NEW
YORK, Jan. 26, 2023 /PRNewswire/
-- Ideanomics (NASDAQ: IDEX), a global company focused on
accelerating the commercial adoption of electric vehicles (EV),
today announced that it has completed its acquisition of VIA Motors
(VIA), a U.S. based all-electric commercial vehicle
manufacturer.
Ideanomics completes the acquisition of VIA
Motors, targets fast growing commercial EV delivery sector.
"Our acquisition of VIA Motors brings significant revenue
generation potential to Ideanomics and its shareholders," says
Ideanomics Executive Chairman, Shane
McMahon. "We cannot be more thrilled to welcome VIA to
Ideanomics."
Ideanomics and VIA will begin collaboration to pair VIA's
electric work trucks with Ideanomics Energy's turnkey charging
solutions. As part of this, Ideanomics Energy will become the
preferred charging solutions provider for VIA, enabling customers
to unleash the full potential of their new VIA work trucks with AC
and DC chargers, advanced wireless charging, and containerized
charging. Additionally, Ideanomics and VIA will explore potential
opportunities to utilize VIA's VDRIVE™ skateboard with
non-competing OEMs.
"Together, Ideanomics and VIA will introduce a
cost-efficient, integrated EV and charging solution for commercial
fleets, which has been sorely lacking in the market," says
Alf Poor, CEO of Ideanomics.
"Ideanomics will help VIA move swiftly to ramp up production of
their VTRUX® portfolio of class 2 to 5 trucks, vans
and proprietary skateboards, and leverage Ideanomics' turnkey
charging and financing solutions to give fleet operators a better
way to own and operate VIA electric work trucks faster, easier and
more affordably."
VIA's value is rooted in its VDRIVE™ electric skateboard
and VTRUX® modular vehicle portfolio, which has
been designed from the ground up to meet the needs of commercial
fleet operators and drivers. VIA will offer a full range of
fit-for-purpose configurations with its chassis cab including
last-mile delivery vans, box and stake trucks, school buses and
shuttles and more. BloombergNEF projects that more than 1 million
battery-electric light and medium commercial vehicles will be on
the road in the U.S. by 2030.
"Closing this transaction marks a great day for all of us. VIA
Motors is changing last and mid-mile delivery with innovative and
affordable electric commercial vehicles, which we can do even
better by leveraging Ideanomics's charging solutions, and
financing," says Bob Purcell, CEO
VIA Motors. "Ideanomics will provide the resources we need to
commence production and deliver great products to our
customers."
VIA will join Ideanomics Mobility, one of the company's three
strategic verticals. VIA CEO Bob
Purcell and VIA's management team, with decades of
automotive industry experience and expertise, will continue to lead
the company.
Ideanomics and VIA are positioned to move at pace to deliver.
Since June of 2021, Ideanomics has provided financing for VIA's
technology research and development, facility expansion, and
hiring of additional staff to enable full OEM capabilities. As a
result, VIA has secured initial orders and established a
co-development partnership with EAVX, a business unit of JB
Poindexter & Co., to develop a fully electric class 2b delivery
van.
"VIA Motors is one of several EV companies Ideanomics has
acquired in recent years. As part of our journey to become the
leading partner for electrifying commercial fleets, Ideanomics
targeted undervalued EV and charging companies with strong
management teams, differentiated products and technology, and the
potential for significant revenue generation," says
McMahon.
As part of Ideanomics, Energica, Solectrac, US Hybrid and WAVE
have been transformed from promising startups to leading companies
in their respective market segments; Ideanomics' objective is to
create the same success at VIA.
With VIA Motors, Ideanomics rounds out its offering as a
customer-centric EV and charging solutions provider committed to
making the transition to commercial electric fleets fast,
affordable and easy. The company's subsidiaries, managed
through Ideanomics' three verticals (Ideanomics Mobility,
Ideanomics Energy and Ideanomics Capital), provide turnkey
commercial electrification solutions for customers, no matter where
they are on their electrification journey. With a deep bench of
industry experts, Ideanomics provides customers with end-to-end EV
and charging support to ensure customers are equipped with the
right solutions for their unique needs.
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
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the expected timing for the
filing of the Form 10-K, the Company's ability to regain compliance
with the Nasdaq requirements for continued listing and related
matters. These forward-looking statements are often identified by
the use of forward-looking terminology such as "believes,"
"expects," or similar expressions that involve known and unknown
risks and uncertainties. Any forward-looking statements contained
herein are based on current expectations, but are subject to risks
and uncertainties that could cause actual results to differ
materially from those indicated, including, but not limited to,
risks and uncertainties relating to the failure of the Company to
file the Form 10-K on its expected timeline and other risk factors
discussed from time to time in the Company's filings with the SEC.
These and other factors are identified and described in more detail
in the Company's filings with the SEC, including, without
limitation, the Company's most recent Form 10-K and Form 10-Q. The
Company expressly disclaims any intent or obligation to update
these forward-looking statements other than as required by
law.
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