Solectrac Announces Certified Dealer in Washington and Oregon to Service and Support Customers in the Pacific Northwest

Rhea-AI Summary

Solectrac, an electric tractor manufacturer and part of Ideanomics (NASDAQ: IDEX), announced its expansion into the Pacific Northwest with a new certified dealer, Brim Tractor, located in Lynden, Washington. This partnership provides access to Solectrac's electric tractors, including the e25 and award-winning e70N models, to hobby farmers and first-time buyers. Solectrac plans to further expand its dealer network this year to meet growing demand. The company emphasizes its commitment to electric solutions that reduce the total cost of ownership compared to diesel tractors.

Positive

• Expansion of sales and service network with new certified dealer Brim Tractor.
• Brim Tractor to offer full lineup of electric tractors, enhancing accessibility.
• Growing demand for electric tractors indicates positive market reception.

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• None.

SANTA ROSA, Calif., March 31, 2022 /PRNewswire/ -- Solectrac, an electric tractor manufacturer and an operating company of Ideanomics (NASDAQ: IDEX), today announced it is expanding its sales and service network as part of its nationwide plan with the addition of a new certified dealer in the Pacific Northwest. Brim Tractor, a leading agricultural equipment dealer located in Lynden, Washington, is the first certified Solectrac dealer on the West Coast and will offer the company's full lineup of electric tractors including the e25 compact electric tractor, and the award-winning e70N, a powerful, narrow electric tractor purpose-built for vineyards and orchards. Solectrac will further expand its dealer network outside of the Pacific Northwest this year to meet the increasing demand for the company's award-winning electric tractors.

Solectrac and Brim Tractor will deliver electric tractor solutions to hobby farmers, rural lifestylers, first-time tractor buyers and more - while reducing their total cost of ownership compared to the cost of a diesel-fueled tractor, without sacrificing safety, performance and reliability.

Brim Tractor serves the greater Pacific Northwest area, and its opening supports Solectrac's continued expansion of its dealer network into key markets. Solectrac's all-electric tractors allow farmers to power their tractors by using the sun, wind and other renewable energy sources.

Today's announcement marks a major milestone for Solectrac, as the company looks to build out a world-class dealer network under the stewardship of recently appointed CEO Mani Iyer. Since Iyer's July 2021 appointment, the company has launched a new flagship tractor - the e70N, won major industry awards and hired John Deere veteran, Hariharan Viswanathan, as SVP of Product and Supplier Development. Since being acquired by Ideanomics in June 2021, Solectrac has made progress in facility expansion, advancement in engineering, after sales service, product support, hiring and more. 

"As we expand our certified dealer network, we are proud to partner with Brim Tractor, the leading agricultural equipment dealer in the Pacific Northwest," said Mani Iyer, CEO of Solectrac. "It is important for us to make our electric tractors more accessible by onboarding reliable retail partners. Brim Tractors brings decades of industry experience and a dedication to customer service that will undoubtedly support our customers as they transition to clean, electric and affordable solutions."

A family-owned and operated business since 1966, the Brim family founded Brim Tractor to support their local farm operations in Longview, Wash. Brim's team of sales members, finance experts, service technicians, and knowledgeable parts and accessories staff will help deliver superior customer service and support to new Solectrac customers in the area.

"Through this partnership with Solectrac, Brim Tractor is continuing to grow our core product offerings while delivering electrification solutions to farm operators," said Dan Brim, President of Brim Tractor. "Agriculture is the heart of the Pacific Northwest and Brim Tractor is committed to offering the most innovative and sustainable equipment solutions with the lowest total cost of ownership for our customers."

Solectrac electric tractors are available for purchase at all Brim Tractor locations in Washington, which include Lynden, Mount Vernon, Pacific, Rainier and Chehalis, in addition to Brim's locations in Rainier, Salem and Eugene, Oregon.

Solectrac tractors are assembled in Santa Rosa, Calif. and the company is B Corp Certified. For more information and news on Solectrac, please visit www.solectrac.com.

About Solectrac
Solectrac, Inc., located in Northern California, has developed 100% battery-powered, electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean, renewable sources of energy. The company's mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.

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 the 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 certain statements that may include "forward looking statements". 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 statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. 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 continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; 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.

Contacts:

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

Malory Van Guilder, Skyya PR for Ideanomics
malory@skyya.com 

 

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SOURCE Solectrac

FAQ

What recent announcement did Ideanomics make regarding Solectrac?

Ideanomics announced that Solectrac is expanding its sales and service network by adding Brim Tractor as a certified dealer in the Pacific Northwest.

What models of electric tractors will Brim Tractor offer?

Brim Tractor will offer Solectrac's e25 compact electric tractor and the award-winning e70N electric tractor.

How does Solectrac's electric tractor ownership cost compare to diesel tractors?

Solectrac's electric tractors are promoted as having a lower total cost of ownership compared to traditional diesel tractors.

Where is Brim Tractor located?

Brim Tractor is located in Lynden, Washington, serving the greater Pacific Northwest area.

What is the significance of this partnership for Solectrac?

This partnership with Brim Tractor marks a major milestone in expanding Solectrac's dealer network and increasing accessibility to their electric tractors.