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The world of the global fintech company Ideanomics (NASDAQ: $IDEX) was a real rollercoaster this year. In the meantime, the storm has subsided and the company seems ready for a rise at the end of 2020. By doubling the follow-on investment with another $1.3 million, the company increased its stake in Solectrac by a total ownership of 24%. This will drop to 22% once the additional third-party investment has been completed. In summary, the collaboration with the California-based e-tractor manufacturer seems to be a nice bridge to the year 2021.

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What makes the news interesting is that Solectrac received an increased product and investment interest after the initial investment. It is interesting for shareholders to know that the e-tractors are already ready to conquer the global agricultural tractor industry. These are very positive signs that Ideanomics is showing, given that by October 22, 2020, the company had already acquired 14.7%. The result was visible for Ideanomics, because since the first announcement Solectrac has experienced an increase in product and investment demands. The increased number of investments reflects investment interests in Solectrac by ESG funds, which are suggested to be completed before the new calendar year. Finally, the second investment ensures that Ideanomics has sufficient ownership in Solectrac for its interest in the company to be recognized under US GAAP, the equity method for accounting purposes.

Above all, the agricultural tractor industry is a very potential market with an estimated value of $75 billion. The company Solectrac develops, assembles and distributes electric tractors for agriculture and utilities, which should make the diesel tractor a thing of the past. Using the sun, wind and other clean renewable energy sources, the company aims to pursue its mission of providing farmers with independence from the pollution, infrastructure and price volatility associated with fossil fuels.

Due to these developments, November seems to be the definitive turning point for IDEX-shares. Expectations are positive among analysts and the shares are said to rise further in December. Given the situation, Ideanomics should act optimally by trading only reliable emission-free vehicles so that the market gap will be closed. In the coming period we can discover whether the slogan “the future of agriculture” will actually be found within the operations and visions of Ideanomics and Solectrac.

Earlier this month, Ideanomics announced it will buy Timios Holdings for $40 million in cash and that it will integrate into the company’s fintech segment. The acquisition will significantly improve efficiency and transparency in the real estate and mortgage sector. Ideanomics’ main activity will be the distribution of commercial electric vehicles to industrial fleet operators in China.

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