Ideanomics, Inc. (NASDAQ: IDEX), a technology investment firm, recently announced that it has made a deal that would help it expand its next-generation vehicle portfolio. It was the driving force behind the IDEX shares rising 4.8 percent to $2.4 in the August 30 Trading.
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Ideanomics, Inc. (IDEX) plans to buy an entire VIA Motors International interest in the development of commercial electric vehicles, including transportation companies and lorries for the delivery of products to towns and suburbs. The transaction is $450 million and projected earnings are $180 million.
This is a great purchase for Ideanomics, Inc. (IDEX), which complements a wide range of investment in a wide range of prospective car technologies. VIA Motors is partnering in the development of self-driving short- and medium-haul powertrains. These lorries are the most demanded by firms in the logistics sector as delivering the “last mile” takes a lot of time and manpower that is currently not available.
VIA Motors is also equipped with its own power plant chassis. On its basis, trucks may be created to meet clients’ requirements while offering contemporary telematics, integrated diagnostics, and other ways to save operating expenses for the fleet of vehicles.
In all, one of the most successful acquisitions in Ideanomics, Inc. (IDEX) history might be the VIA Motors deal. The electric truck industry already has competition, but the global target market has only begun to expand and is thus far sufficiently vast for many competitors.
This acquisition of VIA Motors aligns with Ideanomics’ long-term strategy to become one of the leading players in the electric car market, which includes robots as well. The long-term nature of IDEX must be considered when choosing IDEX stock as an investment destination since the stock alternates between volatility and long-term sideways trends.