ElectricMotorcycleForum.com
Makes And Models => Energica => Topic started by: dalek on September 22, 2021, 08:42:37 PM
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Hoping that they open a dealership in the Chicago area...
https://www.energicamotor.com/19535-ideanomics-fuel-growth-energica-dealer-network-us/
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The linked page does not really clarify if the intent is for existing dealers to open new store fronts or have new dealerships. I seem to recall reading the dealer in New York by the hudson river has been granted the territory of New England states. No idea what the actual truth or time frame is pertaining to that. NE can mean north east if you are in Ny or Pa but If you are in a New England state NE has a different meaning.
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Filipacchi in Manhattan is now also an Energica dealership. They dropped Ural a little while ago; Energica is a better fit for their existing market.
https://www.filipacchi.com/
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Hoping that they open a dealership in the Chicago area...
https://www.energicamotor.com/19535-ideanomics-fuel-growth-energica-dealer-network-us/ (https://www.energicamotor.com/19535-ideanomics-fuel-growth-energica-dealer-network-us/)
That sure is good news. That means they are making twice the number of bikes.
Does a larger factory go with this deal?
I also hope they have a dealer here in Reno.
-Don- Reno, NV
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Doesn't this read that Energica loses their control of the company?
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Yeah that's what taking over 70% of the company means in my book.
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That's a huge investment in a company to invest an equal amount to the current total valuation in the company into it.
It's like they sold the company outright but the money all goes into the company instead.
-Crissa
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That's a huge investment in a company to invest an equal amount to the current total valuation in the company into it.
It's like they sold the company outright but the money all goes into the company instead.
-Crissa
I just wonder if I promise to buy a new 2022 Energica Ribelle RS, but only here in Reno, will they start a shop here?
If they do, we have a deal! And I know another guy here in Reno who would also be interested if there were a local dealer.
I wonder if Energica / Ideanomics are reading these messages. . .And if it will have any effect on their decision. :)
-Don- Reno, NV
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I'd love to make the same demands, but we lost all our brand dealers in the last decade. There's a few moped shops attached to repair shops, and one fairly racist Harley-compatible dealer, so... Alas.
-Crissa
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I'm very lucky to have an Energica dealer just up the road from me in Gillingham (UK). But not lucky enough to have a spare £25,000 and a level driveway :)
Cas :)
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I'm very lucky to have an Energica dealer just up the road from me in Gillingham (UK). But not lucky enough to have a spare £25,000 and a level driveway :)
Cas :)
Why do you need a level driveway for a bike that has a reverse and slow forward? And with a Bullet Brake, (https://www.electricmotorcycleforum.com/boards/index.php?topic=10463.0) you can park it down hill.
-Don- Reno, NV
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That's a huge investment in a company to invest an equal amount to the current total valuation in the company into it.
It's like they sold the company outright but the money all goes into the company instead.
-Crissa
The question is, who the buyer is... It's not an EV, motorcycle or mechanical/electrical tech player.
And frankly it's rather worrying.
Ideanomics (https://en.wikipedia.org/wiki/Ideanomics) started out as a food-supplement company (Alpha Nutraceuticals), morphed into another one in the space, turned into a Chinese broadband cable provider (China Broadband), then something to do with art galleries, then leasing funding for buses, than buzzword fintech (including "blockchains and AI"), then media investor.
I've left out various shady-sounding reverse mergers, name changes etc. CEO is also shady.
A quick browsing of their PRs in various guises: All meaningless and full of buzzwords.
WTF does any of that have to do with e-motorcycles?
50cc / 125cc -equivalent e-scooters & commuter motorcycles aside, it's going to take several years (5-10 at least, IMO) for e-motorcycles to become mainstream, so any serious player will need to be taking the long view.
A company which changes everything it does every two years or so Ideanomics looks like a bad match.
There's a strong whiff of private-equity funds which specialize in squeezing & killing off troubled tech companies for short-term profit.
IMO this is a disappointing development; one of the encouraging things about Energica was that they had a deep-pocket corporate parent in the automotive sector.
I hope Energica management & ownership know what they're doing...
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If they have the cash, it doesn't really matter what they invested in the past.
-Crissa
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If they have the cash, it doesn't really matter what they invested in the past.
-Crissa
They're now the decision makers (unless they don't have a majority of the voting shares).
It matters very much whether they care about e-motorcycles and/or EVs, and their RoI horizon-- just as much as the money. For startups in general, an investor should have added value far beyond the money. Taking a majority investor unrelated to the field is on the face of it a big red flag.
And the key people at that investor matter just as much... This (https://en.wikipedia.org/wiki/Shane_McMahon) is the guy who will now be the decisionmaker for Energica.
Oh, and both he personally and Ideanomics as a company have been sued at least twice for securities violations, and he's sued others.
