- Treeletrik, Ideanomics’ subsidiary, inked a $274 million three-year deal with two distributors to supply 200,000 e-motorbike units to Indonesia
- The deal will result in Treeletrik’s expansion, enabling Ideanomics to continue providing its shareholders with high-growth opportunities
- Indonesia, the third-largest motorcycle market in the world, is a promising market for e-motorbikes, as evidenced by the projected growth at a CAGR of ~21% from 2019 to 2025
The Indonesian electric motorbike market is expected to grow at a CAGR of 20.96% from 2019 to 2025, reaching $816.2 million from $364.4 million (https://ibn.fm/SBUHm) amid clamor around the high vehicular pollution and the need to reduce CO2 levels in the country. Suggestions point to the introduction of a sustainable mode of transport as the solution to these problems. Further, the Association of Southeast Asian Nations (“ASEAN”) region, of which Indonesia is part, is committed to reducing final energy consumption in the road transport sector by 2040.
As a manufacturer of 100% electric vehicle (“EV”) products, including motorbikes, this is welcome news for Malaysia-based Tree Technologies Sdn Bhd (“Treeletrik”), a portfolio company of Ideanomics Inc. (NASDAQ: IDEX). Recently, Treeletrik announced it had inked a…
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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