Ideanomics, Inc. (NASDAQ: IDEX) is a global
electric vehicle company that is focused on driving the adoption of electric
commercial vehicle
A commercial vehicle is any type of motor vehicle used for transporting goods or paying passengers.
The United States defines a "commercial motor vehicle" as any self-propelled or towed vehicle used on a public highway in interstate commerce to t ...
s and associated
sustainable energy consumption. It is made up of 5 subsidiaries including:
VIA Motors
VIA Motors is an American electric vehicle development and manufacturing company founded in 2010. VIA Motors started out converting GM vehicles into plug-in hybrids (PHEV), but now produces fully electric commercial vehicles for fleet managers. ...
,
Solectrac
Solectrac is an American tractor manufacturer based in Santa Rosa, California. It manufactures electric tractors for agricultural uses. The tractors are made as a zero-emission alternative to diesel tractors and can be charged by renewable energy ...
, Treeletrik, Wave, and US Hybrid. Ideanomics is a CALSTART member, a national non-profit organization focused on accelerating clean transportation; CALSTART's expertise lies in providing early adopters with leadership, connections and funding to accelerate the deployment of game-changing technologies.
The company provides turn-key vehicle, finance, leasing, and energy management services for commercial fleet operators. Its Ideanomics Mobility division has a strong ‘Made in America’ theme, and boasts a market validated, and revenue producing, deployment of technologies and vehicles for high-growth commercial fleet segments such as last-mile and local delivery, wireless charging, Hydrogen fuel cells, and
Agritech
Agricultural technology or agrotechnology (abbreviated agtech, agritech, AgriTech, or agrotech) is the use of technology in agriculture, horticulture, and aquaculture with the aim of improving yield, efficiency, and profitability. Agricultural tec ...
.
The company's vehicle division, Ideanomics Mobility, is headed by Robin Mackie who serves as the chairman. The company is headquartered in
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
,
New York in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
.
History
The company was founded in 2004 by
Shane McMahon
Shane Brandon McMahon (; born January 15, 1970) is an American businessman and professional wrestler. He is best known for his tenure in WWE, where he was a wrestler, producer and minority owner. He is the founder and executive chairman of Idean ...
who currently also serves as the chairman. Alf Poor is the incumbent
chief executive officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...
serving since February 2019.
In October 2018, they purchased a building at $5.2M
UConn
The University of Connecticut (UConn) is a public land-grant research university in Storrs, Connecticut, a village in the town of Mansfield. The primary 4,400-acre (17.8 km2) campus is in Storrs, approximately a half hour's drive from ...
campus in
West Hartford
West Hartford is a town in Hartford County, Connecticut, United States, west of downtown Hartford. The population was 64,083 at the 2020 census.
The town's popular downtown area is colloquially known as "West Hartford Center," or simply "The ...
to move their operations to.
In June 2021, the company was included in the broad-market
Russell 3000 Index
The Russell 3000 Index is a capitalization-weighted stock market index that seeks to be a benchmark of the entire U.S stock market. It measures the performance of the 3,000 largest publicly held companies incorporated in America as measured by ...
. In the same month, it also acquired US Hybrid, zero-emission vehicle manufacturer.
In August 2021, it acquired Via Motors for USD 630 million. It has previously acquired US Hybrid, an
electric powertrain
An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes cha ...
components and fuel cell engines manufacturer;
Solectrac
Solectrac is an American tractor manufacturer based in Santa Rosa, California. It manufactures electric tractors for agricultural uses. The tractors are made as a zero-emission alternative to diesel tractors and can be charged by renewable energy ...
, which is one of two electric tractor manufacturers in the United States; Wave, a
wireless charging
Inductive charging (also known as wireless charging or cordless charging) is a type of wireless power transfer. It uses electromagnetic induction to provide electricity to portable devices. Inductive charging is also used in vehicles, power too ...
company.
In March 2022, it acquired Italian electric motorcycle manufacturer
Energica.
In October 2022, it claims is the largest assembly plant for
electric tractor Electric tractors are powered by electric vehicle batteries, or, in the case of plug-ins, by an electric power cable.
Advantages
Electric tractors offer several advantages over diesel tractors. An electric motor needs less maintenance than a die ...
s in North America. The plant in
Windsor, California
Windsor is an incorporated town in Sonoma County, California, United States. The town is 9 miles north of Santa Rosa and 63 miles north of San Francisco. The population was 26,801 as of the 2010 census. Windsor was once home to a waterslide p ...
, has the capacity to produce 4,100 electric tractors annually.
Tractors
e25 model is a compact electric tractor, with its 22 kWh battery.
In 2023, Ideanomics also plans to begin assembling the model e70N, a specially designed, narrow model purpose-built for handling and manoeuvrability on vineyards and farm operations. The N stands for narrow and includes a 52 kW all-wheel drive and a 60 kWh
LFP battery, to allow up to eight hours of operation, with the company also mentioning solar array options online. Lifting capacity is given at . The e70N’s swappable battery pack, allows even longer operation in busy seasons. The
Bay Area Air Quality Management District
The Bay Area Air Quality Management District (BAAQMD) is a public agency that regulates the stationary sources of air pollution in the nine counties of California's San Francisco Bay Area: Alameda, Contra Costa, Marin, Napa, San Francisco, Sa ...
’s Funding Agriculture Replacement Measures for Emission Reductions Demonstration Program (FARMER), provides up to 80 per cent of the cost for farmers to replace diesel tractors with less polluting alternatives.
Clients and major sales
* In February 2021,
AVTA (Antelope Valley Transit Authority) bought 19 electric vans from Ideanomics.
* In December 2021, subsidiary US Hybrid received a $5.5 million order from ''Global Environmental Products (GEP)'' to electrify street sweepers.
References
External links
*
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American companies established in 2004
2004 establishments in New York City
Electric vehicle manufacturers of the United_States
Electric utility vehicles
Electric tractors
Companies listed on the Nasdaq