Italian electric motorcycle manufacturer Energica was named as the sole supplier of race bikes for the new FIM Moto-e World Cup in 2017. A series which is set to debut in 2019. Unfortunately, it would seem Energica’s necessary investment into production and development of the race-spec Ego Corsa has got the company’s balance sheets a bit out of balance.
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Oct 1 (Reuters) – Italy’s Energica, which makes electric motorcycles, posted a higher first-half net loss as rising investment offset a jump in revenue, sending its shares sharply lower.
Its first-half net loss widened to 3.9 million euros ($4.5 million) from 3.0 million euros a year earlier mainly due to investment to develop motorcycles for MotoE World Cup, a racing class for electric motorcycles set to debut in 2019.
Energica, which according to its website is the first company of its kind in Italy, said revenue rose to 1.2 million euros from 0.2 million euros.
At 1245 GMT, Energica shares were suspended from trading due to volatility after falling 9.7 percent. ($1 = 0.8618 euros) (Reporting by Silvia Recchimuzzi in Gdynia; editing by Jason Neely)