September 8, 2021 10:34:16
- Sustainability cultivator Ideanomics has reached an agreement with commercial EV vehicle manufacturer VIA Motors to acquire VIA in an all-stock transaction valued at $450 million
- The VIA acquisition will solidify Ideanomics’ position as a made-in-America brand focused on building an end-to-end commercial EV ecosystem
- Ideanomics has completed other M&A activity in recent months designed to establish sustainable solutions that reduce the harmful effects of pollutants on the earth’s climate, particularly involving wireless battery-charging technology for commercial fleets
- The acquisition will help VIA to focus on completing the manufacturing process, with vehicles expected to roll out by 2023
New York-based
Ideanomics (NASDAQ: IDEX) has been making a name for itself as a commercial electric vehicle (“EV”) industry innovator and on Aug. 30 the company announced an agreement it expects to be “transformative” in Ideanomics’ pursuit of providing end-to-end services for the commercial EV market.
Ideanomics’ planned 100 percent acquisition of Utah’s VIA Motors International, Inc. in an all-stock transaction is expected to grant Ideanomics a vehicle manufacturing element to complement its charging technologies for “an immediate leadership position in…
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