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Energica Motor Company boosts the electric sector and lands in the Emirates

March 20, 2020


Abstract : The Modena-based start-up, international leader in high-end electric motorcycles, signed an agreement to enter a market that should grow by 20% this year and increase even more in the next 10 years.

MILAN, Mar. 19 (Class Editori) -- Energica Motor Company, an international leader in the high-performance electric motorcycle sector, boosts its international expansion. Today, it announced the signing of a new commercial agreement in the United Arab Emirates with Wheels of Arabia General Trading Wholesalers LLC in Dubai, which will cover all seven Federation members with Abu Dhabi as capital.

"We consider the Modena-based company a leader in the sector and we strongly believe in the future of this market," explained Martin Krepela, general manager of Wheels of Arabia.

Livia Cevolini, founder and CEO of the Modena-based company that follows in the footsteps of Tesla in a small way, and Giacomo Lerone, the commercial director are signing sales agreements all over the world. Last year, they focused heavily on Europe and Asia.  The effects can be seen by looking at the production.

Last February, Cevolini announced that in the first two months it had reached 100% of the total orders for 2019 for a value of € 2.3 million, with an estimate of the turnover at the end of the year of 6.5 million and a projection for 2022 of a turnover of over 20 million, with an EBITDA margin of 7%, not yet fully operational, considering that Energica is just a little bit bigger than a start-up.

"With the launch of the new MY2020 range, which improves autonomy and power while reducing weight, our bikes meet the needs of the market as demonstrated by the order book which, in less than 8 weeks, reached the figure for the whole of 2019" said Cevolini. "In order to satisfy customer requests and shorten delivery times - currently expected by April 2020 - we are increasing our internal production capacity with robust support from our entire network of suppliers".

Cevolini has recently announced the need to increase the shift due to the relative increase in production volumes. Following the growth of the 2020 order book, the company decided to modify the production area shifts to face the success of the new MY2020 range.

"It was therefore necessary to modify the work shifts, doubling the current ones. With this plan, starting from March 9, and in compliance with the Italian decree of March 8, 2 daily shifts will be added, thus becoming 3 in partial overlap, and allowing Energica a production increase of at least 50%, up to 100% with a ramp-up of about 1 month", concluded Cevolini. (All rights reserved)

(Source:Class Editori)

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Keyword: Energica Motor

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