Idex Stock Price, News & Analysis

Ideanomics (NASDAQ: IDEX) has successfully completed its acquisition of VIA Motors, an all-electric commercial vehicle manufacturer, aimed at enhancing its presence in the fast-growing commercial electric vehicle (EV) sector. This strategic move is anticipated to unlock significant revenue potential for Ideanomics and its shareholders. The companies will collaborate to integrate VIA's electric work trucks with Ideanomics Energy's charging solutions, creating a cost-efficient and comprehensive EV offering for commercial fleets. VIA's innovative products, including the VDRIVE™ skateboard and VTRUX® trucks, position it for growth, with BloombergNEF forecasting over 1 million electric commercial vehicles in the U.S. by 2030.

Ideanomics subsidiary Energica Motor Company reported a significant increase in sales for 2022, with global unit sales rising approximately 52% and motorcycle revenues up by 67% compared to 2021. The company noted a 70% increase in future orders for 2022, particularly for the new Experia sport-tourer. Energica is also entering the lucrative Japanese and Australian markets, with motorcycles expected to arrive in Q1 2023. Furthermore, the company aims to enhance its dealer network, which has grown to 135 locations worldwide.

Ideanomics (Nasdaq: IDEX) announces a collaboration with Toyota Tsusho America, Inc. and its subsidiary U.S. Hybrid to accelerate the use of hydrogen in port drayage operations. They will retrofit a second Top Pick Stacker with a hydrogen fuel cell system, enhancing zero-emission capabilities. This second phase aims for delivery to the Yusen Terminal in early 2023. The project, supported by the U.S. and Japanese governments, seeks to reduce pollution from fossil fuel-powered vehicles at critical ports in Southern California.

Ideanomics (NASDAQ: IDEX) has announced that its subsidiary, Energica, will begin selling high-performance electric motorcycles in Japan and Australia, with initial shipments expected in Q1 2023. Japan presents a lucrative market with over 10.3 million two-wheel vehicles registered and significant demand for EVs. Energica's partnership with Estar & Co., Ltd. aims to enhance their presence in Asia-Pacific, bolstered by a new showroom in Kobe. In Australia, Energica collaborates with Australian Electric Motor Co. to expand offerings, as motorcycle sales in the region reached a 15-year high.

Ideanomics (NASDAQ: IDEX) announced the expansion of its subsidiary Energica with 24 certified dealers in the U.S., accounting for 33% of its product sales. This growth was facilitated by strategic third-party financing, allowing Energica to double production and introduce new models. The manufacturing facility can produce up to 2,000 units yearly, supporting plans for an additional 10 dealers in 2023. Energica has seen a 78% increase in motorcycle sales year-to-date, bolstered by a robust order backlog for its Experia model and supply contracts with fleet operators.

Ideanomics (IDEX) announced that it has received a 180-day extension from NASDAQ to comply with its minimum bid price requirement, extending the deadline to May 15, 2023. The company has secured $20 million in additional funding, with a potential follow-on of $20 million, aimed at enhancing its electric vehicle (EV) and charging business in the U.S. and EU. CEO Alf Poor highlighted the company's strong performance amid industry challenges, and the recent financing will support the expansion of Solectrac's dealer network and help accelerate growth in manufacturing and sales capabilities.

VIA Motors has partnered with EAVX to develop Class 2-5 electric work trucks, starting with a Class 2b delivery van. Utilizing VIA's proprietary VDRIVE skateboard technology, the prototype is expected in the first half of 2023. CEO Bob Purcell emphasizes the goal of creating functional and reliable electric vehicles with a lower total cost of ownership. This collaboration aims to enhance mid-mile delivery efficiency, showcasing both companies' commitment to innovation in electric vehicle technology.

Ideanomics (NASDAQ: IDEX) announced the expansion of its subsidiary Solectrac's dealer network with the addition of seven new certified dealers, supported by strategic financing from DLL. This partnership facilitates access to financing solutions for Solectrac dealers across the U.S., enhancing their ability to sell electric tractors. Solectrac is poised to capitalize on growing demand in specialty agriculture and related markets, with an assembly capacity of 360 tractors monthly and plans for new model introductions in 2023.

Ideanomics (IDEX) has announced a collaboration between its Energica Inside unit and Solectrac to develop a new generation of electric tractors. This partnership will focus on battery pack development, Vehicle Control Unit (VCU) design, and prototype assembly. Energica's advanced battery technology is anticipated to enhance runtime, allowing for more efficient farming operations. The tractors will also feature innovative designs and integrated performance data. Ideanomics expects to launch these tractors in 2023, which could significantly boost revenue through increased sales in the agriculture sector.