Ideanomics launches a product design studio to create a new generation of high-performance electric mobility and charging solutions

Rhea-AI Summary

Ideanomics (Nasdaq: IDEX) has launched Ideanomics Design, an in-house product design studio aimed at enhancing its electric vehicle (EV) and charging solutions. This initiative is expected to streamline design processes, boost efficiency, and strengthen the company's balance sheet. The new design philosophy focuses on customizable and modular solutions, with plans for three new electric tractors to be introduced in 2023. Ideanomics Design will also generate revenue through consulting services, while integrating its Mobility, Energy, and Capital verticals to simplify fleet electrification.

Positive

• Launch of Ideanomics Design to enhance product design and efficiency.
• Expected introduction of three new electric tractors in 2023.
• Revenue generation through consulting services for third parties.
• Integration of three verticals: Mobility, Energy, and Capital for fleet electrification.

Negative

• None.

NEW YORK, Sept. 26, 2022 /PRNewswire/ -- Ideanomics (Nasdaq: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), is strengthening its position as a leading commercial electric vehicle and charging OEM by establishing in-house design capabilities. Ideanomics Design will shape the future of commercial EV solutions industrywide and strengthen Ideanomics' balance sheet by embedding a more cost-effective, efficient, and standardized design process across the organization. 

"Ideanomics Design is our soul. We now have a team of remarkable people with strong automotive and industrial design experience who, for the first time, have brought to life Ideanomics' vision of an all-electric future," said Alf Poor, Ideanomics CEO. "Our design philosophy is about customizable, modular and multi-use solutions. For example, let's transform bus stops into hubs where people can park and charge their Energica bikes and then hop on an electric bus operating on VIA's BEV skateboard technology powered by WAVE wireless charging. That central hub can also use our advanced containerized charging technology to generate and store energy and help power a city." 

Ideanomics recently introduced its three verticals of Mobility, Energy and Capital, each accountable for managing the operational performance of the company's vehicle and charging brands. Ideanomics Design is a change catalyst and integrator, working across verticals and brands to spur creative thinking as well as simplify and standardize the product design process.

For example, Ideanomics Design is developing the physical branding and styling in collaboration with Energica and Solectrac on the design of Solectrac's new range of tractors. Essentially, combining the technology from the world's best electric motorcycle with the styling created by Ideanomics Design to make the new generation of Solectrac electric tractors even better. Ideanomics expects three new tractors to be introduced to the market in 2023 – all created under Ideanomics' new design philosophy.

"During every step of the design process, we are putting the customers' needs first," says Carlos Arroyo, chief designer at Ideanomics. "My team is committed to bringing the needs and wants of each customer into the design process and combining Ideanomics' brands, technology and engineering expertise to create elegant product offerings that provide the absolute best customer experience possible and inspire the digital generation." 

Ideanomics Design is also introducing an innovative, modular design approach to increase efficiency and flexibility across different product categories. This will revolutionize the customer experience, enabling Ideanomics to deliver low-cost, automated manufacturing that allows customers to track and customize their products while they are being built. While primarily focused on in-house work, Ideanomics Design will also generate revenue by providing consulting services to third parties. 

Ideanomics is solving the complexity of fleet electrification by bringing together high-performance electric vehicles, charging infrastructure and financing solutions under one roof. Through its three verticals, Mobility, Energy and Capital, the company provides turnkey commercial electrification solutions for customers, no matter where they are on their electrification journey.

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.  

Safe Harbor Statement  

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected timing for the filing of the Form 10-K, the Company's ability to regain compliance with the Nasdaq requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions that involve known and unknown risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to the failure of the Company to file the Form 10-K on its expected timeline and other risk factors discussed from time to time in the Company's filings with the SEC. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, without limitation, the Company's most recent Form 10-K and Form 10-Q. The Company expressly disclaims any intent or obligation to update these forward-looking statements other than as required by law.

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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SOURCE Ideanomics

FAQ

What is Ideanomics Design and its purpose?

Ideanomics Design is an in-house product design studio launched by Ideanomics to create customizable and modular electric vehicle solutions while improving design efficiency.

When will Ideanomics introduce new electric tractors?

Ideanomics plans to introduce three new electric tractors in 2023 as part of its new design philosophy.

How will Ideanomics Design generate revenue?

Ideanomics Design will generate revenue by offering consulting services to third parties in addition to its in-house projects.

What are the verticals of Ideanomics?

Ideanomics operates through three verticals: Mobility, Energy, and Capital, which manage the performance of its vehicle and charging brands.

What is the significance of the launch of Ideanomics Design?

The launch of Ideanomics Design is significant as it aims to streamline the product design process, enhance profitability, and position Ideanomics as a leader in the EV market.