Ideanomics Inc. (NASDAQ: IDEX) Completes the Acquisition of US Hybrid Marking Entry into Burgeoning EV Powertrain Market

• Ideanomics completed the acquisition of US Hybrid, a manufacturer and distributor of electric powertrain parts and fuel cell engines for medium and heavy-duty vehicles
• IDEX paid an aggregate purchase price of $50 million in cash and stock considerations
• The acquisition marked IDEX’s entry into the burgeoning EV powertrain market, which is expected to grow at a CAGR of 16% from 2020 to 2027
• The growth is due to several favorable factors that also bode well for the operations of IDEX and US Hybrid
• Ideanomics also announced that US Hybrid had received orders from Global Environment Products (“GEP”) for a fleet of all-electric street sweepers

Ideanomics (NASDAQ: IDEX) entered 2021 with the expectation that it would be yet another growth year. The company, which started the year by completing the acquisition of Wireless Advanced Vehicle Electrification (“WAVE”) and Timios, continued seeking new investments and acquisitions in revenue-based opportunities that would complement its existing operations segmented into two divisions – Ideanomics Mobility, dealing with electric vehicle (“EV”) business, and Ideanomics Capital, focusing on fintech. Early this month, Ideanomics added yet another company to its growing list of wholly owned subsidiaries when it completed the acquisition of 100% of privately held US Hybrid, a manufacturer and seller of… Read More>> NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX About Green Car Stocks Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge. To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only) For more information, please visit https://www.GreenCarStocks.com Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer Green Car Stocks San Francisco, California www.GreenCarStocks.com 415.949.5050 Office [email protected] Green Car Stocks is part of the InvestorBrandNetwork.