According to Minister Cingolani, too rapid a transition to electricity puts the future of electricity at risk MotorValley Emilian. Electric yes, in short, provided that it is "gradual and not ideological". Agree? "Absolutely not. Let the minister come and take a tour of our parts. And he will see that we are already able to do everything today ”, she replies proudly Livia Cevolini, a thoroughbred Emilian, since birth used to touring the racing paddocks together with her father Roberto, supplier of the Formula 1 teams.
She is the Corse lady, that is the CEO of Energica Motor Company, the award-winning company from Modena that churns out super sports electric motorcycles that participate in the MotoE world championship, the competition reserved for electric cars baked by the Soliera plant, soon doubled to make room for reservations, which grow faster than the company's ability to meet market demands for the three cult models: Ego, Eva Rebel and EsseEsse9, top speed, the first two, 240 kilometers per hour, acceleration from 0 to 100 per hour in 2 seconds and 6. A motorcycle that, in the city, boasts a range of 420 kilometers thanks to the technological innovation developed at home by the technicians of Crp, the family business: only Tesla can boast such a technological supremacy.
Today this little jewel in the Po valley sells a ticket to the USA. In fact, the company's board of directors approved the new one on Monday business plan 2022/2024, respecting one of the conditions of the agreement signed with the American Ideanomics. The project now envisages the launch of a takeover bid on the Emilian company listed on the EGM by Ideanomics, a reality listed on the Nasdaq that deals with eco-sustainable investments. The 30% will be Italian shareholders who will maintain control of management and strategies. The objective of this enlarged partnership is to strengthen the position of the Modena-based company as a global leader in the world of high-performance electric motorcycles, maintaining the Made in Italy and therefore the Italian imprint that has always distinguished the company.
The project now provides the launch of a takeover bid on the Emilian company listed on the EGM by a vehicle controlled 70% by the US group, a reality listed on the Nasdaq that deals with eco-sustainable investments, and 30% by the Italian shareholders who will retain control of management and strategies. With an ambitious plan: to expand the business from the production of high-performance motorcycles to other segments of the electric mobility, from scooters (50-70 cc of power) to scooters to be developed in symbiosis with the Chinese partners of Ideanomics itself.
In the meantime, the company announces that they are expected for 2022 revenues for 19,024 million, a EBITDA negative for Euro 3.631 thousand, intercompany loans for Euro 7.500 million, expenses for tangible investments for Euro 7,239 million and intangible investments for Euro 600 thousand. The objective of a positive EBITDA is therefore moved to 2023, "with a slight delay compared to what was communicated in 2020".
This also explains the agreement with the US partner who, he explains, “we sought to give stability to the company. I am convinced that the important thing for a company is to grow”. Better to have 30 percent of a healthy company than to hold tight control. “When you work with your own means, the result of our work, you have to be very careful. Every day there is a way to make mistakes and often they are wrong. But the important thing is to avoid hitting the wall”.
And so Energica thus changes its skin and, among other things, by renouncing the listing in Italy, which is incompatible with the group's investment plans. A sacrifice more for the price list, which loses an undoubtedly appealing serial number, than for the company. "The quotation - comments Livia - hasn't given us much in terms of visibility". Unlike the orders arriving from the beginning of 2020 to the Modena offices from halfway around the world. From Taiwan, but not only. We have made the leap in quality not only with the island, but thanks to an industrial and commercial plan aimed at the growth of the company which today has more than 90 points of sale, including dealers and importers, all over the world.
In this context, it is difficult to respect the forecasts. “2021 for Energica was a complex year but not without challenges and further technological updates – reads the press release from the board of directors – The flow of global procurement and shipments has had a major brake in the entire automotive sector and also in our segment. The global pandemic has caused further strong slowdowns this year as well, but it has also influenced consumption patterns in favor of our market".
Yes, the prospects for sustainable mobility are almost unlimited, starting from the urban environment where Energica is ready to develop its talents and know-how "because on motorcycles - underlines Livia - space is limited and you have to know how to fit everything in a few centimetres".
But there is no shortage of trust. “Hopefully we can keep ours competitive advantage acquired in 10 years of experience in the high-performance electric motorcycle sector. The goals we are setting ourselves are certainly challenging and we hope that 2022 will be the year of recovery for the whole world".
It took courage, in 2009, to take the electric road, despite being able to count on the skills of the house, developed in 45 years of activity alongside the Formula 1 "circus" and strengthened by the patents linked to Windform, the material invented by Franco Cevolini, Livia's brother. More or less in the same years Robert J Scaringe, the founder of Rivian, decided that it was no longer the case to create a new combustion sports car, because the future would belong to the electric. The same reasoning was applied by the engineer Livia, fresh out of the Polytechnic of Parma. But the difficulties, especially in bad years for our economy, were far greater, despite the introduction to the former Aim, the stock market for small companies which is certainly not the Nasdaq.
However, in the end, the leap was successful: the Motor Valley can also thrive in electricity. But it takes courage. And some government attention wouldn't hurt.
