Ideanomics (NASDAQ: IDEX) today announced its entry into a definitive agreement to acquire 100% of privately held US Hybrid in cash and stock consideration, the material terms of which are disclosed in the company’s related 8-K filing. The acquisition, subject to customary closing conditions, brings to Ideanomics the application of U.S.-built technology, for use in its own vehicles, and significantly extends the company’s capabilities in zero-emission transportation. “The acquisition of US Hybrid is a significant one for our EV efforts across the Ideanomics Mobility division and is the stepping-stone we were looking for to ensure we provide vehicles and technologies that can proudly allow us to state the meaningful components are Made in America,” said Alf Poor, Ideanomics CEO. “We will be bringing their technologies and capabilities into our own vehicles, as well as helping the broader industry leverage the outstanding technology the US Hybrid team has developed in Hybrid, EV and Hydrogen fuel cells. With decades of experience and credibility from deployments with reputable customers, US Hybrid will become an innovation engine for Ideanomics and provide strategic opportunities for clean technology applications across the zero-emissions transportation value chain, both now and in the future.”
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About Ideanomics Inc.
Ideanomics is a catalyst for disruption to those industries where improvements in sustainability, transparency and freedom of choice would have profound benefits on a global scale. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under its innovative sales-to-financing-to-charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility & Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and shareholders with the opportunity to participate in high-potential, growth industries. The company is headquartered in New York, NY, with offices in Beijing, Hangzhou and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia. For more information, 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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