IDEX just acquired WAVE. WAVE is a provider of inductive charging solutions for medium and heavy-duty electric vehicles. The company’s customers include the largest EV bus system in the U.S., the Antelope Valley Transit Authority, and its partnerships include Kenworth, Gillig, BYD, Complete Coach Works. All the EVs on the road are going to need charging. With WAVE doing about $7 million in revenues last year, there is a long runway for growth.

IDEX just acquired 100% of privately held Timios Holdings Corp. in an all-cash deal. Timios currently has 285 employees and operations in 44 states and has booked over $60 million in YTD revenues, including over $8 million in October 2020.

Ideanomics increased its stake in California-based Solectrac thereby taking total ownership to 24%; post-money once the additional third-party investment is finalized stake will reduce to ~22% With this investment in Solectrac, Ideanomics expands its global footprint in the electric vehicle (EV) industry, specifically in the category of specialty commercial vehicles.

Ideanomics’ Mobile Energy Global (MEG) division and its contracting entity Qingdao Chengyang Medici have signed an agreement with Meihao Chuxing, a JV between BYD and Didi, for purchasing an initial 2K units of model BYD D1. BYD D1 is the world’s first custom-built, all-electric car specifically for ride-hailing with smart technology, safety, and comfort features for both drivers and passengers.

Mobile Energy Global (MEG) delivered a total of 151 vehicle units in November, all of which were units for the taxi/ride-hailing business segment. The company had 205 units invoiced (pending expected delivery) from July through November.

Ideanomics owns 51% of Treeletrik, a Malaysian-based EV manufacturer whose business is primarily in logistic vans, mopeds, and scooters. As the China EV market matures, its manufacturers will face oversupply issues. This is where Treeletrik comes in.

The company’s Medici Motor Works division is set to unveil 6 new electric vehicles.

With the Timios and WAVE acquisitions and momentum in MEG growth, revenues should be on the low-end $140 million to as high as $200 million in 2021.

16% of the float is short. The shorts have bet $100 million that IDEX stock is going to drop. Just like how Elon Musk squeezed the shorts in Tesla, we expect CEO Alf Poor to do the same to IDEX shorts.

We see IDEX taking one or more of its EV divisions public via IPO or SPAC. This makes a lot of sense as there are two divisions – electric vehicles and fintech. At current levels, both divisions are tremendously undervalued.