Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (“EV”), and its subsidiary, Energica, have secured third-party financing to expand the company’s dealership network. Currently, Energica has 24 certified dealers in the United States; the network of certified dealers accounts for 33% of the company’s product sales. Planned growth for the company includes a newly expanded manufacturing facility featuring state-of-the-art, semiautomated assembly lines, which will enable Energica to produce more than 2,000 units per year; the company currently manufactures four models: the Ego sportbike, the Eva Ribelle efighter, the EsseEsse9 retro style bike and the new Experia Green Tourer. Energica’s motorbikes are sold through international importers or subsidiaries and to individual Energica dealers; in areas where no dealers are available, customers can also purchase the bikes directly from the company. According to the announcement, the company plans to add another 10 certified U.S. dealers in 2023 as well as expand to additional markets in the western hemisphere. “This is a validation of our brand and products,” said Ideanomics Mobility president Robin Mackie in the press release. “In less than a year, Energica has doubled its production, introduced new models with a wider market appeal and secured its first fleet orders. With strategic third-party capital, this growth can continue even faster.”

To view the full press release, visit https://ibn.fm/mXNBg

About Ideanomics Inc.

Ideanomics is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles, charging and financing solutions under one roof, the company becomes the one-stop partner needed to simplify the transition to and operation of any EV fleet. For more information about the company, please visit www.Ideanomics.com.

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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