Ideanomics Expands Availability of Solectrac Electric Tractors in the United States with Seven New Dealer Partnerships | PR Newswire

NEW YORK, September 19, 2022 /PRNewswire/ — Ideonomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EVs), is pleased to announce that its subsidiary Selectrak continues the rapid expansion of the certified sales and dealer network. For the first time, climate-smart Solectrac tractors are available in Hawaii, Maine, North Carolina, Pennsylvania, Tennessee, Texasand West Virginia. The company also continues to strengthen its position in California with two added dealers. Customers can now find Solectrac tractors from coast to coast in the US at 38 locations.

“Our growth strategy is working. In just six months, we’ve seen more sales of Solectrac tractors than we did all of last year,” said Ideanomics Mobility president, Robin Mackie. “Of course, it’s not surprising. Solectrac makes the ultimate electric tractor – it’s powerful, quiet and emission-free. By expanding our dealer network, we are making it as easy as possible for customers to see, touch, test drive and ultimately own it.”

New dealer partners include Bacon Universal Co., Inc. (Hawaii), Bangor Tractors and Equipment (Maine), Beeler Tractor Co. (California), Bill’s Tractor and Equipment, LTD. (Texas), Cox Tractor Co., Inc. (Tennessee), N&S tractor (California), OPE of America, Inc. (NC), PowerPro hardware (Pa.), and Tractor Drivers (W.Va.). With the addition of these new dealers, Solectrac tractors are available at 16 dealers in 15 states. With its fast-growing dealer network, Solectrac was able to sell every tractor that rolled off the assembly line.

To support the growing number of dealers and growing customer base, Solectrac has developed the market’s first online TCO calculator called SolecSave. SolecSave gives customers a clear idea of ​​the total cost of ownership of an electric tractor compared to an internal combustion engine tractor and provides information on available incentives and grants for the purchase of an electric tractor. This tool is the latest example of how Ideanomics and its subsidiaries are providing customers with resources to navigate the complexities of fleet electrification, e.g. WareSmart for warehouse operators in Southern California.

Solectrac is developing several additional new tractor models and plans to introduce the first new model in 2023. Company recently moved to a new, larger facility, which will significantly increase its production and assembly capacity after commissioning and start-up, including a well-stocked spare parts warehouse and service training center. In addition, Solectrac has created a partnership with Nolan Manufacturing to support its growing demand on the East Coast.

Ideanomics solves the complexities of fleet electrification by bringing together high-performance electric vehicles, charging infrastructure and financing solutions under one roof. The company sees Solectrac electric tractors as a flagship solution for the fast-growing market of expensive off-road vehicles. Ideanomics is committed to supporting Solectrac’s growth, which includes exploring opportunities to implement technologies with Energymaker of the world’s best electric motorcycle, to the next generation of Solectrac tractors.

About ideology

Ideanomics is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. Bringing together vehicles, charging and financing solutions under one roof, we are the one-stop partner you need to simplify the transition and operation of any electric vehicle fleet. To keep up with Ideanomics, follow the company on social media @ideanomicshq or visit https://ideanomics.com.

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This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical fact, included herein are “forward-looking statements”. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intent to transform our business model into a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our petroleum and consumer electronics businesses, and possible future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet the requirements of our business; transforming our business model; fluctuations in our operating results; the strain on our personnel management, financial systems and other resources as our business grows; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC’s website at www.sec.gov. All forward-looking statements relating to the Company or persons acting on its behalf are fully qualified by these risk factors. The Company undertakes no obligation to update these forward-looking statements, except as required by securities laws.

Contacts:

Ideanomics, Inc.

Tony Sklarsenior vice president of investor relations

1441 Broadway, Suite 5116, New York, New York 10018

ir@ideanomics.com

Theodore Rolfvondenbaumen, Director of Communications

Trolfvondenbaumen@ideanomics.com

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