- Ideanomics’s EV market is expected to grow exponentially, driven by growing public awareness/acceptance and the U.S. administration’s support
- The company plans its expansion moves across three strong EV pillars: vehicles, charging, and energy
- IDEX acquisition of California-based Solectrac reflects the company’s approach to an electric tractor revolution
In 2020, the number of global electric vehicles reached the 10 million mark, with battery electric vehicles (“EVs”) being the main force behind the expansion. The governments of many countries provided fiscal incentives that have acted as a catalyst for the new registration of electric cars (https://ibn.fm/zu2U7). Ideanomics (NASDAQ: IDEX), is a global company focused on revenue-based opportunities in the EV and fintech arenas, geared to leverage the boom in the global EV market.
With its three strong pillars of EV (vehicles, charging, and energy) IDEX is shaping the future of energy-driven commercial fleets through its two divisions, Ideanomics Mobility and Ideanomics Capital, focused on cost reduction and environmental sustainability.
The company’s businesses operations committed to sustainability and innovations include:
1. US Hybrid
Powering fleets in the private and public sectors in the US and other countries, US Hybrid specializes in the design and manufacturing of zero emission powertrain components for electric, hybrid, and fuel cell medium and heavy-duty municipality vehicles, commercial trucks, buses, and specialty vehicles throughout the world.
2. WAVE
With revenues crossing $7 million in 2020, Wave powers the largest electric mass transit bus fleet in the U.S, at the Antelope Valley Transportation Authority north of Los Angeles with its wireless inductive charging pads
3. Solectrac
Ideanomic’s acquisition of this California-based facility reflects the company’s visionary approach towards the electric tractor revolution. This is a pioneering move benefitting farmers and crops, as EV solutions are still unheard of in this segment, while also grabbing a growing slice of agricultural market revenue.
For more information, visit the company’s website at 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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