Ideanomics (IDEX) Stock Rises Before Market Open | What Caused This?

As of the last check, Ideanomics Inc. (IDEX) shares were up 7.49% to $0.36 following a significant order. In the past 50 days, the average daily volume of IDEX shares has been 4.62 million shares. The pre-hours volume was 1.37 million shares.

What order has the IDEX subsidiary won?

In conjunction with the upcoming G20 Summit in Bali, Indonesia, Ideanomics (IDEX) will supply 88 EsseEsse9+ motorcycles through its subsidiary Energica. With an estimated value of nearly $2 million, this is Energica’s largest order to date.

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The G20 delegates will be welcomed and escorted by Energica bikes when they arrive in Bali. Thus, they will have the opportunity to see zero-emission, high-performance vehicles in action for the first time. In all discussions surrounding climate change and transportation, delegate experiences are likely to stick with them.

All international government delegates attending the summit will be escorted by the Indonesian National Police (Poiri) on Energica motorcycles. As a result of its commitment to put 2 million electric vehicles on the road by 2025, Indonesia will be the first country in the Asia-Pacific region to operate an electric motorcycle fleet.

It is expected that the bikes will be delivered to the Indonesian police force by the end of November after Energica signed the agreement with UTOMOCORP, one of Indonesia’s leading vehicle retailers and distributors.

How IDEX has gone through it?

Indonesian police will use the most advanced electric motorcycle provided by UTOMOCOP as their primary vehicle. As part of UTOMOCORP’s commitment to providing quality and leading products, Energica has been tested for quality and technology. There will be more products, both for general and special needs, in the future from UTOMOCORP, and this is an initial phase.

With Ideanomics and Energica, a new motorcycle was introduced, Energica’s global dealer network and production capacity expanded, and Energica Inside improved its electric vehicle charging infrastructure.

The goal of IDEX since acquiring majority ownership of Energica in 2021 was to help grow their manufacturing and distribution capabilities. With Energica’s ability to meet such a large order of high-quality, high-performance electric motorcycles, Ideanomics is seeing its work together pay off.

What is IDEX doing to make a difference?

In order to solve fleet electrification’s complexity, Ideaanomics (IDEX) is bringing together high-performance electric vehicles, charging infrastructure, and financing solutions. The company intends to help Energica grow and develop new revenue streams by positioning it as a flagship vehicle in the two-wheeler market. As part of this, Energica will establish Treeletrik as a strategic sales and aftersales support partner for the ASEAN region.

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