Ideanomics consolidates its portfolio of charging solutions for commercial EVs into one brand - WAVE Charging

Rhea-AI Summary

Ideanomics (NASDAQ: IDEX) announced the consolidation of its charging solutions under a single brand, WAVE Charging, aimed at enhancing market presence and brand recognition. This new brand includes services such as inductive charging, DC fast chargers, and mobile solutions. WAVE Charging is positioned as the preferred provider for VIA Motor's electric work trucks, offering integrated EV and charging solutions. The company plans to manufacture components in the U.S., supporting local employment, while exploring partnerships to strengthen its supply chain. This initiative aims to simplify fleet electrification and maximize returns.

Positive

• Consolidation of charging solutions under WAVE Charging brand for improved market presence.
• Partnership with VIA Motor's for cost-efficient integrated EV and charging solutions.
• Plans for U.S.-based manufacturing to create local jobs.
• Exploration of strategic partnerships to enhance supply chain and global deployment.

Negative

• None.

NEW YORK, March 28, 2023 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of zero-emission vehicles, today announced that the company has created a single touch point to the market for its charging solutions - WAVE Charging.

Ideanomics has created a single touch point to the market for its charging solutions - WAVE Charging

By naming the company WAVE Charging, Ideanomics is capitalizing on the brand recognition built by WAVE wireless charging. Technologies and services that will be sold under the WAVE Charging brand include:

• Inductive charging
• DC fast charger
• Mobile charging solutions
• End to end Infrastructure solutions
• Charge Management Software

"Consolidating our investments in charging solutions will allow us to optimize manufacturing and distribution, which will ultimately lead to better returns and a stronger offering to our customers," says Robin Mackie, Chief Operations Officer at Ideanomics. "WAVE Charging brings all our charging solutions and services under one brand, and the WAVE Charging team will work closely with our customers to analyze their operations and create a full plan to support their current and future fleet needs based on their electric vehicle type and operational duty cycles."

Ideanomics has positioned WAVE Charging as the preferred charging solutions provider for VIA Motor's electric work trucks. Together, WAVE Charging and VIA offer a cost-efficient, integrated EV and charging solution for VIA's customers, as well as any other EV fleet operators. The WAVE Charging and VIA team will work together to engage customers collaboratively.

WAVE Charging plans to manufacture its charging solutions and components in the United States, supporting local green jobs. WAVE Charging will also explore strategic partnerships to strengthen its supply chain and accelerate the deployment of its innovative charging solutions globally.

Ideanomics is solving the complexity of fleet electrification by bringing together high-performance electric vehicles, charging infrastructure and financing solutions all under one roof.

About Ideanomics

Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide solutions needed for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involve known and unknown risks and uncertainties, and include the statement regarding the completion of the business combination within a certain period of time, if ever. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to obtain necessary regulatory approvals and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations and Media Contact

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Email: ir@ideanomics.com

Theodore Rolfvondenbaumen
Communications Director
Email: trolfvondenbaumen@ideanomics.com

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SOURCE Ideanomics

FAQ

What is the new WAVE Charging brand announced by Ideanomics?

WAVE Charging is a consolidated brand for Ideanomics' charging solutions, including inductive charging and DC fast chargers, aimed at enhancing market recognition.

How does WAVE Charging benefit VIA Motor's customers?

WAVE Charging provides an integrated cost-efficient EV and charging solution for VIA Motor's electric work trucks.

Where will WAVE Charging manufacture its solutions?

WAVE Charging plans to manufacture its solutions and components in the United States.

What is Ideanomics' mission with WAVE Charging?

Ideanomics aims to simplify fleet electrification by combining high-performance electric vehicles, charging infrastructure, and financing solutions.

What services are included under the WAVE Charging brand?

WAVE Charging includes services like inductive charging, DC fast chargers, mobile charging solutions, end-to-end infrastructure solutions, and charge management software.