NEW YORK, July 1, 2021 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX) ("Ideanomics" or the "Company") today announced that
its subsidiary, Solectrac, has named Mani
Iyer as CEO, positioning the company for manufacturing and
distribution scale of its innovative electric tractors.
Iyer, a 28-year veteran of the agricultural and construction
industries, specializes in the farm tractor category, and has
served a wide variety of leadership positions in North America, South
America, and Asia. Iyer's
expertise includes international equipment sales and marketing,
business strategy and development, channel development, supply
chain management, product support and service, manufacturing, and
quality assurance.
"As the world rapidly moves towards an electric-powered
sustainable future, Solectrac is well-positioned for Mani to take
the wheel and lead the team as they scale their operations and
drive market share with truly inspiring product offerings," said
Alf Poor, CEO of Ideanomics.
"Solectrac is the future of sustainable agriculture, and I am
confident in his ability to manage the company through rapid growth
and expansion in the coming months as the farming and utility
operation sectors transition to cleaner and more efficient
equipment alternatives."
Prior to joining Ideanomics, Iyer served as president of LiuGong
North America, and president and CEO of Mahindra Agriculture
Americas, where he led the nearly unknown brand to a "top three"
position in the North American market. His record of delivering
distribution and supply chain innovation has earned him a
reputation for proven results within the tractor industry and
beyond.
"I am pleased and honored to accept this important new role with
Solectrac as they continue to disrupt the tractor market and
rapidly reshape the future of clean and sustainable agriculture
with pioneering new electric tractor alternatives," said Iyer.
"Through a relentless focus on reducing the total cost of
ownership, creating a category-leading portfolio of best-in-class
tractors and accessories, and driving the buildout of a world-class
dealer network, Solectrac will be poised for rapid market share and
revenue expansion. We will also leverage lending and financial
services from Ideanomics Capital to jumpstart sales through
innovative financing and promotions in both our online and dealer
channels for a simple and seamless buying experience."
Solectrac is a wholly-owned subsidiary of Ideanomics and started
as a family business. The company is located in Albion, CA, and was founded by Steve Heckeroth in 2012 to be North America's first manufacturer and
distributor of quiet, zero-emission electric tractors. Heckeroth
has dedicated his life to creating eco-friendly solutions that have
a lasting impact in reducing our planet's reliance on
non-renewable, environmentally damaging fossil fuels. Heckeroth led
the search process for the new CEO and will serve as Chairman of
the Board for Solectrac.
"I'm thrilled to have Mani in this role with Solectrac and look
forward to our collaboration to advance our founding vision and
elevate the state-of-the-art in clean agriculture," said Heckeroth.
"Mani brings a wealth of experience in supply chain and channel
distribution, along with a stellar network of dealer relationships,
all of which will be invaluable to the growth of the company as we
continue to lead the zero-emission, regenerative farming
movement."
To learn more about Solectrac's mission to lead the transition
to zero-emission regenerative agriculture, visit solectrac.com. For
more information and news on other Ideanomics subsidiaries, please
visit https://ideanomics.com.
About Solectrac
Solectrac, Inc., located in
Northern California, has developed
100% battery-powered, all-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 is a global company
focused on the convergence of financial services and industries
experiencing technological disruption. The Ideanomics Mobility
division is a service provider which facilitates the adoption of
electric vehicles by commercial fleet operators through offering
vehicle procurement, finance and leasing, and energy management
solutions under an innovative sales to financing to charging
(S2F2C) business model. Ideanomics Capital is focused on disruptive
fintech solutions for the financial services industry. Together,
Ideanomics Mobility and Ideanomics Capital provide global customers
and partners with leading technologies and services designed to
improve transparency, efficiency, and accountability, and offer
shareholders the opportunity to participate in high-potential
growth industries.
Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116, New York,
NY 10018
ir@ideanomics.com
Jeremy Ertl, Skyya PR for
Ideanomics
jeremy@skyya.com
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SOURCE Ideanomics