Finances are excellent for Energica after an unexpectedly large order from a distributor in Taiwan for €836,000 worth of motorcycles. That's just over $1 million US. The order came from Russ Tiger Enterprise Co., Ltd., an importer in Taiwan who has gone all-in on electric motorcycles since joining forces with Energica in April 2020. It is the biggest order Energica has ever received.
"Electric vehicles are the trend because of environment protection," said Russ Tsai, Russ Tiger Enterprise CEO, in a press release. "Besides, the weather and the environment in Taiwan are also suitable for electric bike riders. Our government supports the industry by applying a reduced commodity tax. Its electric bike range with unique Italian style, performance, and being the MotoE supplier are the factors that make us place our trust in Energica bikes."
While the COVID-19 pandemic has hurt many manufacturers and industries, Energica has thrived, despite an early severe outbreak in its home of Italy. It received more orders in January 2020 than during all of 2019, in part thanks to a new long-range 21.5kW battery.
Orders are great but require the ability to deliver them. Energica has excelled here, too, increasing its delivery capacity by 68 percent over just 12 months. Part of this included signing distribution agreements in Asia, including the one with Russ Tiger. Energica is betting big on US sales, too, and is making it easier for dealers to finance their inventory.
Although sales are already booming for Energica and Russ Tiger, the distributor thinks they will only go up from here. "This order is just the beginning," said Russ Tsai. "More will be coming soon." Those are bold claims, but given their success so far, I think their optimism is justified.