Ideanomics (NASDAQ: IDEX) announced June 14 that it had boosted its stake in California-based zero-emission electric tractors manufacturer and distributor Solectrac Inc. to 100% ownership. According to a recent article, not only did this move highlight applications of electric vehicle (“EV”) technology in the agricultural industry, “but also showcased Ideanomics’ drive to sustain next-generation solutions for the world’s energy consumption and living standard equity difficulties.” Solectrac has limited competition in the electric tractor market in North America, granting it a significant head start within the industry. Its premium electric tractor lineup is fully scalable and market-ready to generate revenue in the United States with proven demand. “The announcement follows on the heels of Ideanomics’ acquisition of US Hybrid, a manufacturer of electric powertrain parts and fuel cell engines for heavy-duty municipal vehicles, commercial trucks, buses, and specialty cars.”
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About Ideanomics Inc.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under an innovative sales to financing to charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and shareholders with the opportunity to participate in high-potential growth industries. For more information, visit www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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