought 30 kw for my trailer.

Aaron

I have read a month or two ago that at least one Chinese company is currently manufacturing solid, or semi-solid state, cells for use in some Chinese cars. They are potentially such a hot item that I doubt they will make it into a motorcycle any time soon.

[Stonewolf]

Solid state cells are currently in low volume production. The tech is basicly proven, product data sheets exist, and industry has a good idea even of longevity. The main issue with solid state at this point is mass manufacturing and as I understand it the problem is tooling.

They're currently expected to reach volume production in 2027 and current production is focused on getting them out to product design and test so that there's someone down the supply chain to ship them to at that point. The reason I raised it as a key goal for Energica is the moment someone else launches a bike with a solid state pack their bikes will look instantly dated, especially the decade old Ego platform.

[jotjotde]

The issue seems to be settled.
https://cointelegraph.com/news/sec-settles-ideanomics-crypto-fraud?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

It seems that Energica has launched some cost saving moves in the near past, such as asking dealers to pay upfront for spare parts and shifiting their bank account to  a Baltic state...

[Specter]

yah their parent company just got ass raped and it probably is tricking down to everyone.  They are trying to divest from them if they can, and are doing what they can to try to stay alive on their own, which they CAN do if they are careful.

Part of the deal says that the folks in the parent company can not be part of ownership or leadership of any publicly traded co  for 10 years.  So what does that exactly mean for Energica?  Are they back to being on their own, or what?

Man I hope this does not take them under.

Aaron.,