NEW YORK, Oct. 25, 2022 /PRNewswire/ -- Ideanomics (Nasdaq: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), is strengthening its position as a leading commercial electric vehicle and charging OEM by establishing in-house digital and data technology capabilities. Ideanomics Digital will provide a cost-efficient, standardized process to develop and deploy advanced digital solutions across the enterprise, as well as provide a new revenue stream.
"Electric vehicles and charging infrastructure generate vast streams of high-value data," says Nigel Walker, Vice President for Ideanomics Digital. "We are developing cutting-edge solutions that enable our customers to realize the full value of this data - from using predictive analytics to prevent small problems from becoming big issues to using telematic data to enhance operational performance, to using sustainability data to visualize ESG and climate impact."
Ideanomics has also established a three-year partnership with Google Cloud. Under the terms of the agreement, Ideanomics will host its technology platform on Google Cloud's advanced, scalable, and secure infrastructure, leveraging the AI and security features Google Cloud extends to its partners.
Beyond the technical support, this partnership will raise Ideanomics' profile as a leading electric mobility and sustainability solutions provider, while Ideanomics products will support Google Cloud's continued focus on sustainability.
"Electrification is a revolution. As the adoption of electric vehicles increases, so too will the need for solutions that simplify the transition and operation of EV fleets," said Urs Hölzle, SVP Infrastructure, Google Cloud. "Through this partnership, Google Cloud will support Ideanomics with our secure, flexible, and global cloud infrastructure so it can provide customers with the solutions they need to successfully operate integrated EV fleets."
Ideanomics Digital is already collaborating with Ideanomics Energy to develop its energy cloud platform. Built on Google Cloud, the platform will leverage Google Cloud's advanced AI functionality to collect and analyze telematics from all Ideanomics products as well as third-party EVs and charging infrastructure. Google Cloud's superior AI and filtering tools enable better security and further scalability of the platform. This technology-neutral approach is a first for the industry, giving fleet operators a single, unified view of their entire EV value chain regardless of make or model.
Earlier, Ideanomics Digital developed and launched WareSmart, a tool to help Southern California warehouse operators plan and implement clean fleet technology to comply with local regulations. Looking ahead, Ideanomics Digital has a strong roadmap of exciting projects under development. Ideanomics Digital's technology portfolio includes a secure, zero-trust, data collaboration platform marketed to highly regulated industries. Ideanomics Digital is leveraging its digital security to create solutions to protect data for all Ideanomics vehicles and charging infrastructure.
Ideanomics is solving the complexity of fleet electrification by bringing together high-performance electric vehicles, charging infrastructure and financing solutions under one roof. Through its three verticals, Mobility, Energy and Capital, the company provides turnkey commercial electrification solutions for customers, no matter where they are on their electrification journey.
Ideanomics is a global group with a simple mission: accelerating the commercial adoption of electric vehicles. By bringing together vehicles, charging and financing solutions under one roof, we are the one-stop partner needed to simplify the transition to and operation of any EV fleet. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.
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Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected timing for the filing of the Form 10-K, the Company's ability to regain compliance with the Nasdaq requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions that involve known and unknown risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to the failure of the Company to file the Form 10-K on its expected timeline and other risk factors discussed from time to time in the Company's filings with the SEC. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, without limitation, the Company's most recent Form 10-K and Form 10-Q. The Company expressly disclaims any intent or obligation to update these forward-looking statements other than as required by law.
Tony Sklar, SVP of Investor Relations
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Theodore Rolfvondenbaumen, Communications Director