Ideanomics Secures Financing to Grow Solectrac Dealer Network

Nov 17, 2022

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Ideanomics, a global company focused on accelerating the commercial adoption of electric vehicles (EV), has announced its subsidiary Solectrac has added 7 more certified dealers to its dealer network. To enable dealer expansion, Ideanomics secured strategic financing from global financial solutions provider DLL.

Solectrac can assemble 360 tractors per month and are available at 57 locations across the United States. The newest Solectrac dealers are Taylor Implement Company (Colo. and Kan.), Haney Equipment and Foothills Tractor & Equipment (Ala.), Truck Tops USA and San Joaquin Tractor Co. (Calif.), Wade Tractor & Equipment (Ga.) and Best of Clinton Equipment (N.C.).

The combination of a national dealer network and industry-leading production capacity uniquely positions Solectrac to meet orders from large fleet operators. The company is targeting specialty agriculture, parks, municipalities and university market segments for direct sales.

DLL will serve as a preferred financing partner for Solectrac in the United States. Through financing solutions offered by DLL, dealers of Solectrac will now have access to installment and leasing programs that facilitate the sale of equipment to the end-use customer.

Solectrac offers the e25g in the under 40 PTO hp category. Solectrac electric tractors do everything equivalent to a diesel tractor except with zero pollution. In 2023, Ideanomics expects to begin assembly of the e75N tractor, as well as introduce new models to the market.

Source : Farm equipment

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