Solectrac, a leader in the electric tractor industry and a wholly owned subsidiary of Ideanomics (NASDAQ: IDEX), has announced a strategic reorganization and shift in its business model. According to the update, the California-based distributor of electric tractors, recognized as an innovator in regenerative agriculture through its B Corp certification, is refocusing its efforts from expanding its dealer/distributor network to prioritizing direct-to-consumer sales and partnering with select dealers in key markets. Solectrac’s commitment to lead the transition to zero-emission regenerative agriculture and utility operations motivates the move intended to leverage government EV subsidy programs and cooperative purchasing agreements that incentivize electrification as part of the larger DTC strategy. “We are excited to shift Solectrac’s business model to drive a robust growth strategy and strengthen the connection to our customers in markets that are on the forefront of the electrification movement and beyond,” said Robin Mackie, Solectrac’s interim CEO, and Ideanomics COO. “By creating more opportunities to engage directly with our customers and expanding our participation in programs that support electrification, we can ensure that our electric tractors are not only more accessible but also backed by the excellent service and support that our customers deserve.”
To view the full press release, visit https://ibn.fm/3s9ac
About Ideanomics Inc.
Ideanomics is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation and financial services, Ideanomics provides solutions for the commercial world to commit to an EV future. For more information about the company, visit www.Ideanomics.com.
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