Ideanomics' subsidiary Energica to provide electric motorcycles for the upcoming G20 Bali summit

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NEW YORK, Sept. 28, 2022 /PRNewswire/ -- Ideanomics (Nasdaq: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), today announced that its subsidiary Energica will provide 88 EsseEsse9+ motorcycles for the upcoming G20 Summit in Bali, Indonesia. This is Energica's largest single order to date and is valued at nearly $2 million.

"When G20 delegates arrive in Bali, they will be welcomed and escorted by a security detail riding Energica bikes. That means their first experience will be seeing zero-emission, high-performance vehicles in action," says Livia Cevolini, Energica Motor Company CEO. "My hope is that this experience sticks with each delegate throughout the summit and in all discussions around climate change and transportation."

The Indonesian National Police (Poiri) will use the Energica motorcycles to escort all international government delegates attending the summit. Indonesia will become the first country in the Asia-Pacific region to operate an electric motorcycle fleet, demonstrating its climate leadership and progress on its commitment to put 2 million electric vehicles on the road by 2025.

Energica signed an agreement with UTOMOCORP, one of Indonesia's leading vehicle retail and distribution companies. The two companies expect to deliver the bikes to the Indonesian police force in early November.

"UTOMOCORP is proud to be able to provide the most advanced electric motorcycle for the Indonesian government as the vehicle used by the police force. Energica has been tested for quality and technology; it is in line with UTOMOCORP's commitment to bringing quality and leading products with today's developments. This is an initial stage and I hope that in the future we can supply more products, both for general and special needs," says UTOMOCORP CEO, Denny Utomo.

Together, Ideanomics and Energica have introduced the new Experia motorcycle, expanded Energica's global dealership network and production capacity, and launched the Energica Inside business unit to help more industries electrify faster.

"Since acquiring majority ownership of Energica in 2021, our goal has been to help grow their production and distribution capabilities," said Ideanomics Mobility president Robin Mackie. "Today, we are seeing the work we've done together pay off - Energica is the only company capable of meeting such a large order of high-quality, high-performance electric motorcycles."

Ideanomics is solving the complexity of fleet electrification by bringing together high-performance electric vehicles, charging infrastructure and financing solutions under one roof. The company views Energica as a flagship vehicle for the two-wheeler market and is committed to helping the company grow and develop new revenue streams. This includes enhancing Energica's presence in the ASEAN region by establishing Treeletrik as an after-sales support partner and strategic sales partner.

About Ideanomics 
Ideanomics is a global group with a simple mission: accelerating the commercial adoption of electric vehicles. By bringing together vehicles, charging, and financing solutions under one roof, we are the one-stop partner needed to simplify the transition to and operation of any EV fleet. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.  

Safe Harbor Statement 
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected timing for the filing of the Form 10-K, the Company's ability to regain compliance with the Nasdaq requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions that involve known and unknown risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to the failure of the Company to file the Form 10-K on its expected timeline and other risk factors discussed from time to time in the Company's filings with the SEC. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, without limitation, the Company's most recent Form 10-K and Form 10-Q. The Company expressly disclaims any intent or obligation to update these forward-looking statements other than as required by law.

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

Theodore Rolfvondenbaumen, Communications Director
[email protected]

SOURCE Ideanomics