NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDE
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Posted On: 05/13/2021 4:04:36 PM
NetworkNewsBreaks – Ideanomics Inc. (NASDAQ: IDEX) Enters Definitive Agreement to Acquire US Hybrid
Ideanomics (NASDAQ: IDEX) today announced its entry into a definitive agreement to acquire 100% of privately held US Hybrid in cash and stock consideration, the material terms of which are disclosed in the company’s related 8-K filing. The acquisition, subject to customary closing conditions, brings to Ideanomics the application of U.S.-built technology, for use in its own vehicles, and significantly extends the company’s capabilities in zero-emission transportation. “The acquisition of US Hybrid is a significant one for our EV efforts across the Ideanomics Mobility division and is the stepping-stone we were looking for to ensure we provide vehicles and technologies that can proudly allow us to state the meaningful components are Made in America,” said Alf Poor, Ideanomics CEO. “We will be bringing their technologies and capabilities into our own vehicles, as well as helping the broader industry leverage the outstanding technology the US Hybrid team has developed in Hybrid, EV and Hydrogen fuel cells. With decades of experience and credibility from deployments with reputable customers, US Hybrid will become an innovation engine for Ideanomics and provide strategic opportunities for clean technology applications across the zero-emissions transportation value chain, both now and in the future.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Ideanomics (NASDAQ: IDEX) today announced its entry into a definitive agreement to acquire 100% of privately held US Hybrid in cash and stock consideration, the material terms of which are disclosed in the company’s related 8-K filing. The acquisition, subject to customary closing conditions, brings to Ideanomics the application of U.S.-built technology, for use in its own vehicles, and significantly extends the company’s capabilities in zero-emission transportation. “The acquisition of US Hybrid is a significant one for our EV efforts across the Ideanomics Mobility division and is the stepping-stone we were looking for to ensure we provide vehicles and technologies that can proudly allow us to state the meaningful components are Made in America,” said Alf Poor, Ideanomics CEO. “We will be bringing their technologies and capabilities into our own vehicles, as well as helping the broader industry leverage the outstanding technology the US Hybrid team has developed in Hybrid, EV and Hydrogen fuel cells. With decades of experience and credibility from deployments with reputable customers, US Hybrid will become an innovation engine for Ideanomics and provide strategic opportunities for clean technology applications across the zero-emissions transportation value chain, both now and in the future.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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