Ideanomics

Ideanomics, Inc. (NASDAQ: IDEX) is a global electric vehicle company that is focuses on driving the adoption of commercial electric vehicles and associated sustainable energy consumption.[3][4][5] It is made up of 5 subsidiaries including: VIA Motors, Solectrac, Treeletrik, Wave, and US Hybrid.[6]

Ideanomics, Inc.
Formerly
  • Alpha Nutraceuticals Inc
  • Alpha Nutra Inc
  • China Broadband Inc
  • Gallery Rodeo International
  • Seven Stars Cloud Group, Inc.
  • Sierra Rockies Corp
  • Wecast Network, Inc.
  • You On Demand Holdings, Inc.
TypePublic
Nasdaq: IDEX
Russell 2000 Index component
Founded2004 (2004) by Shane McMahon as (China Broadband, Inc) [1]
2017 (2017) as (Ideanomics Inc, by Alf Poor)[2]
FoundersShane McMahon as China Broadband, Inc in 2004
Bruno Wu as Ideanomics, Inc. in 2017
HeadquartersNew York City
Key people
Alf Poor (CEO)
Shane McMahon (Executive Chairman)
Websiteideanomics.com

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.

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 in the United States.[7]

History

The company was founded in 2004 by Shane McMahon who currently also serves as the chairman.[8] Alf Poor is the incumbent chief executive officer serving since February 2019.[9][10]

In October 2018, they purchased a building at $5.2M UConn campus in West Hartford to move their operations to.[11]

In June 2021, the company was included in the broad-market Russell 3000 Index.[12] In the same month, it also acquired US Hybrid, zero-emission vehicle manufacturer.[13]

In August 2021, it acquired Via Motors for USD 630 million.[14] It has previously acquired US Hybrid, an electric powertrain components and fuel cell engines manufacturer; Solectrac, which is only electric tractor manufacturer in the United States; Wave, a wireless charging company.[15]

Clients and major sales
  • In February 2021, AVTA (Antelope Valley Transit Authority) bought 19 electric vans from Ideanomics.[16]
  • In December 2021, subsidiary US Hybrid received a $5.5 million order from Global Environmental Products (GEP) to electrify street sweepers.[17]

References
  1. "Ideanomics Inc". Retrieved February 17, 2021.
  2. "Founder's Story". Ideanomics, Inc. Retrieved 2021-01-20.
  3. "EDGAR Search Results". www.sec.gov.
  4. Bellini, Martina. "VIA Motors' Merger with Ideanomics".
  5. "IDEX - Ideanomics Inc Company Profile - CNNMoney.com". money.cnn.com.
  6. "Ideanomics Stock: A High-Risk EV Play (NASDAQ:IDEX) | Seeking Alpha". seekingalpha.com. 2022-01-18. Retrieved 2022-02-08.
  7. "Ideanomics Inc. IDEX (U.S.: Nasdaq)". Wall Street Journal.
  8. "IDEX | Ideanomics Inc. Company Profile & Executives - WSJ". www.wsj.com.
  9. "Alf Poor, Ideanomics Inc: Profile and Biography". Bloomberg.com.
  10. Wilson, Winter (November 13, 2020). "Electric Tractors Can Revolutionize Agriculture". CleanTechnica.
  11. Porter, Mikaela. "Ideanomics Closes on $5.2 Million Purchase Of Former UConn Campus In West Hartford". courant.com. Retrieved 2022-02-08.
  12. "Ideanomics up pre-market as it sets eyes on Russell 3000 Index | Seeking Alpha". seekingalpha.com.
  13. "Zero-Emission Vehicle Manufacturer US Hybrid Is Acquired | Los Angeles Business Journal". Los Angeles Business Journal.
  14. "Ideanomics to buy VIA Motors for nearly $630 mln". Reuters. August 30, 2021.
  15. "Ideanomics to buy EV fleet maker Via Motors in $450M all-stock deal". TechCrunch. 2021-08-30.
  16. "AVTA buys electric vans from Ideanomics' US Hybrid". electrive.com. 2022-02-06. Retrieved 2022-02-08.
  17. "Ideanomics subsidiary, US Hybrid bags $5.5M purchase order to electrify street sweepers | Seeking Alpha". seekingalpha.com. Retrieved 2022-02-08.
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