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Italy-based Energica Motor Company SpA, a manufacturer of high-performance electric motorcycles, has announced that its Board of Directors meeting held on 14 October 2024 at 3:00 p.m. resolved to enter into a bankruptcy judicial liquidation pursuant to art. 121 et seq. of the insolvency law.

Officially founded in 2014 as Energica Motor Company Srl, and with a design phase that began in 2009, the company had established itself over 15 years as a benchmark for high-performance electric mobility, demonstrating resilience and innovation.

Few years back the company had tried entering the Indian market as well - https://www.team-bhp.com/forum/super...ing-india.html (Energica electric bikes could be coming to India)

However, the subsequent crisis in the electric market and the decline in sector investments impacted Ideanomics, the American investment firm that held the majority investments in the company and consequently, compromised Energica’s investment capabilities. The company has also faced challenges from the downturn in the automotive market and supply chain, being particularly affected as a small and medium-sized enterprise.

ENERGICA TIMELINE

Energica was born in the Italian Motor Valley, the land of legendary brands. Founded in 2014, CRP Group is an excellence in the world of world motorsport.

2014 launch of the first model, the Ego sportbike followed in 2015 by the Eva hypernaked. First legacy platform (Ego, Eva, EsseEsse9) with the same powertrain, 13.4 kWh battery and 150 km range.

2016 listing on the AIM Italia stock exchange – start of production.

2017 launch of the third model, the retro naked EsseEsse9 – the same technological platform, the legacy, of Ego and Eva.

2018 Dorna chooses Energica as the sole supplier for the first FIM Enel MotoE World Cup championship, the fourth category of the full electric MotoGP world championship. Together with Dorna, Energica forges an electric world championship, building rules and procedures that are still in force today.

2019/2022 4 years MotoE without any technical problems. Energica has been recognized by the financial market, which has allowed it to become self-sufficient and to self-finance, although not at the levels necessary for product industrialization, which is crucial for reaching break-even more quickly. This occurred especially during the significant challenges faced in the first year of competition.

2019 Energica introduces the 21.5 kWh battery with a range of up to 400 km. In 5 years, SME Energica has introduced 2 powertrains on the market (one with a 13.4 kWh battery and one with a 21.5 kWh battery, increasing the range of vehicles by 250 km, lowering the weight of its motorcycles by about 10 kilos).

2021 Launch of the new EMCE engine with industrial engine reshoring. A new technological platform with an EMCE motor with less weight and greater efficiency is therefore born. In these complex years marked by the global pandemic, Energica remains an Italian SME listed on the AIM that continues to invest with its own strengths, also doing reshoring and inserting a new technological platform.

March 2021 Ideanomics – new investor that allowed a technological boost: in 2022 launch of the Green Tourer Experia with new platform (+autonomy, -weight) and launch of the Energica Inside business unit (following the interest of large OEMs in Energica powertrains).

2022 Energica achieves record sales volumes and revenues of 13 million euros thanks to Experia and despite the covid years.

With the EMCE and Experia motor, Energica has launched, in 13 years of history, 4 technological platforms (with 13.4 kWh battery, with 21.5 kWh battery, with 21.5 kWh battery and EMCE motor, Experia platform).

2023, MotoAmerica Super Hooligan Championship with the Eva Ribelle RS with Customer Racing Kit. No electric vehicle had ever challenged traditional vehicles on the track, not even on four wheels and certainly not in a competition regulated by an international federation. She finished fourth in the championship and finished second in the Austin race at the Circuit of the Americas.