Ideanomics, Solectrac entire enterprise-main transport of electrical tractors to principal fleet operators

Ideanomics, Solectrac electrical tractors

Ideanomics (Nasdaq: IDEX), an international employer targeted on accelerating the economic adoption of electric vehicles (EV), these days introduced that its subsidiary Solectrac secured extensive new commercial enterprise-to-commercial enterprise contracts to deliver electric powered tractors to clients running big fleets. Solectrac has furnished a blended overall of 17 powerful, 0-emission and quiet e25 tractors to the University of California Agriculture and Natural Resources and a main non-public area plant nursery. 

“Our sustained funding to develop the Solectrac logo means that proper now we’re uniquely located to satisfy the huge orders for electric powered tractors from big fleet operators,” stated Robin Mackie, Ideanomics Mobility president.”This is an important, new income float for us, building on the strong price already coming from the fast-growing Solectrac company network.”

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Capitalising on momentum, Solectrac is pursuing numerous high-fee possibilities to deliver its tractors to main agricultural companies. This large income could be performed at once with clients or participating with Solectrac dealers. Solectrac goals strong point agriculture, parks, municipalities and college marketplace segments for direct income.

The Association of Equipment Manufacturers (AEM), an enterprise institution monitoring retail tractor income, reviews that tractor income with much less than forty PTO hp handed 127,000 gadgets to date this year*. Solectrac gives the e25g withinside the below forty PTO hp category. Electrak electric powered tractors do the entirety equal to a diesel tractor besides higher with 0 pollutants from burning highly-priced diesel gas.

The aggregate of presidential incentives, unstable diesel gas expenses and company commitments to weather moves will boost up the boom of electrical equipment in the off-street market. Ideanomics anticipates an extensive upward thrust in market proportion of electrical tractors in a phase forecasted with the aid of Zion Research Investment and different corporations to exceed $one hundred billion earlier than many years end.

Solectrac is prepared to develop its enterprise-main position. The Solectrac logo will introduce a brand new version in 2023, and Ideanomics has invested in new centres and partnerships to beautify manufacturing, meeting and distribution abilities significantly. Recently, Solectrac brought its SolecSave app, imparting clients overall fee of possession data, environmental statistics, and a manner to locate incentive packages of their locations.

Ideanomics is fixing the complexity of fleet electrification with the aid of bringing collectively high-overall performance electric powered vehicles, charging infrastructure and financing answers below one roof. The Company regards Solectrac’s electric powered tractors as a flagship answer for the fast-developing, high-fee off-street car market.

*Association of apparatus Manufacturers, Ag Tractor and collaborate Report, August 2022

About Ideanomics

Ideanomics is an international institution with an easy mission: accelerating the economic adoption of electrical vehicles. By bringing collectively vehicles, charging, and financing answers below one roof, we’re the one-prevent associate who had to simplify the transition to and operation of any EV fleet. To keep up with Ideanomics, please observe the employer on social @ideanomicshq or go to https://ideanomics.com.

Safe Harbour Statement

This press launch carries positive statements which could encompass “forward-searching statements”. All statements apart from statements of historic truth covered herein are “forward-searching statements.” These forward-searching statements are regularly recognized with the aid of using the usage of forward-searching terminology which includes “believes,” “expects” or comparable expressions, contain regarded and unknown dangers and uncertainties, and encompass statements concerning our aim to transition our commercial enterprise version to come to be a next-technology economic era employer, our commercial enterprise approach and deliberate product offerings, our aim to segment out our oil buying and selling and customer electronics businesses, and cap potential destiny economic outcomes. Although the Company believes that the expectancies meditated in such forward-searching statements are reasonable, they do contain assumptions, dangers and uncertainties, and those expectancies may also show to be incorrect. You need to now no longer place undue reliance on those forward-searching statements, which talk best as of the date of this press launch. The Company’s real outcomes may want to fluctuate materially from the ones predicted in those forward-searching statements because of lots of dangers and uncertainties, which includes dangers associated to: our capacity to preserve as a going concern; our capacity to elevate extra financing to satisfy our commercial enterprise requirements; the transformation of our commercial enterprise version; fluctuations in our running outcomes; pressure to our employees management, economic structures and different sources as we develop our commercial enterprise; our capacity to draw and keep key personnel and senior management; aggressive pressure; our global operations; and different dangers and uncertainties disclosed below the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our maximum latest Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and comparable disclosures in next reviews filed with the SEC, which might be to be had at the SEC internet site at www.sec.gov. All forward-searching statements on account of the Company or folks performing on its behalf are expressly certified of their entirety with the aid of using those danger factors. Other than as required below the securities laws, the Company does now no longer count on a responsibility to replace those forward-searching statements.

Ideanomics Contacts:

Ideanomics, Inc.   

Tony Sklar, SVP of Investor Relations 

1441 Broadway, Suite 5116, New York, NY 10018 ir@ideanomics.com

Theodore Rolfvondenbaumen, Communications Director Trolfvondenbaumen@ideanomics.com


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