Ideanomics Announces Strategic Investment

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NEW YORK - eTradeWire -- NEW YORK, -- Ideanomics announced that it has made a strategic investment in Prettl Electronics Automotive, a business unit within the Prettl Group, a large German industrial company that manufactures and distributes components and systems for the automotive, energy, and electronics industries. The deal terms include a strategic investment of €7.5M (~$9M) for a 30% ownership stake.  Ideanomics will receive exclusive sales and distribution rights for PEA charging infrastructure products and solutions in North America and CEO Alf Poor will join PEA's Board of Directors.

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Prettl Electronics Automotive is a business unit of German family-owned electronics conglomerate Prettl Group

PEA has developed an innovative high-power EV charging infrastructure solution that is expected to be broadly available in 2023, following ongoing field testing and achievement of certification requirements.

Investment to be used to accelerate the development of charging infrastructure systems tailored for the U.S. & Canadian markets.

Source: David Joseph Marketing
Filed Under: Business, Investment

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