Ideanomics, a company focused on driving the adoption of commercial electric vehicles (EV) and associated energy consumption, is acquiring VIA Motors International Inc.
VIA Motors, headquartered in Orem, Utah, will manufacture commercial EVs, including Class 2 through Class 5 cargo vans, trucks and buses. The company continues to develop business relationships with commercial fleets and distributors in the U.S., Canada and Mexico. VIA Motors is also working with an autonomous technology company to provide electrification of autonomous trucks for short-haul and mid-mile delivery.
VIA utilizes a scalable and flexible electric skateboard platform for Class 2, 3, 4 and 5 vans and trucks, along with a modular body approach that enables a capital-light single design for its platforms, drive systems and vehicle models. VIA’s intellectual property portfolio extends to proprietary software and control systems featuring embedded diagnostics and telematics to significantly improve fleet operating costs, uptime and routing for superior life cycle economics.
“This is a transformative deal for Ideanomics,” says Shane McMahon, executive chairman of Ideanomics. “As we continue to grow into a leader in the commercial EV space, VIA Motors adds valuable brand cachet and an exceptional manufacturing discipline to our portfolio.”
“This acquisition is aligned with our long-term strategy and provides us an immediate leadership position in a rapidly growing market and yet another path to accelerate EV adoption and Ideanomics’ market share,” states Ideanomics CEO Alf Poor. “It also provides Ideanomics a full OEM manufacturing capability which are synergistic to our other operating businesses.”
“VIA Motors is changing last and mid-mile delivery with innovative electric commercial vehicles that fleets can afford,” adds Bob Purcell, CEO of VIA Motors. “Combining VIA with Ideanomics facilitates significant synergies, while Ideanomics’ financial and personnel resources provide the backing we need to pursue an array of exciting growth prospects we have identified. All of us at VIA Motors are delighted to join the team to usher in the new era of electric commercial vehicles and further the long-term growth strategy at Ideanomics.”