Not a proof of guilt, to be sure, but doesn't look good.
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Why do you need a level driveway for a bike that has a reverse and slow forward? And with a Bullet Brake, (https://www.electricmotorcycleforum.com/boards/index.php?topic=10463.0) you can park it down hill.
Not just downhill but up a step, through a gate, and round a 90 degree bend too... a disaster waiting to happen! I can only just manage the Zero in and out of it.
Cas :)
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They're now the decision makers (unless they don't have a majority of the voting shares).
Has the corporate structure of the company changed? Because I missed that line. Merely owning a company's shares doesn't make you the decision maker.
Energica doesn't seem like a company that could be stripped for value, either.
-Crissa
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Has the corporate structure of the company changed? Because I missed that line. Merely owning a company's shares doesn't make you the decision maker.
It does at 51% of the shares, from what I last heard.
-Don- Reno, NV
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It does at 51% of the shares, from what I last heard.
That's not how shares work.
Shares do not automatically change the make-up of the board, or any of the executives.
-Crissa
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That's not how shares work.
Shares do not automatically change the make-up of the board, or any of the executives.
-Crissa
To change the directors, it takes 75%. For most other decisions, 51%.
-Don- Reno, NV
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When I worked for Computer Associates they merged with an equally large software company called Uccel. After the merger, the majority stock holder was NOT Charles Wang but a Swiss business man (I forget his name). Although he owned the majority of shares, he stayed completely out of the running of the company. It was just an investment for him. He knew that he didn't know the first thing about running software companies but Charles managed to make Computer Associates the largest software company in the world at that point in time. Obviously this was before Bill Gates was able to convince the world that mainframes were dead and the future was in PCs.
Funny thing, though... it's been over three decades and the majority of the world's finances still pass through mainframes...
Anyway, I digress. The point being just because someone else may now own the majority of shares in your company doesn't necessarily mean things will change.
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The power to change the board is not necessarily the same as actually doing so.
The new owner of my spouse's company is very involved. But he acts more like a weird side cheerleader, vetting projects and trying to motivate with terrible speeches. But the operation of the company, the execs, did not change. Well, until one died recently.
There are lots of ways to own a company, and shares is a way to do it in a hands off mode.
-Crissa
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Ideanomics has apparently bought over $1B in companies related to energy, EV, EV charging, induction charging, and EV racing; electric scooters, electric tractors, delivery vans, etc. I wonder where that kind of money comes from.
The CEO, former WWE wrestler Shane McMahon claims to be an avid rider as shown in this interview of him regarding the acquisition of Energica (or according to the closed captions, Energy Cup ;D).
https://cheddar.com/media/ideanomics-on-going-after-racing-tech-with-electric-motorcycle-maker-energica
His personality in the interview is way, way different than the showmanship when he was in the ring with his pants down making people literally kiss his ass.
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That's not how shares work.
Shares do not automatically change the make-up of the board, or any of the executives.
-Crissa
To change the directors, it takes 75%. For most other decisions, 51%.
-Don- Reno, NV
That depends on the laws where the company is incorporated, as well as the articles of incorporation.
Last I knew (which is why I qualified by post), Energica although public didn't have voting vs. non-voting shares, but all shares were voting.
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Ideanomics...
...The CEO, former WWE wrestler Shane McMahon claims to be an avid rider as shown in this interview of him regarding the acquisition of Energica (or according to the closed captions, Energy Cup ;D).
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His personality in the interview is way, way different than the showmanship when he was in the ring with his pants down...
:o *slow clap*
The money's got to come from somewhere. In retrospect we could only have hoped this kind of investment had happened to Alta Motors instead of the H-D debacle.
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CEO being a pro wrestler, what can possibly go wrong?
Is there a single successful company in Ideanomics' portfolio?
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Not that I could find, in the sense of actually developing & providing a useful service or making a useful product.
It's a list of financial engineering schemes, with the company changing it's focus and mission statement every 2 years on average, always incorporating the currently fashionable buzzwords.
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Is there even one new Energica dealer in the USA yet? Or anywhere else?
-Don- Reno, NV
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Is there even one new Energica dealer in the USA yet? Or anywhere else?
Yes, there are defnitely more in the UK this year. There are now 7 listed:
https://www.energicamotor.com/en/find-dealer/
It was only 2 or 3 last year. 7 isn't exactly a huge network, but then again it's a tiny company.
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I got a call from dear friend Phil Waters at Cleveland Moto this week letting me know he finally received his first dealer bike. So put Ohio on the map; it's official!
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but then again it's a tiny company.
With the rather obvious high sales of Energicas lately, I would think the company wouldn't be tiny for long.
-Don- Reno, NV
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Their website only lists Hudson Valley Motorsports in New York... but Filipacchi in Manhattan has been selling them for over a year now. Not sure why Energica hasn't updated their website.