IDEANOMICS INC - IDEX STOCK NEWS

Ideanomics (NASDAQ: IDEX) announced the launch of the new e25H electric tractor by its subsidiary Solectrac on April 6, 2023. This tractor features a hydrostatic transmission and is set to enhance operational performance with zero emissions. The e25H is slated for orders in the second half of 2023, joining the currently available e25G. Solectrac's production capacity has tripled since last year, during which it sold a record 350 e25 tractors. The company continues expanding its dealer network across the U.S., supported by financing from Ideanomics and DLL. To assist customers, Solectrac offers the SolecSave app, which outlines the total cost of ownership compared to diesel tractors and available incentives. Ideanomics aims to streamline the transition to electric vehicles through comprehensive solutions for fleet electrification.

Ideanomics (NASDAQ: IDEX) announced significant growth for its subsidiary, Solectrac, which added eight certified dealerships with 14 locations in Florida, Texas, and California during Q1 2023. New dealers are projected to order up to six Solectrac tractors each for demonstrations. Solectrac's revenue quadrupled in 2022 compared to 2021, reflecting strong brand strength and market presence. In response to increasing demand, Solectrac boosted production capacity by 300% and plans to introduce new product variants, including the e75 tractor. Ideanomics aims to facilitate fleet electrification through its comprehensive solutions.

Ideanomics (NASDAQ: IDEX) reported its Full Year 2022 results, showcasing a 70% increase in revenue from electric vehicles (EVs) and charging solutions, totaling $68.3 million compared to $39.9 million in 2021. However, overall revenue fell 11% to $100.9 million. The gross profit turned negative at $0.8 million, a decline from $23.2 million in the previous year. Despite challenges in the EV sector, the company is strategically investing in production capacity and management, indicating readiness for the growing demand for zero-emission transportation. Key highlights include a significant $170 million order for VIA Motors and sales of over 850 branded electric vehicles.

Ideanomics (NASDAQ: IDEX) has rescheduled its conference call to discuss fourth quarter and full year 2022 financial results to 8:30 a.m. ET on March 30, 2023. The call will feature remarks from senior management followed by a Q&A session. Interested parties can access the call via a webcast link or by dialing in at the provided numbers. A replay of the call and earnings materials will be available on the company’s investor relations website.

Ideanomics aims to accelerate the adoption of electric vehicles by integrating vehicles with charging technology and financial services.

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.

Ideanomics (NASDAQ: IDEX) announced a conference call scheduled for March 28, 2023, at 4:30 p.m. ET to discuss its fourth quarter and full year 2022 financial results. The senior management team will present prepared remarks, followed by a Q&A session. For those unable to attend live, a replay will be available on the Company’s investor relations website. Ideanomics focuses on accelerating the adoption of electric vehicles (EVs) by offering solutions that integrate vehicles, charging technology, and financial services.

Ideanomics (NASDAQ: IDEX) has partnered with Fenton Mobility Products to produce five hydrogen-powered transit vans for the Rochester-Genesee Regional Transportation Authority (RGRTA), with the order value exceeding $2.2 million. This initiative uses part of a $23 million grant from the U.S. Department of Transportation aimed at deploying hydrogen fuel cell buses. The first vehicle will undergo testing, with subsequent deliveries scheduled for Q1 2024. This collaboration reflects New York's goal to achieve a fully zero-emission bus fleet by 2035, emphasizing the importance of hydrogen as a clean energy solution.

On March 15, 2023, Ideanomics (NASDAQ: IDEX) announced that its subsidiary, Energica Motor Company, has formed partnerships with Phenix Air Corp and Pure Flight to develop all-electric solutions for ultra-light and light aircraft. Energica is integrating its electric powertrain into various aircraft, including a seaplane and a Sonex airframe, to evaluate performance metrics. With these collaborations, Energica aims to accelerate the aviation industry's transition to zero-emission technology. Energica Inside, Energica's new business unit, is poised to expand its EV technology applications across multiple sectors, highlighting Ideanomics' commitment to electric vehicle innovation.