Energica Motor Company signed a new commercial agreement with Latvian importer Rock Distribution, with headquarter in the city of Sigulda, Latvia.
Latvia’s power network distributor and other state institutions have plans to develop more than 2000 public electric vehicle recharge points across Latvia.
Electricity powered motorcycles are a new product for the Latvian market, and we are delighted to have the opportunity to offer the best electric motorcycle in the market. – said Edijs Rudzis, CEO Rock Distribution – At this moment there are more than 141 fast charging stations available for the public, and the infrastructure for electric vehicles is developing rapidly in the whole country. The coverage of charging stations gives the opportunity of everyday use of electric transport.
The project is planned to be implemented using support from the European Union Recovery Fund. EUR 5 million will be allocated towards construction of necessary infrastructure.
According to the company, the project’s goal is establishing 2060 connection points for public recharging services for electric vehicles across Latvia.
We are so glad to introduce Rock Distribution like our importer. This agreement was signed to had the opportunity to approach the Latvian market, through which we expect a great increase of our brand awareness in the region – said Giacomo Leone, Energica Sales ROW Director. We are convinced that the best conditions exist for a significant increase in e-mobility, especially in this area. This agreement strengthens our commercial strategies aimed at increasing the presence of Energica dealers throughout Europe.
Revenue in the Electric Vehicles market is projected to reach €40.02m in 2023 and is expected to show an annual growth rate (CAGR 2023-2027) of 18.57%, resulting in a projected market volume of €79.10m by 2027.
The Electric Vehicles market sales are expected to reach 1,650.00 vehicles in 2027 and the volume weighted average price of the Electric Vehicles market in 2023 is expected to amount to €50.12K.
Source: Energica Motor Company