Electric motorcycle pioneer Energica, which was founded in 2014, has announced that it is going into liquidation. Despite a prominent position in the electric motorcycle market, and acting as sole supplier to the MotoE race series for four seasons, the Italian company was unable to survive, citing increased costs and faltering supply lines. Energica pioneered the electric sports bike market, offering big batteries and fast charging, and the Experia adventure tourer was added to the range in 2022.

A press released from Energica stated: “Despite the efforts from the management in actively and extensively pursuing a search of new investors – always with the aim of preserving a going concern in the best interests of creditors – it has become clear in the last few hours that these options are no more viable, leaving the company with no other choice than resolving the opening of a bankruptcy judicial liquidation.”

Energica is 75% owned by American investment concern Ideanomics, and sections of the Italian media have pointed to the parent company’s own problems – tellingly, Ideanomics has not commented on Energica’s announcement. However it has been funded, Energica’s sad end highlights the challenges of being a relatively small company pioneering a new market.

Paul Morgan CBE, Government Relations Executive at the BMF said, “It’s sad to see a key player in the premium global electric motorcycle market go under. But Energica’s fate provides a clear warning of the continuing volatile and challenging nature of electric vehicle development; and emphasises why the UK Government needs to adopt a technology-neutral approach to decarbonisation and embrace a variety of current and developing emissions reducing technologies, including e-fuels and hydrogen. Putting all your eggs in one basket, i.e. battery-electric, is clearly not a sensible or sustainable approach to achieve Net Zero.”

Written by Peter Henshaw

Top image courtesy of Energica