Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[NEW2elec]

From the Motorcycle News YouTube Channel:

[Grauteufel]

Dude…too soon. 

[Specter]

He glossed over how ideanomics FUCKED THEM RAW.  The reason they ran out of capital was because of their illegal activities and scam they tried to pull and subsequent cooking their books and getting caught doing so.  ALL of which energica had no part of.  Energica itself was making money but the parent was starving them, probably to pay their lawers to stay out of fucking  prison, where they belong.  So, the company got starved to death.

Today, a handful of dedicated people loyal to the original team, are trying to keep it going in the US, hoping to at least, at a minimum, service the existing customers, while they try to figure out a way to keep the lights on TO keep servicing customers, and IF they can ever start manufacturing again.

my recollecion of matters.

Aaron

[Pard]

Hard to know why Energica private company decided to shop for a buyer and lose control of the company.

Cashing out is always a motivation for a seller.  ideanomics probably thought they could make it work.

No current offer to buy the company from auction would seem to indicate that it is impossible to turn a profit as things stand today in this space. Unless you change the approach and run the company like Zero, I guess.

https://www.prnewswire.com/news-releases/ideanomics-finalizes-energica-motor-company-deal-acquiring-70-percent-ownership-stake-in-pioneering-high-performance-all-electric-motorcycle-company-301511382.html

Shane McMahon, Executive Chairman of Ideanomics:
"Since we first announced our intention to acquire Energica last September, the company has continued to see growth and expansion across the U.S.," said Shane McMahon, executive chairman of Ideanomics. "By furthering our investment in Energica, we are expanding Ideanomics' offerings in the mobility sector at a time when electric two-wheelers are taking over the market in a truly exciting manner. As we've seen with Energica's game-changing growth plan including a growing dealer network in the U.S., there is proven demand for the product which will continue to capture more of market share in the months and years to come." 

The high-performance electric motorcycle market is expected to grow at a CAGR of over 35% during 2020-2024, according to Technavio Research.

Livia Cevolini, CEO of Energica Motor Company S.p.A.:
"Energica and Ideanomics' shared vision of increasing access to zero-emission transportation makes this a smart fit for a majority owner relationship as we continue to expand our physical presence and vehicle offerings in the U.S. and abroad," said Livia Cevolini, CEO of Energica Motor Company S.p.A. "What Energica offers to the market is the racing-quality technology and experience that is expected to come from the Italian Motor Valley paired with the innovation that the market craves when it comes to the wide-spread acceptance and availability of electrification." 

[Grauteufel]

And damn I do still love the look of the ss9 and ribelle

[Stonewolf]

The reason they can't find an investor is it'll take a couple hundred million to get it to break even and the market looks really bad. It took £100 million in early 90s money to recreate Triumph more or less out of whole cloth and that was for a brand that had cachet, that people wanted, and that didn't make bikes with controversial drivetrains that demand changes and sacrifices and without selling bikes at a 50-100% premium on the competition. If you want to buy Energica you have to be willing do actually do what Ideanomics promised, and that's dump cash into the company by the truckload.

Energica may have good fundamentals but they're a long term investment for a low return in a world where every investor is a get rich quick guy and schemes to separate them from their money are everywhere.

[princec]

The appropriate investor in Energica is ... Zero. For the paltry sums involved in buying the IP, Zero could save themselves a vast amount of time and money by simply buying the IP for the Energica powertrain.

Cas

[Pard]

The appropriate investor in Energica is ... Zero. For the paltry sums involved in buying the IP, Zero could save themselves a vast amount of time and money by simply buying the IP for the Energica powertrain.

Cas

No doubt the discussion came up.  Yet, why take on more debt if the return on investment is not obvious.  The original private owners of Energica do not seem to be motivated to buy the company out of auction.  I would guess they were paid more than the current auction price when they sold the 70% to ideanomics.

Why are they not buying it all back now?

Only one reason, the path to return on investment is not clear.

[wadejesu]

I'll forward all the info to Elon Musk and see what he thinks.

[flynnstig82r]

The appropriate investor in Energica is ... Zero. For the paltry sums involved in buying the IP, Zero could save themselves a vast amount of time and money by simply buying the IP for the Energica powertrain.

Cas

Not sure how Zero would benefit, though. I feel like Zero could implement a higher-voltage powertrain with DC fast charging tomorrow if they were willing to break compatibility. The things that they can’t easily copy, like “proper motorcycle” handling and feel… well, let’s just say I can’t see Zero’s leadership bringing in a bunch of Italians and letting them take over chassis design, even if they did buy all the IP.