Ideanomics subsidiary Energica selected by a global OEM to develop a new electric platform for off-road vehicles

Rhea-AI Summary

Ideanomics (NASDAQ: IDEX) announced a collaboration between its subsidiary Energica Motor Company and a major global OEM to develop a new line of electric two-wheel vehicles. Energica Inside, a business unit within Energica, will provide design and engineering services, focusing on a new off-road electric vehicle platform. Key features include the E2110 motor, which delivers 120 kW (161 hp), and the integration of Energica's pouch cells into the existing battery case. This initiative aims to support OEMs in reaching their climate goals and includes ongoing projects such as the development of electric tractors with Solectrac.

Positive

• Collaboration with a major OEM to develop a new electric vehicle platform, enhancing market presence.
• Energica Inside unit is attracting significant interest from large OEMs for various electric vehicle solutions.
• Utilization of advanced technology like the E2110 motor for improved vehicle performance.

Negative

• None.

NEW YORK, March 2, 2023 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of zero-emission vehicles, today announced that its subsidiary Energica Motor Company (Energica), maker of the world's best high-performance electric motorcycle, and a major global original equipment manufacturer (OEM) are collaborating to develop a new line of electric two-wheel vehicles. Energica Inside, a business unit of Energica, is providing design and engineering services.

"Our world needs to become net zero by 2050, which means transportation must become zero emission. I believe that the unique expertise and technology within Energica can help society achieve this goal faster," says Livia Cevolini, CEO of Energica. "That is why we formed the Energica Inside business unit, and we immediately attracted a lot of attention from large OEMs looking to offer EV solutions for urban mobility, agriculture, marine, and aviation."

Energica Inside provided a feasibility study to identify a final configuration for an off-road electric vehicle platform. The company's engineers and designers performed a technical assessment of the OEM's existing platform and battery pack to validate the definitive product battery specification.

• At the heart of the final configuration is Energica's powertrain, which includes the E2110 motor, a liquid-cooled permanent magnet electric motor weighing just 27kg and a maximum power of 120 kW (161 hp) at 13000 rpm.
• Energica Inside. Team discussed potentially developing a new motor design to meet the OEM's needs.
• To increase performance, Energica Inside worked on integrating Energica's pouch cells in the existing battery case.
• The recommended final configuration and integration meets the OEMs existing layout and design specifications, including aesthetics.

"Energica Inside is ready to help OEMs achieve their climate goals and comply with regulations by electrifying their product lines - whether its tractors, watercraft, aircraft, or passenger and urban mobility vehicles," stated Carlo Iacovini, General Manager Energica Inside. "Our solutions are built around Energica's industry-leading, proven EV design, engineering and technology."

Energica Inside already has several projects underway, including a collaboration with U.S. electric tractor manufacturer Solectrac. Energica Inside is helping Solectrac develop its next generation of electric tractors.

With ongoing support from Ideanomics, Energica is accelerating the disruption of the global two-wheeler market with its high-performance electric motorcycles. Ideanomics is solving the complexity of fleet electrification, offering fleet operators everything they need to electrify faster, easier and more affordably, all in one place.

About Ideanomics

Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide solutions needed for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.

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Investor Relations and Media Contact

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Email: ir@ideanomics.com

Theodore Rolfvondenbaumen
Communications Director
Email: trolfvondenbaumen@ideanomics.com

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SOURCE Ideanomics

FAQ

What is the recent collaboration involving Ideanomics (IDEX)?

Ideanomics announced a collaboration with Energica Motor Company to develop a new line of electric two-wheel vehicles with a global OEM.

What technology is Energica bringing to the new electric vehicle platform?

Energica is providing its E2110 motor, a liquid-cooled permanent magnet electric motor with a maximum power of 120 kW (161 hp), for the new electric vehicle platform.

How is Ideanomics supporting electric vehicle adoption?

Ideanomics supports the complexity of fleet electrification by providing solutions to accelerate commercial adoption of electric vehicles.

Which projects is Energica Inside currently working on?

Energica Inside is involved in several projects, including the development of electric tractors in collaboration with U.S. manufacturer Solectrac.