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Ideanomics [NASDAQ: IDEX] Decides to Increase Stake in Energica

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Ideanomics, Inc. [NASDAQ: IDEX] disclosed that it has decided to ink an agreement with Energica Company. As per the agreement, the firm has decided to introduce a voluntary conditional tender offer in concert with the Founders of Energica for shares of Energica Motor Company S.p.A. IN accordance with the agreement, Ideanomics has decided to increase its investment in Energica to nearly 70%.

As per the agreement, the existing owners of Energica will continue to hold 29% of the stake in the firm. Energica motorcycles are the ultimate expression of Italian exclusivity, performance, and design as it was created in the center of the Italian Motor Valley in historic Modena.

Energica owners experience the kind of delights induced by the highest peak and continuous performance of any homologated electric motorcycle available for road use with advanced race-derived technology.

Furthermore, the Energica lineup of high-performance electric motorcycles includes Energica EVA Ribelle and EVA Ribelle RS, Energica EVA EsseEsse9, EVA EsseEsse9+, and EVA EsseEsse9+ RS, and Energica EGO, EGO+ and EGO+ RS.

Additionally, Energica has almost doubled its sales in 2020 and the first half of 2021 has been robust with the firm receiving its largest order to date. This performance is encouraging a swift expansion in the European market as well as in Asia, the Middle East, and Africa (AMEA).

It has been disclosed that IDEX continues to grow its global footprint in the electric vehicle (EV) industry, especially in the high-growth two-wheeler market with its investments in Energica.

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