Ideanomics subsidiary Energica strengthens its position in the ASEAN region with entry into high-value Japanese, Australian markets
PR99169
NEW YORK, Dec. 12, 2022 /PRNewswire=KYODO JBN/ --
Ideanomics (
) (NASDAQ: IDEX), a global company focused on accelerating the commercial
adoption of electric vehicles (EV), today announces that its subsidiary
Energica has started selling its high-performance electric motorcycles in Japan
and Australia. The first batch of motorbikes will arrive in both countries in
Q1 2023.
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"Japan is a key market for us. Energica's presence in Japan was sealed in
August at the eight-hour Suzuka Circuit where our bikes were acclaimed for
their performance during the numerous test laps at this prestigious and
world-renowned endurance race," says Livia Cevolini, Energica Motor Company
CEO. "Our partnership with Estar & Co., Ltd. in January 2020 has also improved
our efforts in developing our Asia-Pacific network."
Japan is a priority market for Energica, where nearly 10.3 million two-wheel
vehicles are registered and more than 83,000 motorcycles over 250cc, Energica's
target market, were sold in 2021. Demand for EVs in Japan is growing fast,
driven by regulations restricting vehicle emissions and a rapidly growing EV
charging network. However, established OEMs have slowly introduced
high-performance electric motorcycles in the 250-cc category. Energica will
move fast to fill this gap and become the high-performance electric motorcycle
of choice for Japan's motorcycle enthusiasts.
In 2020, Energica established a strategic partnership with Estar & Co., Ltd. to
import motorcycles into Japan. Estar & Co., Ltd. has opened a mono-brand
showroom in Kobe, on the man-made island of Rokko Island, where riders can
come and test drive any Energica's Eva Ribelle (
), Ego (
) and EsseEsse9+ (
). They have also developed a distribution network throughout the country.
In Australia, Australian Electric Motor Co. has partnered with Energica to
offer a premium selection of electric motorcycles in Australia and New Zealand.
Last year, motorcycle sales in these two countries hit a 15-year high with more
than 100,000 new units sold, which makes these markets lucrative for further EV
expansion.
"Ideanomics has committed to extending Energica's footprint across the globe,"
says Robin Mackie, Ideanomics Mobility CEO. "This new market entry into Japan
and Australia will contribute to what we anticipate a strong fourth quarter and
long-term consistent revenue growth."
Energica has a proven track record of supplying motorcycles to customers across
the ASEAN region. Recently, the company partnered with UTOMOCORP to deliver 88
EsseEsse9+ bikes to the Indonesian National Police. Additionally, Ideanomics
subsidiary Treeletrik is providing after-sales support to Energica for the
ASEAN region and has begun collaborating with Energica on joint sales and
marketing strategies.
In Europe and Asia Pacific, Energica has added 12 new sales points since the
beginning of the fourth quarter totaling 130 Energica dealers and importers
worldwide. Year to date, Energica has sold 78% more motorcycles compared to the
same time last year. Additionally, Energica already has a substantial backlog
of orders for its newest product offering – the Green Tourer Experia (
).
With ongoing support from Ideanomics, Energica is accelerating the disruption
of the global two-wheeler market with its high-performance electric
motorcycles. The company also provides technology and expertise to other
industries through its Energica Inside business unit. Ideanomics is solving the
complexity of fleet electrification, offering fleet operators everything they
need to electrify faster, easier and more affordably, all in one place.
About Ideanomics
Ideanomics is a global group with a simple mission: accelerating the commercial
adoption of electric vehicles. By bringing together vehicles, charging and
financing solutions under one roof, we are the one stop partner needed to
simplify the transition to and operation of any EV fleet. To keep up with
Ideanomics, please follow the company on social @ideanomicshq or visit
).
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Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com
Theodore Rolfvondenbaumen, Communications Director
Trolfvondenbaumen@ideanomics.com
Source - Ideanomics
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