Energica Motors, an Italian manufacturer of electric motorcycles, announced its commercial success and presented its full range at the Milan Motorcycle Show.
Energica today announced that it has sold 30% more motorcycles in 2022 than in 2021, and with the fourth quarter just beginning, the company could post a year of record sales. Success is likely driven by two main factors; Energica’s dedication to expanding its product offerings and a massive acquisition payment from Ideanomics earlier this year.
In the company’s press release, Energica CEO Livia Cevolini commented, “Our growing presence at this event reflects Energica’s success. We have grown rapidly in almost every country where we sell our products…” And they have grown, not only in terms of sales but also in the number of offers.
Energica now sells ten unique motorcycle models, four of which were launched this year; the Experia adventure/touring bike, the Ego+ sport bike, the Eva Ribelle naked bike and the EsseEsse9+ touring bike. The Energica Experia is a particular hit as the company now has a growing list of back orders and plans to present the bike to police around the world.
The other motivating factor, the investment from Ideanomics, also undoubtedly helped. In March this year, Ideanomics, a fund focused on promoting the adoption of electric vehicles, bought the company outright and delisted it from the Italian stock exchange. “When Ideanomics acquired Energica, our goal was to help the company grow beyond its racing heritage,” says Robin MackyPresident of Ideanomics Mobility.
Mr. Mackie argues that the acquisition of Ideanomics was more than just a cash injection; “Ideanomics has enabled Energica to double production capacity, introduce new models with greater market appeal, and secure large fleet orders.”
Looking ahead, Energica hopes to continue to expand its motorcycle offering and sell its latest engine technology to other manufacturers. “The E2110 engine, which powers the [Energica] Experia, has applications in the agricultural, maritime and aeronautical sectors”, explains the press release.
What remains unclear is how Energica will be able to operate when larger motorcycle manufacturers start entering the electric motorcycle market, such as Honda, Ducati or Yamaha. But with its growing catalog and production capacity, Energica could be ahead of traditional manufacturers and able to capitalize more effectively on the ever-growing demand for electric motorcycles.
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