NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDE
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Posted On: 09/15/2021 3:55:56 PM
NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDEX) Announces Offer to Increase Ownership in Italian Electric Motorcycle Maker
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 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 in 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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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 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 in 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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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