Ideanomics Acquires 100% of US E Tractor Maker Solectrac
PrAtlas/22594856

NEW YORK - PrAtlas -- W YORK, Ideanomics  is pleased to announce it has fully acquired Solectrac Inc., a California-based manufacturer, and distributor of premium zero-emission electric tractors that use clean renewable sources of energy, furthering the mission to reduce commercial fleet greenhouse gas emissions.

Ideanomics will support Solectrac across various business functions providing operational confidence to scale and become established as a global leader and supplier of clean agricultural equipment. Solectrac has a significant head start in the electric tractor market in North America with limited competition and aligns with Ideanomics' commitments to ESG initiatives. Those commitments include accelerating the adoption of zero-emission commercial EVs, transparency, accountability, and environmental sustainability.

More on PrAtlas

• Cover Girl Finalist Teisha Mechetti Questions Legitimacy of Inked Originals Competition, Demands Transparency
• Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations
• AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
• Stuck Doing Math or Figuring Out Life's Numbers? Calculator.now Makes It Stupidly Simple
• Colbert Packaging Announces WBENC Recognition

Solectrac enhances Ideanomics' ecosystem of EV businesses with a premium offering in the rapidly growing agriculture sector that is on the cusp of EV adoption. The Solectrac electric tractor lineup is fully scalable and market-ready to generate revenue in the US with proven demand. The use of proceeds from the deal will allow Solectrac to build up inventory, improve negotiating power, strengthen and diversify the supply chain, increase production capacity in the US, hire additional management and staff, and fuel further sales and marketing initiatives.

"The acquisition of Solectrac is perfectly aligned with our EV and Mobility initiatives," said Alf Poor, Ideanomics CEO. "EV tractors have proven to be superior to their diesel counterparts not only when it comes to torque and overall performance, but also when you consider operating costs, reliability, and the positive impact they have on the environment. They are also an underserved part of the market when it comes to EV initiatives. For those reasons, we are excited to bring Steve Heckeroth and the Solectrac team into the Ideanomics family. With farmers and business operators eager to transition from diesel to sustainable alternatives, we intend to make Solectrac the reliable, go-to brand not just here in North America, but across the globe."

More on PrAtlas

• DivX Empowers Media Enthusiasts with Free Expert Guides for Advanced MP4 Management
• Assent Expands Executive Team to Accelerate Global Growth & Innovation
• The World's Largest Green Economic Revolution Emerges as Nature, Tech, and Finance Converge
• Vinnetwork Unveils Decentralized AI Platform with Vinnetwork(VIN) Token to Challenge Tech Giants' Data Monopoly
• Centennial Flyers to Become Colorado's First Launch Customer for All-Electric B23 Energic Aircraft

About Solectrac

Solectrac, Inc., located in Northern California, has developed 100 percent battery-powered, all-electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean renewable sources of energy. Solectrac's mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.

https://solectrac.com/

https://ideanomics.com/