Ideanomics Acquires EV Tractor Builder Solectrac For Undisclosed Sum

Loading...
Loading...
  • Ideanomics Inc IDEX had acquired premium zero-emission electric tractor manufacturer and distributor Solectrac Inc.
  • The financial terms of the transaction remain undisclosed.
  • Solectrac enhances Ideanomics' ecosystem of EV businesses with a premium offering in the rapidly growing agriculture sector on the cusp of EV adoption.
  • The Solectrac electric tractor line-up is fully scalable and market-ready to generate revenue in the U.S. with proven demand.
  • Ideanomics held $356 million in cash and equivalents as of Mar. 31, 2021.
  • Price action: IDEX shares traded lower by 1.59% at $3.09 in the premarket session on the last check Monday.
Posted In: M&ANewsPenny StocksSmall CapTechMediaBriefsElectric VehicleEVs
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...