Ideanomics, a company that accelerates the commercial adoption of electric vehicles, announced its investment in InoBat Auto, a European-based premium battery technology and manufacturing company. The funding will support the completion of InoBat’s R&D center and pilot battery plant located in Voderady, Slovakia by the end of 2022.
In conjunction with the investment, Ideanomics and InoBat will also collaborate to develop, produce and distribute integrated battery pack solutions for the U.S. market. The collaboration is intended to accelerate Ideanomics subsidiaries’ continued growth and deliver potential revenue opportunities targeting other U.S. commercial EV fleet customers.
InoBat is actively pursuing plans to build several gigafactories on additional sites across Europe and other global locations through 2024 in order to support and serve the international market at scale.
