This week on EV Rider we’re looking at an innovative EV brand that didn’t make it, despite a family’s history of business success that can trace its roots back more than 45 years.
By now most Energica enthusiasts probably know the Italian-based EV motorcycle manufacturer announced in a news release posted on Oct. 15 it would be going through a bankruptcy liquidation, meaning the brand as we know it is likely finished, barring an unexpected last-minute surprise.
Energica Bankruptcy Announcement
Energica Motor Company SpA, a manufacturer of high-performance electric motorcycles 75% controlled by the American fund Ideanomics Inc., announces that its Board of Directors meeting held on 14 October 2024 at 3:00 p.m. resolved to enter into a bankruptcy judicial liquidation – Source: Energica news release
There’s a lot of conjecture in the Energica enthusiast community that American-based Ideanomics is responsible for Energica’s downfall.
Ideanomics acquired a 70% controlling interest in Energica in 2022. In its 2021 investor presentation Energica reported it had a production capacity of 500 bikes per year.
After Ideanomics acquired a majority stake in Energica, stocktitan.com reported production capacity had been increased to 2,000 bikes per year and sales had surged 78%.
Some fans of the brand claim Ideanomics starved Energica of needed capital. While EV Rider can’t confirm the accuracy of the accusations it is public knowledge that Ideanomics’ stock has crashed, plunging from $618 a share in 2021 to 10 cents at the time this post was originally written.
Whatever the reason for Energica’s downfall, it’s a sad moment in the relatively brief history of EV motorcycling.
Energica was the only brand-to-date to successfully manufacture motorcycles in any meaningful volume with both Level 2 AC and DC fast-charging, which made the bikes arguably more versatile than its two prime competitors: LiveWire and Zero Motorcycles, which are both American-based.
I’ve ridden three different Energicas over the years, including the current generation Eva Ribelle and Experia.
The Evas were top heavy bikes that didn’t do a particularly good job of hiding their weight compared to gas bikes of similar weights I’ve ridden.
However, the Experia, which was Energica’s newest design, is a wonderfully balanced bike and was – in my opinion – the best EV touring option available at the time in the EV space.
While Zero’s SR/S and DSR/X are lighter, their lack of DC-charging slows them down when it comes time to refuel after eating up the interstate miles. This story was written before the expected introduction of Zero’s 2025 model lineup
Energica wasn’t some fly-by-night startup. It had a track record, including a rich racing history in MotoE and MotoAmerica.
It was a family business which traces its roots back to CRP, which has been in business over 45 years, while the EV business had passed the decade mark.
Here in Florida, Energica owners Rick Flashman and his wife Sabrina have had many touring adventures on their Evas and Experias, including a nationwide ride from California back home to Florida.
Over in New Zealand, popular YouTube Energica-owner Sam Baker has more than 12,000 followers as he and his wife document their Energica adventures.
For Energica owners looking for more information, here are some additional resources:
• Energica Owners Association (owners only)
• Energica website (Editor’s note: Due to bankruptcy proceedings it is unknown how long this site will remain active.)