Ideanomics Completes Acquisition of VIA Motors

Ideanomics  announced that it has completed its acquisition of VIA Motors (VIA), according to the company's news release.

"Together, Ideanomics and VIA will introduce a cost-efficient, integrated EV and charging solution for commercial fleets, which has been sorely lacking in the market," said Alf Poor, CEO of Ideanomics. "Ideanomics will help VIA move swiftly to ramp up production of their VTRUX portfolio of class 2 to 5 trucks, vans, and proprietary skateboards, and leverage Ideanomics' turnkey charging and financing solutions to give fleet operators a better way to own and operate VIA electric work trucks faster, easier and more affordably."  

VIA's value is rooted in its VDRIVE electric skateboard and VTRUX modular vehicle portfolio. VIA will offer a full range of fit-for-purpose configurations with its chassis cab including last-mile delivery vans, box and stake trucks, school buses, and shuttles.

BloombergNEF projects that more than 1 million battery-electric light and medium commercial vehicles will be on the road in the U.S. by 2030.

"Closing this transaction marks a great day for all of us. VIA Motors is changing last and mid-mile delivery with innovative and affordable electric commercial vehicles, which we can do even better by leveraging Ideanomics's charging solutions, and financing," said Bob Purcell, CEO of VIA Motors. "Ideanomics will provide the resources we need to commence production and deliver great products to our customers."

VIA will join Ideanomics Mobility, one of the company's three strategic verticals.

"VIA Motors is one of several EV companies Ideanomics has acquired in recent years. As part of our journey to become the leading partner for electrifying commercial fleets, Ideanomics targeted undervalued EV and charging companies with strong management teams, differentiated products and technology, and the potential for significant revenue generation," said Shane McMahon, Ideanomics executive chairman.