Ideanomics enhances the availability of Solectrac electric tractors across the United States with seven new dealer partnerships
Ideanomics (NASDAQ: IDEX) has announced the expansion of its subsidiary Solectrac's dealer network, with new dealers in Hawaii, Maine, North Carolina, Pennsylvania, Tennessee, Texas, and West Virginia. This marks a significant step forward, with Solectrac's climate-smart tractors now available at 38 locations nationwide. Sales of Solectrac tractors have surpassed total sales from the previous year within just six months. The company has also introduced the SolecSave online calculator to assist customers in understanding the ownership costs of electric tractors.
- Solectrac has expanded its dealer network to 38 locations across 15 states, enhancing market access.
- Sales of Solectrac tractors have exceeded all sales from the previous year within six months.
- Introduction of the SolecSave online calculator to help customers evaluate the cost of ownership for electric tractors.
- None.
NEW YORK, Sept. 19, 2022 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), is pleased to announce that its subsidiary Solectrac is continuing with the rapid expansion of its certified sales and dealer network. For the first time, Solectrac climate-smart tractors are available in Hawaii, Maine, North Carolina, Pennsylvania, Tennessee, Texas, and West Virginia. The company also continues to strengthen its position in California with two added dealers. Customers can now find Solectrac tractors coast to coast across the U.S. at 38 locations.
"Our growth strategy is working. In just six months, we saw more Solectrac tractor sales than all of last year," said Ideanomics Mobility President, Robin Mackie. "Of course, this is no surprise. Solectrac makes the best electric tractor – it's powerful, quiet, and zero-emission. By expanding our dealer network, we are making it as easy as possible for customers to see, touch, test, and ultimately own one."
The new dealer partners include Bacon Universal Co., Inc. (Hawaii), Bangor Tractor & Equipment (Maine), Beeler Tractor Co. (Calif.), Bill's Tractor and Equipment, LTD. (Texas), Cox Tractor Co., Inc. (Tenn.), N&S Tractor (Calif.), O.P.E. of America, Inc. (N.C.), PowerPro Equipment (Pa.), and Tractor Pros (W.Va.). With the addition of these new dealers, Solectrac tractors are available at 16 dealers across 15 states. Enabled by its fast-growing dealer network, Solectrac has been able to sell every tractor that rolls off the assembly line.
To support its expanding number of dealers and growing customer base, Solectrac has developed a first-to-market, online total cost of ownership calculator called SolecSave. SolecSave provides customers with a clear picture of the total cost of owning an electric tractor vs. a combustion engine tractor and provides information on available incentives and grants to buy an electric tractor. This tool is the latest example of how Ideanomics and its subsidiaries are providing customers with resources to navigate the complexity of fleet electrification, such as WareSmart for warehouse operators in Southern California.
Solectrac is developing several additional new tractor models with plans to introduce the first new model in 2023. The company recently moved into a new, larger facility, which will significantly enhance its manufacturing and assembly capacity once up and running including a well-stocked parts warehouse and service training center. Additionally, Solectrac established a partnership with Nolan Manufacturing to support its growing demand along the east coast.
Ideanomics is solving the complexity of fleet electrification by bringing together high-performance electric vehicles, charging infrastructure, and financing solutions under one roof. The company views Solectrac's electric tractors as a flagship solution for the fast-growing, high-value off-road vehicle market. Ideanomics is committed to supporting the growth of Solectrac, which includes exploring opportunities to incorporate technology from Energica, maker of the world's best electric motorcycle, into the next generation of Solectrac tractors.
About Ideanomics
Ideanomics is a global group with a simple mission: accelerating the commercial adoption of electric vehicles. By bringing together vehicles, charging, and financing solutions under one roof, we are the one-stop partner needed to simplify the transition to and operation of any EV fleet. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.
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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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