InvestorNewsBreaks – Ideanomics Inc. (NASDAQ: IDEX) Subsidiary on Growth Track with Third-Party Financing
Nov 14, 2022
Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles, and its subsidiary, Solectrac, released two key announcements: Solectrac signed seven new certified dealers to add to its growing dealer network, and IDEX has obtained strategic financing to support dealer expansion. According to the announcement, IDEX signed a deal with global financial solutions provider DLL, which has agreed to serve as the company’s preferred financing partner in the United States. Currently, Solectrac has the capacity to assemble 360 tractors every month; Solectrac tractors are available for purchase at 57 locations across the United States, with the new dealers coming onboard in Colorado, Kansas, Alabama, California, Georgia and North Carolina. With DLL financing options now available, Solectrac dealers can offer installment and leasing programs that facilitate the sale of equipment to the end users. “Our ability to bring on a leading company like DLL as a partner to finance the growth of Solectrac is a validation of our brand and products,” says Ideanomics Mobility president Robin Mackie in the press release. “It shows that Ideanomics has succeeded in our mission to build Solectrac into a trusted company, underscored by the fact that Solectrac is selling units as fast as they can make them. With more strategic third-party capital, Solectrac can scale faster and get more electric tractors into the hands of customers.”
To view the full press release, visit https://ibn.fm/iUz98
About Ideanomics Inc.
Ideanomics is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles, charging and financing solutions under one roof, the company becomes the one-stop partner needed to simplify the transition to and operation of any EV fleet. For more information about the company, please visit www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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