Ideanomics
 | |
| Formerly |
|
|---|---|
| Company type | Public |
| Nasdaq: IDEX Russell 2000 Index component | |
| Founded | 2004 (as China Broadband)[1]
2017 (as Ideanomics)[2] |
| Founders | Shane McMahon as China Broadband, Inc in 2004 Bruno Wu as Ideanomics, Inc. in 2017 |
| Headquarters | New York City |
Key people | Alf Poor (CEO) Shane McMahon (executive chairman) |
| Website | ideanomics |
Ideanomics, Inc. is a global electric vehicle company that is focused on driving the adoption of electric commercial 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]
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]
The company along with all of its subsidiaries filed for bankruptcy on December 4, 2024 in Delaware, with plans to sell all of its assets.[8][9]
History
[edit]The company was founded in 2004 by Shane McMahon who currently also serves as the chairman.[10] Alf Poor is the incumbent chief executive officer serving since February 2019.[11][12]
In October 2018, they purchased a building at $5.2M UConn campus in West Hartford to move their operations to.[13]
In June 2021, the company was included in the broad-market Russell 3000 Index.[14] In the same month, it also acquired US Hybrid, zero-emission vehicle manufacturer.[15]
In August 2021, it acquired Via Motors for US$630 million.[16] It has previously acquired US Hybrid, an electric powertrain components and fuel cell engines manufacturer; Solectrac, which is one of two electric tractor manufacturers in the United States; Wave, a wireless charging company.[17]
In March 2022, it acquired Italian electric motorcycle manufacturer Energica.[18]
In July 2024, it was delisted from Nasdaq for failure to meet the minimum bid price and market value of publicly held shares required by Nasdaq Listing Rules 5550(a)(2) and 5550(b)(2).[19]
In August 2024 a Patent Infringement lawsuit filed against IDEX/WAVE by WiTricity
Clients and major sales
[edit]- In February 2021, AVTA (Antelope Valley Transit Authority) bought 19 electric vans from Ideanomics.[20]
- In December 2021, subsidiary US Hybrid received a $5.5 million order from Global Environmental Products (GEP) to electrify street sweepers.[21]
References
[edit]- ^ "Ideanomics Inc". Retrieved February 17, 2021.
- ^ "Founder's Story". Ideanomics, Inc. Retrieved 2021-01-20.
- ^ "EDGAR Search Results". www.sec.gov.
- ^ Bellini, Martina (8 September 2021). "VIA Motors' Merger with Ideanomics".
- ^ "IDEX - Ideanomics Inc Company Profile - CNNMoney.com". money.cnn.com.
- ^ "Ideanomics Stock: A High-Risk EV Play (NASDAQ:IDEX) | Seeking Alpha". seekingalpha.com. 2022-01-18. Retrieved 2022-02-08.
- ^ "Ideanomics Inc. IDEX (U.S.: Nasdaq)". Wall Street Journal.
- ^ "IDEANOMICS, INC. Bankruptcy Filing". Bankruptcy Observer.
- ^ Knauth, Dietrich (December 4, 2024). "EV investor Ideanomics files for bankruptcy to sell assets". Reuters. Retrieved December 4, 2024.
- ^ "IDEX | Ideanomics Inc. Company Profile & Executives - WSJ". www.wsj.com.
- ^ "Alf Poor, Ideanomics Inc: Profile and Biography". Bloomberg.com.
- ^ Wilson, Winter (November 13, 2020). "Electric Tractors Can Revolutionize Agriculture". CleanTechnica.
- ^ Porter, Mikaela (10 October 2018). "Ideanomics Closes on $5.2 Million Purchase Of Former UConn Campus In West Hartford". courant.com. Retrieved 2022-02-08.
- ^ "Ideanomics up pre-market as it sets eyes on Russell 3000 Index | Seeking Alpha". seekingalpha.com.
- ^ "Zero-Emission Vehicle Manufacturer US Hybrid Is Acquired | Los Angeles Business Journal". Los Angeles Business Journal. 6 June 2021.
- ^ "Ideanomics to buy VIA Motors for nearly $630 mln". Reuters. August 30, 2021.
- ^ "Ideanomics to buy EV fleet maker Via Motors in $450M all-stock deal". TechCrunch. 2021-08-30.
- ^ "Ideanomics Finalizes Energica Motor Company Deal". March 28, 2022.
- ^ https://www.sec.gov/Archives/edgar/data/837852/000110465922035657/tm229766d1_ex99-1.htm [bare URL]
- ^ "AVTA buys electric vans from Ideanomics' US Hybrid". electrive.com. 2022-02-06. Retrieved 2022-02-08.
- ^ "Ideanomics subsidiary, US Hybrid bags $5.5M purchase order to electrify street sweepers | Seeking Alpha". seekingalpha.com. Retrieved 2022-02-08.
External links
[edit]- Business data for Ideanomics, Inc.: