NEW
YORK, Sept. 19, 2022 /PRNewswire/
-- Ideanomics (NASDAQ: IDEX), a global company focused on
accelerating the commercial adoption of electric vehicles (EV), is
pleased to announce that its subsidiary Solectrac is
continuing with the rapid expansion of its certified sales and
dealer network. For the first time, Solectrac climate-smart
tractors are available in Hawaii,
Maine, North Carolina, Pennsylvania, Tennessee, Texas, and West
Virginia. The company also continues to strengthen its
position in California with two
added dealers. Customers can now find Solectrac tractors coast
to coast across the U.S. at 38 locations.
"Our growth strategy is working. In just six months, we saw more
Solectrac tractor sales than all of last year," said Ideanomics
Mobility President, Robin Mackie.
"Of course, this is no surprise. Solectrac makes the best electric
tractor – it's powerful, quiet, and zero-emission. By expanding our
dealer network, we are making it as easy as possible for customers
to see, touch, test, and ultimately own one."
The new dealer partners include Bacon Universal Co., Inc.
(Hawaii), Bangor Tractor &
Equipment (Maine), Beeler
Tractor Co. (Calif.), Bill's Tractor and Equipment, LTD.
(Texas), Cox Tractor Co.,
Inc. (Tenn.), N&S Tractor (Calif.), O.P.E. of America,
Inc. (N.C.), PowerPro Equipment (Pa.), and Tractor
Pros (W.Va.). With the addition of these new dealers,
Solectrac tractors are available at 16 dealers across 15 states.
Enabled by its fast-growing dealer network, Solectrac has been able
to sell every tractor that rolls off the assembly line.
To support its expanding number of dealers and growing customer
base, Solectrac has developed a first-to-market, online total
cost of ownership calculator called SolecSave. SolecSave provides
customers with a clear picture of the total cost of owning an
electric tractor vs. a combustion engine tractor and provides
information on available incentives and grants to buy an electric
tractor. This tool is the latest example of how Ideanomics and its
subsidiaries are providing customers with resources to navigate the
complexity of fleet electrification, such as WareSmart for
warehouse operators in Southern
California.
Solectrac is developing several additional new tractor models
with plans to introduce the first new model in 2023. The company
recently moved into a new, larger facility, which will
significantly enhance its manufacturing and assembly capacity once
up and running including a well-stocked parts warehouse and service
training center. Additionally, Solectrac established a partnership
with Nolan Manufacturing to support its growing demand along
the east coast.
Ideanomics is solving the complexity of fleet electrification by
bringing together high-performance electric vehicles, charging
infrastructure, and financing solutions under one roof. The company
views Solectrac's electric tractors as a flagship solution for the
fast-growing, high-value off-road vehicle market. Ideanomics is
committed to supporting the growth of Solectrac, which includes
exploring opportunities to incorporate technology from Energica,
maker of the world's best electric motorcycle, into the next
generation of Solectrac tractors.
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
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
Theodore Rolfvondenbaumen, Communications Director
Trolfvondenbaumen@ideanomics.com
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SOURCE Ideanomics