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[Specter]

Seems the reason the site is down is because they did not pay their host / provider bill.
When in bankruptcy, companies typically have a custodian who oversees 'stuff' and any money in and out is very tightly controlled.

Probably the bill came up and they did not bother to pay it because in their eyes, (their being the custodian, whomever that is,) paying the internet bill is NOT critical  to keeping the business going, is not a safety or compliance issue, therefore is something that can be figured out later on.  In other words, it's very low priority.

I can see this.  Well you paid the internet bill but you won't pay me the money they owe for the cell phone service?  You won't pay me for their adobe acrobat subscription, you won't pay me to mow the lawn... the list goes on.  Every penny in and out has to be very tightly controlled because if not, further down the line, it can cause legal problems concerning ALL parties who may be owed money.  ie. you paid them but not me?? Im suing!!   

Even though it's probably a pretty trivial amount, they can NOT pay it, because ... well why them and not ME??  Favoritism???  When people are about to lose money in a settlement of any sorts, they can get very pissy about making sure they get every penny that is owed to them. Legally, they MUST be this way in a corporation setting, otherwise there could be legal charges of the CEO not doing their fiduciary duties.     Ive been down this road as a debtor on a company that went tits up, and trust me, the lawyers look for ANYthing they can to glom a penny here and there.   It's probably a case of, not that they didn't want to pay the bill, or were not able to pay the bill, but were told they are not allowed, to pay the bill.  Rules of incorporation AND bankruptcy force people to act this way to protect their 'product' and it's current value.  It's literally, the law.

Let's hope this next round is a positive one and this shit settles and we all get back to riding our bikes and R and D come back, and Racing comes back, and new models come back, and and and..

Aaron.

[JaimeC]

If it helps, I found this: https://www.energica.lv/

[Phaedrus]

Energica Latvia must still be in business!

[Stonewolf]

Really have my fingers crossed on this one. 4mm Euros is chump change for an operation of this scale, so any hesitation must have more to do with the liabilities than the purchase price. If Energica goes down, it will set e-motos back by at least 5 years, IMO.

What you need to understand is that Energica can't be flipped in six months and isn't a purely virtual offering promising a free money fountain with some buzzwords. Investors have been captured by bullshit and are no longer capable of spotting a scam and the money simply does not exist for real products anymore.

It doesn't cost 4 million to rescue Energica, it'll be closer to 50 to survive (keep the company going to build enough Experias to break even) and 100 to thrive (develop new products). That's still small beans but 100 million for a ten year RoI in a market full of very loud antis is poison.

[Pard]

Really have my fingers crossed on this one. 4mm Euros is chump change for an operation of this scale, so any hesitation must have more to do with the liabilities than the purchase price. If Energica goes down, it will set e-motos back by at least 5 years, IMO.

What you need to understand is that Energica can't be flipped in six months and isn't a purely virtual offering promising a free money fountain with some buzzwords. Investors have been captured by bullshit and are no longer capable of spotting a scam and the money simply does not exist for real products anymore.

It doesn't cost 4 million to rescue Energica, it'll be closer to 50 to survive (keep the company going to build enough Experias to break even) and 100 to thrive (develop new products). That's still small beans but 100 million for a ten year RoI in a market full of very loud antis is poison.

Very good point.  Investors are looking for a path to accelerated sales growth, and a path to profitability (or exit) , and that is a serious challenging case to make considering normal ROI needs. 

Would take an investor with money to burn,  who is  driven by passion for the product more than the ROI.

They do exist.  Many investors buy losing propositions in terms of ROI for intagible returns.

Could still happen.

[Richard230]

I live in the SF Bay Area and all I ever hear about is investors looking to dump their money into AI startups. I have no doubt that investing in electric motorcycles is at the very bottom of their list of things to do.   

[NEW2elec]

Site is back up.
Sort of.

https://www.energicamotor.com/

[ElectricRebel]

Site is back up.
Sort of.

https://www.energicamotor.com/

Well more or less "nice" that they now gave an update from their site on the auction....! Let's hope for the best!

