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Ideanomics . Exhibit 99.1 Ideanomics in Transformative Deal , to Acquire VIA Motors Valued at Up to $ 630MM VIA designs and plans to manufacture commercial electric vehicles for the global fleet market , which is experiencing significant growth in its transformation to electric propulsion The addition of VIA Motors rounds out a full service offering for commercial fleet operators Highly complementary products extend Ideanomics ' market reach and promote collaborative development and marketing opportunities Base transaction price of $ 450MM with up to potential $ 180MM earnout component tied to future vehicle deliveries and customers NEW YORK , NY and Orem , UT - August 30 , 2021 -- PRNewswire -- Ideanomics ( NASDAQ : IDEX ) ( " Ideanomics " or the " Company " ) , a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption , today announced it has entered into an agreement to acquire VIA Motors International , Inc. ( “ VIA ” ) in an all - stock transaction for a 100 - percent ownership stake , subject to customary closing conditions , including Ideanomics ' shareholder approval . VIA Motors , headquartered in Orem , Utah , will manufacture electric commercial vehicles including Class 2 through Class 5 cargo vans , trucks , and buses . The company has deep experience in the vehicle electrification market and continues to develop business relationships with commercial fleets and distributors in the United States , 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 , " said 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 . Bob's proven executive leadership has helped establish VIA as a market disruptor and we are excited to welcome him and his team to the Ideanomics family . " " 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 . said Ideanomics Chief Executive Officer 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 , ” said 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 . ”