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

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.

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.

This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involve known and unknown risks and uncertainties, and include the statement regarding the completion of the business combination within a certain period of time, if ever. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to obtain necessary regulatory approvals and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Email: [email protected]

Theodore Rolfvondenbaumen
Communications Director
Email: [email protected]

SOURCE Ideanomics

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