IDEANOMICS INC - IDEX STOCK NEWS

Ideanomics (NASDAQ: IDEX) reported full-year 2021 revenues of $114.1 million, a significant increase from $1.6 million in 2020, marking a growth of $82.7 million from US operations. The company's gross profit reached $23.2 million, reflecting a 20.4% gross margin. CEO Alf Poor highlighted the firm's transformation through acquisitions, positioning it uniquely in the commercial electrification market. As the transition to electric vehicles accelerates, Ideanomics expects revenue growth to continue in 2022, promising more earnings updates soon.

Energica Motor Company, a subsidiary of Ideanomics (NASDAQ: IDEX), has announced the dates for Energica Week 2022, scheduled from September 5 to 9, 2022. This event will celebrate the electric motorcycle community, featuring a ribbon-cutting ceremony at Energica's expanded headquarters in Modena, Italy. The new facility will double the production area, aiming for greater output in 2023. Energica's U.S. retail sales have surged fivefold year-to-date, with a 104% increase in sales globally. The company is also expanding its dealer network and launching new technology initiatives, indicating robust growth for the future.

Ideanomics (NASDAQ: IDEX) announced it has received an additional notice of non-compliance from Nasdaq due to its failure to file the Form 10-Q for the quarter ended June 30, 2022. This follows previous notices related to non-compliance with other filing requirements. The company aims to regain compliance by September 12, 2022, to avoid further repercussions, including a hearing panel request. The press release emphasizes the company's commitment to the commercial adoption of electric vehicles.

Ideanomics has launched WareSmart, a free web-based tool targeted at warehouse operators in the South Coast Air Quality Management District (SCAQMD). This tool assists users in navigating the Indirect Source Rule 2305 and complying with the Warehouse Actions and Investments to Reduce Emissions (WAIRE) program. With features for fee estimation and ROI scenario planning, WareSmart aims to simplify compliance and encourage the adoption of electrification solutions. This strategic initiative supports over 3,000 warehouses in reducing emissions and fines associated with regulatory compliance.

Solectrac, an electric tractor manufacturer and a part of Ideanomics (NASDAQ: IDEX), announces the addition of two new dealers, Love Power Equipment in Florida and Specialty Tractors in Ohio, expanding its dealer network to seven nationwide. This growth strengthens Solectrac's presence in the electric tractor market, catering to hobby farms and municipalities seeking clean energy solutions. The company aims to provide sustainable farming alternatives to diesel tractors, enhancing its reputation in the agricultural sector.

Solectrac, a subsidiary of Ideanomics (NASDAQ: IDEX), announced that its e25 compact electric tractor is now eligible for California's $125 million CORE Voucher Incentive Program. This initiative aims to assist off-road equipment users in purchasing zero-emission tractors, thus promoting the transition towards electric options. Financial assistance will help mitigate the upfront costs typically associated with electric tractors compared to diesel models. The CORE program collaborates with the California Air Resources Board to enhance air quality and meet emissions goals.

Solectrac has partnered with Nolan Manufacturing to establish a new 10,000-square-foot production facility in Denton, North Carolina, aimed at expanding its electric tractor operations and supporting its growing dealer network. This facility will primarily manufacture the e25 electric tractor and will enhance Solectrac's presence on the East Coast. Since Ideanomics acquired Solectrac in June 2021, the company has added several dealers across the U.S., indicating strong demand for their eco-friendly tractors.

Solectrac, a company under Ideanomics (NASDAQ: IDEX), has expanded its dealer network by adding three new locations in Florida, Georgia, and Idaho. This strategic growth enhances their nationwide presence, following previous expansions in the Pacific Northwest and Alabama. Solectrac aims to meet the increasing demand for electric tractors, focusing on sustainable agricultural solutions. Their tractors are designed for diverse applications while maintaining performance comparable to diesel models, marking a significant step towards zero-emission farming.

InoBat Auto and Ideanomics announced plans to develop electric vehicle (EV) battery facilities in Indiana, USA, enhancing their strategic partnership. They aim to establish an R&D and production site with an initial capacity of 100 MWh, followed by a commercial-scale plant capable of producing 2-3 GWh annually. The State of Indiana supports this initiative due to favorable conditions for industrial projects. This move stems from Ideanomics' January 2022 investment in InoBat, ensuring a secure battery supply and the development of advanced battery solutions for the U.S. market.