Ideanomics, Inc Reports Q3 2022 Financial Results.

NEW YORK: Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), a global company focused on accelerating the commercial adoption of electric vehicles, announced today its third quarter 2022 operating results for the period ended September 30, 2022.

"In the third quarter Ideanomics showed the value and strength of our growing EV businesses, highlighted by Energica's deal to provide motorcycles for the Indonesian National Police, which will be utilized at the upcoming G20 summit. Solectrac, like Energica, is also experiencing demand based growth and has expanded its manufacturing capacity resulting in a significant increase in unit production, while US Hybrid is on track towards profitability by the end of 2023. Furthermore, our WAVE business secured its first fleet customer in Q3. We look forward to continuing to demonstrate how our differentiated products and technologies drive revenue growth across our EV brands," said Alf Poor, CEO of Ideanomics.

Selected Business Updates and Highlights

Energica announced that it will provide 88 motorcycles for the upcoming G20 Summit in Bali, Indonesia.

US Hybrid announced it is supplying Global Environmental Products with its proprietary electric and hybrid electric propulsion kits for use in the construction of 62 zero emission street sweepers

Ideanomics announced eleven new dealer partnerships to enhance the availability of Solectrac electric tractors across the United States

Solectrac partners with Nolan Manufacturing to produce Solectrac's e25 electric tractors with additional models slated for future production

Ideanomics announced an agreement with ABC Companies, a leading provider of motorcoach, transit and specialty passenger transport equipment in the USA and Canada allowing them to become...