Great video, as always! A recent interview with Energica's CTO suggests that they ran out of investment money to pay suppliers for parts, so their production line dried up. They have a big order book (including 200 bikes for the French police), but have run out of key parts, so they cannot deliver more bikes at this time. He says the factory basically has 60% capacity currently, meaning they are lacking the cash to get the additional 40% needed to deliver on their current orders. A single buyer with the capital to purchase the additional parts would get them right back into production fulfilling existing orders and moving forward towards eventual profitability.
Thanks. Fingers crossed that the Energica team can somehow attract a last minute angel investor as it navigates liquidation proceedings before its too late.
That definitely stinks, especially when the technology was clearly advancing. Thanks for the cameo on my Zero SR/S regarding touring. 😊 Highway touring is definitely an Achilles Heel of Level 2 only e-moto bikes.
You noticed the cameo! 😃Hope springs eternal that Zero will add DC charging at some point. As for Energica, I'll keep my fingers crossed the core team figures out a way to regroup. There are plenty of examples of bankrupt companies that ended up living to fight another day.
Thanks for the contribution. But it would also be interesting to hear what the Italians have to say. The last word has not yet been spoken. ... we are keeping our fingers crossed for a complete takeover and thus continued service for all drivers. 🤞
As I understand it the press release has been interpreted incorrectly by multiple media. Under Italian law this is not an end stage bankruptcy but rather a precursor which gives time to find a new owner/investor/capital. So let’s hope they can continue on….
@@EVRider Italian law is different in this respect so that is a botched translation at best. Ducati actually went through similar situation in the late 70ies / early 80ties and even was under state control for quite a while. Still they survived. Because the name had enough reputation. The same can be said about Energica.
@@marcbrasse747 Many companies survive what are legally termed bankruptcies. That doesn't make the use of the word by Energica incorrect. If Energica does manage to figure out a way to reorganize and emerge from the legal proceedings that would be wonderful.
Guess what? I actually bought myself a 13.4 kWh Esseesse9 yesterday because second hand examples where just becoming (more or less) affordable before this news came out. Risky? Yes, to a certain extent but, whatever ultimately happens, even in the worst case scenario the plus minus 2000 Energica’s already built will not all of a sudden start to blow up one after the other. The future still is electric.
Good luck! The Esse Esse 9 should be a fun bike. An Energica owners assocation has been formed to share info about parts & such that you might be interested in: facebook.com/groups/461586766937140/?_rdr
Even before watching: Liquidation and bankruptcy are not the same thing! Helping to spread that mistake via this title does not help. Whatever chance Energica still had of selling enough bikes will now evaporate.
@marcbrasse747 Energica used the term "bankruptcy judicial liquidation " in its news release. A link to Energica's official news release is available in the web version of this story: evrider.tv/ev-motorcycle-brand-energica-annouces-bankruptcy/. I wish Energica's team the very best at navigating the proceedings but it would be irrsponsible to my viewers to not quote how Enericga has described its current situation.
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Great video, as always! A recent interview with Energica's CTO suggests that they ran out of investment money to pay suppliers for parts, so their production line dried up. They have a big order book (including 200 bikes for the French police), but have run out of key parts, so they cannot deliver more bikes at this time. He says the factory basically has 60% capacity currently, meaning they are lacking the cash to get the additional 40% needed to deliver on their current orders. A single buyer with the capital to purchase the additional parts would get them right back into production fulfilling existing orders and moving forward towards eventual profitability.
Thanks. Fingers crossed that the Energica team can somehow attract a last minute angel investor as it navigates liquidation proceedings before its too late.
That definitely stinks, especially when the technology was clearly advancing. Thanks for the cameo on my Zero SR/S regarding touring. 😊 Highway touring is definitely an Achilles Heel of Level 2 only e-moto bikes.
You noticed the cameo! 😃Hope springs eternal that Zero will add DC charging at some point. As for Energica, I'll keep my fingers crossed the core team figures out a way to regroup. There are plenty of examples of bankrupt companies that ended up living to fight another day.
Thanks for the contribution. But it would also be interesting to hear what the Italians have to say. The last word has not yet been spoken. ... we are keeping our fingers crossed for a complete takeover and thus continued service for all drivers. 🤞
As I understand it the press release has been interpreted incorrectly by multiple media. Under Italian law this is not an end stage bankruptcy but rather a precursor which gives time to find a new owner/investor/capital. So let’s hope they can continue on….
I can't speak for other media outlets but EV Rider used the exact quote from Energica's news release: "...bankruptcy judicial liquidation.."
@@EVRider Italian law is different in this respect so that is a botched translation at best. Ducati actually went through similar situation in the late 70ies / early 80ties and even was under state control for quite a while. Still they survived. Because the name had enough reputation. The same can be said about Energica.
@@marcbrasse747 Many companies survive what are legally termed bankruptcies. That doesn't make the use of the word by Energica incorrect. If Energica does manage to figure out a way to reorganize and emerge from the legal proceedings that would be wonderful.
Wow that is some sad and shocking news. Hopefully the brand doesn't die off.
Guess what? I actually bought myself a 13.4 kWh Esseesse9 yesterday because second hand examples where just becoming (more or less) affordable before this news came out. Risky? Yes, to a certain extent but, whatever ultimately happens, even in the worst case scenario the plus minus 2000 Energica’s already built will not all of a sudden start to blow up one after the other. The future still is electric.
Good luck! The Esse Esse 9 should be a fun bike. An Energica owners assocation has been formed to share info about parts & such that you might be interested in: facebook.com/groups/461586766937140/?_rdr
Even before watching: Liquidation and bankruptcy are not the same thing! Helping to spread that mistake via this title does not help. Whatever chance Energica still had of selling enough bikes will now evaporate.
@marcbrasse747 Energica used the term "bankruptcy judicial liquidation " in its news release. A link to Energica's official news release is available in the web version of this story: evrider.tv/ev-motorcycle-brand-energica-annouces-bankruptcy/. I wish Energica's team the very best at navigating the proceedings but it would be irrsponsible to my viewers to not quote how Enericga has described its current situation.