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The global E-vehicle company Ideanomics has increased its stake in e-Tractor Company Solectrac, Inc, which is based in California, the USA. The Ideanomics announced an additional investment of $1.3 million.

  • The Company announced that it acquired 14.7% of Solectrac, Inc. for the consideration of $1.3 million.
  • This recent investment increases Ideanomics ownership to 24%, which will reduce to approximately 22% post-money once the additional third-party investment is finalized.

The prominent deals and expansions by Ideanomics are featured below:

June 2020: The leading technology firm Ideanomics announced that it has entered into an agreement, to sell Grapevine Logic , Fintalk, and CommentsRadar, to Techconn Holding Group Co., Ltd.

June 2020: Ideanomics announced that its subsidiary, Mobile Energy Global (MEG) along with Beijing Silk Road Rainbow Group developed a new energy bus plan to help facilitate the sale of more than 2,000 EV buses in China through selecting manufacturers with the capability to fulfill multiple large-scale orders.

June 2020: The global financial services provider Ideanomics has entered into a 50/50 joint venture (JV) with Business Big Data PTE, Ltd./Seasail Ventures (BBD) to create an investment company focused on new infrastructure projects in China.

May 2020, Ideanomics, MEG division has announced an agreement with Beijing Xinneng Green Intelligent Network Technology Co., Ltd. (BXGI) to help finance the replacement of its urban fleet with electric vehicles (EVs) in China over the next five years, starting in 2020. The Group’s fleet operations consist of more than 100,000 city buses. Upon conversion to EVs, it is estimated that this fleet will require a significant charging port infrastructure to accommodate the energy demand to power its EV fleet operations.

April 2020, Ideanomics, is pleased to announce that the Qingdao City Construction Investment Group Limited (QCCIG) has entered into framework strategic cooperation agreement with Sun Seven Stars Investment Group Limited (SSSIG) to raise up to USD 7 Billion fund to finance investment projects in Qingdao and Shandong Province.

March 2020, Ideanomics, is pleased to announce as follow up to our partnership with the City of Qingdao and in conjunction with our MEG Group subsidiary, Qingdao Mobile New Energy Vehicle Sales Co. Ltd., activities of its flagship sales, support, and maintenance center in the City of Qingdao.

About Ideanomics
Ideanomics, headquartered in New York, the USA, focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services. The company has two division- electric vehicle division Mobile Energy Global (MEG), provides discounts on commercial electric vehicles purchase, EV batteries and electricity as well as financing and charging solutions and financial service division Ideanomics Capital includes DBOT ATS and Intelligenta which provide innovative financial services solutions powered by AI and blockchain.

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