Ideanomics announces EV Experience Center and U.S. manufacturing facility in New Jersey

Ideanomics, a global company focused on accelerating the commercial adoption of electric vehicles, plans to unveil an EV Experience Center in New Jersey. The facility, expected to be operational by the end of 2022, will support product development and scalable production of new and existing products across its range of electrification solutions. The facility will be approximately 48,500 square feet, including over 4,000 square feet dedicated to showroom space. Ideanomics' facility is expected to bring between 75 and 100 jobs to the state of New Jersey in executive leadership, commercial development, energy services, engineering, supply chain, and logistics over the three years.

Ideanomics' operating companies Solectrac and WAVE are expanding their facilities in Windsor, California, and Salt Lake City, Utah respectively and the companies are growing personnel and manufacturing to meet the growing market demand for electric ag-tech and inductive charging.

Ideanomics has a wide range of products from Energica's proprietary technology in its electric motorcycles to Solectrac's e70N electric tractor, one of the World Ag Expo's Top 10 New Products and winner of the WINnovation Award at the WIN Expo. Ideanomics has strategically acquired more than $600 million worth of companies offering electrification solutions, making the Company an excellent source for commercial EV needs: offering vehicles, charging, and financing solutions.

The Experience Center
The Ideanomics Experience Center will be an immersive environment with individual activation zones showcasing Ideanomics' range of commercial electrification solutions, including WAVE, Solectrac, U.S. Hybrid, and Ideanomics' investments in Energica and PEA. The facility will also support assembly, engineering and storage across Ideanomics' operating companies' business and operational needs on the East Coast. It will also promote education and advocacy of electric and hydrogen-powered vehicles to commercial fleet operators.

"We are pleased to announce our first EV Experience Center in New Jersey, which will open by the end of 2022," said Alf Poor, Chief Executive Officer at Ideanomics. "The new facility will increase our ability to manufacture and showcase industry-leading products. As part of Ideanomics' continued commitment to accelerating commercial electrification, we are meeting the increasing market demand and the needs of our customers and operating companies by continuing to grow with them."

Simplifying the Financing
Ideanomics provides fleet operators a holistic approach to support the cost of transitioning from fossil fuels to Battery-Electric Vehicles (BEVs) and Fuel Cell Electric Vehicles (FCEVs). Ideanomics' Vehicles as a Service (VaaS) and Charging as a Service (CaaS) solutions offer fleet operators the necessary financial and management support to migrate from traditional CapEx models to an OpEx model confidently. These financing solutions release capital to support traditional business growth and ensure the simplicity, predictability, and certainty of a monthly subscription, which covers all aspects of EV fleet operations.

Ideanomics' Future
The Company's EV and technology acquisitions during 2021 have created the foundation to develop a vertically integrated commercial EV company. By combining leading EV technologies, products, knowledge, and capabilities across the Company's solution verticals, Ideanomics can rapidly develop unique sustainable mobility solutions in both the off-highway and on-highway commercial vehicle markets. These include the provision of vehicles, energy systems, charging infrastructure, and associated financing programs. This provides the Company with the capability to assist commercial fleet operators of Internal Combustion Engine (ICE) vehicles in transitioning to BEVs and FCEVs with confidence while meeting their zero-emission objectives.

By choosing the holistic approach from Ideanomics Mobility, the commercial fleet operator benefits from a single-source solution that supports all aspects of the transition to EV, from early-stage requirements analysis, charging infrastructure specification and installation, vehicle procurement and deployment, training, operationalization management services and financing.