August 18, 2021 11:09:34
- Commercial EV Company Ideanomics Inc. recently completed an investment agreement that will grant it a 30 percent ownership stake in Germany’s Prettl Electronics Automotive (“PEA”)
- PEA is testing an innovative high-power EV charging infrastructure solution it has developed and expects to market in 2023, strengthening Ideanomics’ efforts to fulfill its EV strategy
- The company also recently named a new executive chairman of the board and a new vice chairman of the board who will help it scale its synergistic businesses
New York-based commercial electric vehicle company
Ideanomics (NASDAQ: IDEX) continues advancing its focus on the EV market as a solution to concerns about energy consumption and living standards worldwide. In June the company completed its $65 million acquisition of US Hybrid and on Aug. 2 Ideanomics announced its investment in Germany’s Prettl Electronics Automotive (“PEA”).
Prettl Electronics Automotive is part of an industrial company operation that manufactures and distributes components and systems for the automotive, energy, and electronics industries. Ideanomics’ strategic investment of €7.5 million (about $9 million) grants…
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