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.
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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Tony Sklarsenior vice president of investor relations
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