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Energica Inside Signs Agreement with Nimbus to Provide Customized Electric Powertrain

By: Ideanomics via GlobeNewswire

January 30, 2024 at 08:00 AM EST

Modena, Italy, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Energica Inside, the business unit of Energica Motor Company (a majority-owned subsidiary of Ideanomics (NASDAQ: IDEX)) dedicated to developing innovative solutions for e-mobility leveraging Energica’s unique technical know-how and IP, has signed an agreement to provide technology to help electrify the historic Nimbus Model C motorcycle.

Nimbus is a motorcycle brand with a rich history, having been produced by Fisker and Nielsen of Copenhagen, Denmark, from 1919 to 1960. Nimbus has successfully achieved near-legendary status in Denmark and around the world due to its iconic design and character. As part of the agreement Energica Inside will support Nimbus’s release of the classic Model C as an electric motorcycle.

Carlo Iacovini, General Manager of Energica Inside, expressed enthusiasm about the collaboration, stating, "Energica Inside is ready to assist Nimbus in achieving their climate goals and electrifying their product. Our solutions leverage Energica's industry-leading EV design, engineering, and technology, providing a customized and proven solution for Nimbus."

Energica Inside's team of engineers and designers conducted a thorough technical assessment of the project to validate the definitive powertrain specification. This collaboration underscores Energica Inside's dedication to positively advancing technology across various sectors, including agriculture, maritime, aviation, racing, and urban mobility.

Carlo Iacovini further emphasized, "Technological innovation is the key to achieving zero emissions in electric mobility, and Energica Inside is at the forefront of driving this change."

The Agreement has been met with excitement at Nimbus Motorcycles, with Ib Mogensen, Chairman of the Board, expressing his satisfaction, "We find it excellent to combine the historic Danish motorcycle design with the superb Italian powertrain technology from Energica."

This collaboration is more than a partnership, it not only pays homage to the heritage of Nimbus motorcycles but also showcases the potential for integrating modern EV technology into classic designs, contributing to a more sustainable and eco-friendly future for the automotive industry.

About Energica Motor Company

Energica Motor Company S.p.A. is the leading manufacturer of high-performance electric motorcycles. With a focus on cutting-edge technology and sustainable mobility solutions, Energica continues to push the boundaries of electric vehicle innovation. For more information, visit www.energicamotor.com.

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 www.ideanomics.com.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements". 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 statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. 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 continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; 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.

Contacts:

Ideanomics, Inc.

Tony Sklar, SVP of Investor Relations

1441 Broadway, Suite 5116, New York, NY 10018

ir@ideanomics.com

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