International Dealer News 163 Oc/Nov 2021 IDN163 Oct/Nov 2021 | Page 33

THE BRADLEY REPORT

THE BRADLEY REPORT

Tech investor buys majority stake in Energica

Ideanomics , a New York based , NASDAQ listed private equity investor has followed up its acquisition of around 20 % of the shares in Italian electric sports bike manufacturer Energica by increasing its stake to a controlling 70 % interest . Ideanomics is a global company that " specialises in facilitating the adoption of commercial electric vehicles " and that supports " next generation financial services and fintech products on a sales-to-financing-to-charging ( S2F2C ) basis in high-growth potential markets ". Energica and Ideanomics are proud to announce an agreement to launch a voluntary conditional tender offer for ordinary shares and Warrant issued by
Energica . As a result , Energica will be delisted from trading on AIM Italy . " IDEX is increasing its commitment to Energica to further support its growth trajectory while maintaining the Italian footprint and expertise . As Ideanomics continues to expand its global mark in the electric vehicle ( EV ) industry , especially in the high-growth twowheeler market , Energica ' s demonstrated technical , battery and industrial expertise will be vital . A plan was announced on September 20th to more than double Energica dealers in the United States by the end of 2021 , targeting markets that have demonstrated a propensity for early electric vehicle adoption . " The goal of this expanded partnership
Shane McMahon , Ideanomics Executive Chairman and Livia Cevolini , Energica CEO
The Energica EVA EsseEsse9 series shares the technology and sophistication of both the EGO and the EVA Ribelle , but is more suitable for casual riding without the demanding hyper-performance of the other two models . The EVA EsseEsse ' s classic bench seat and relaxed riding position make it the ideal bike for two-up riding and the preferred choice for long-distance electric touring .

Piaggio Vs Peugeot is to strengthen the Italian company ' s position as a global leader in the world of high-performing electric motorcycles , while maintaining the strong Italian heritage that has always distinguished the company . This will be achieved by putting Ideanomics ' global footprint , financial resources and growing EV vehicle and infrastructure capabilities together with Energica ' s highly demonstrated technical and industrial skills . " The result is an exciting new chapter for Energica and its team , which will be filled with new resources looking towards continuing and building on their success around the world for this amazing product that was conceived , designed and built in Italy ." Energica ' s global sales growth in recent years has been dramatic in percentage terms and its involvement as the ' Spec ' electric motorcycle provider for the FIM Enel MotoE World Cup - a contract with rights holder Dorna that was recently extended to at least the end of the 2022 season . With its investments in Energica , Ideanomics continues to expand its global footprint in the electric vehicle ( EV ) industry , especially in the highgrowth two-wheeler market , complementing Ideanomics ' Treeletrik business , headquartered in Malaysia and serving the ASEAN market . The global high-performance electric motorcycle market is expected to grow at a CAGR of over 35 % from 2019- 2024 . The announcement came after the company organised its first " Energica Week ". Billed as a " sevenday celebration of our electric future ", the e-Fest concluded at the Misano World Circuit Marco Simoncelli , for the final 2021 season race of the FIM Enel MotoE World Cup .

Piaggio has won the first round in a legal dispute with Mahindra Two Wheelers owned Peugeot Motorcycles . The Paris and Milan courts have found in Piaggio ' s favour in a European patent infringement case . In a parallel to Piaggio ' s successful attempts in the past to have the unique nature of the Vespa design IP protected , this action against Peugeot concerns alleged infringement of its MP3 Scooter design rights . Specifically , the courts have upheld Piaggio ' s claim that the Peugeot Metropolis
counterfeited a European patent relating to the technology of the Piaggio MP3 three-wheeled scooter - the control of the system that allows a three-wheeled vehicle to lean sideways like a traditional motorcycle . In France , Peugeot has been ordered to pay compensation for damages quantified at € 1,500,000 , plus further fines for violation and legal costs and banned from the production , promotion , marketing , import , export , use and / or possession of any three-wheeled scooter that uses the control system
patented by the Piaggio Group on French territory ( including the Peugeot Metropolis ), under penalty of a fine for each vehicle said to be subject to counterfeiting . The Court of Milan prohibited Peugeot Motorcycles from importing , exporting , marketing and advertising ( also via the internet ) the Peugeot Metropolis in Italy , establishing a penalty of € 6,000 for each vehicle sold . Peugeot Motorcycles must withdraw all counterfeit vehicles from the market in Italy within 90 days , under penalty of an additional
Piaggio has won patent protection actions for the control system of its sideways leaning tech on the MP3 against Peugeot ' s use of a claimed counterfeit system on its Metropolis .
€ 10,000 for each day of delay in carrying out the order .
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