[flynnstig82r]

What you need to understand is that Energica can't be flipped in six months and isn't a purely virtual offering promising a free money fountain with some buzzwords. Investors have been captured by bullshit and are no longer capable of spotting a scam and the money simply does not exist for real products anymore.

It doesn't cost 4 million to rescue Energica, it'll be closer to 50 to survive (keep the company going to build enough Experias to break even) and 100 to thrive (develop new products). That's still small beans but 100 million for a ten year RoI in a market full of very loud antis is poison.

That’s about what I would have expected. So if you figure there might be 100 deep-pocketed Energica owners who are able and willing to pitch in a la Fisker’s owners, and $50mm to at least stabilize the operation, that’s 500 grand each. Deep pockets or no, people are going to need to see momentum and a firm business plan to invest that kind of cash. Now, if the Italian government, existing investors or management, and other interests kick in, it might start to seem a lot more achievable. Idle speculation: I wonder if Jordan Peele would be interested. He loved his SS9 so much, he made it a character in the movie Nope.

[Specter]

Jay Leno has a few as well in his garage, but seriously, to succeed they will have to earn their way, not mooch off celebs.

Also don't forget, you mention the money needed to keep it going over the years but also, there will be money coming in from product as well as they sell their bikes, it's not just investor infusion that will be fueling them.

Moving out of Ca would probably save them a ton of cash as well, that state is the least business friendly one in the nation with taxes and general gimme dat when it comes to business'.  Ca offered incentives to 'go green' business there but when it came time to fund that promise, it's being stalled again and again in their congress.

Earning cash is critical, so is spending less, and spending what you do, wisely.

One thing that has always surprised me is, their lack of advertisement in the USA.  While I can understand it to an extent, they want quality leads, and word of mouth etc, without people knowing about it, it's really hard to sell a product.  Every time I go to the track, there's always a number of people who are like wow, never heard of them before.  That's sad really, especially when you look at what the bike can do.

Aaron

[flynnstig82r]

No startup OEM is cash positive for 15-20 years, so if that’s the criteria for a rescue, then there’s no reason to hope for good news. We might as well just start wondering when Zero will adopt CCS or when Ducati will bring their 21L technology to production.

I know CA is not the easiest place to do business, but South SF is basically 4 people in a garage. Most of the US sales are within driving distance of that office, which simplifies everything from troubleshooting oddball issues to dealer support. I find it hard to imagine that moving somewhere else would make sense, no matter how low the tax rate or how much less byzantine the regulatory framework.

I honestly don’t think Energica needs to make any sweeping changes. Sure, they’re probably not going to turn a profit any time soon, but neither did Tesla from 2004 to 2019. They have a halo brand (even if it’s not yet a household name), they have some of the highest expertise in lightweight, high performance electric power in the world, and they have a strong order book. I know times are lean, but how is that not worth $50-100 million to someone?

Look, I’m not saying I necessarily expect the rescue to happen, I’m just saying that it’s a small investment to protect a pool of expertise that would be very expensive and uncertain to recreate later. If it doesn’t happen, it will be a waste of resources and a shame.

[jotjotde]

Just saw that MV Agusta separated themselves again from KTM with a Russian oligarch‘s family now holding the majority again.
Here‘s an interesting interview with one of the guys, it’s rumored that they poured nearly 100 million Euros into MV.
https://www.motorcycle.com/features/mv-agusta-owner-timur-sardarov-interview.html

Shouldn’t someone from Energica call them an politely ask for a bid? 😅

[Grauteufel]

Or better yet, BMW are rumoured to be sniffing around KTM. If they have KTM kind of cash lying around, maybe they could make a side bet on energica? Anyone got Markus Flasch's phone number?

[Pard]

Wish HD would buy Energica.  Corner the market on cutting edge electric motorcycles worldwide.

100K for a street legal race bagger? Why not expand the elctric line?

https://www.cycleworld.com/motorcycle-reviews/harley-davidson-cvo-road-glide-rr-first-ride/

[Curt]

Wish HD would buy Energica.  Corner the market on cutting edge electric motorcycles worldwide.

HD did buy the beloved Alta and then killed it. That was very sad. But maybe the Energica motorcycles are much closer to their core market than Alta was, and the customer base would be large enough to actually make money.