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Ideanomics Inc. (NASDAQ: IDEX) Should Benefit from Positive Outlooks for Both the EV and Fintech Markets

  • Projections by various research firms indicate that the electric vehicle (“EV”) and fintech markets will grow through the coming years
  • The EV industry will witness a steady increase in the penetration of EVs in three key markets in which IDEX, through its Ideanomics Mobility division, operates
  • The global fintech industry is projected to grow at a 23.58% CAGR from 2021 to 2025, while the US fintech market is estimated to witness a CAGR of 8.6% from 2019 through to 2024, and the Ideanomics Capital division focuses on fintech solutions

A recent electric vehicle (“EV”) market publication by J.P. Morgan (NYSE: JPM) Global Research showed that EV penetration was gradually growing in North America, Europe, and China. The report projected that the penetration in the North American market would increase to 4% in 2020, up from 3% in 2019. In comparison, the European and Chinese markets were forecasted to witness a more rapid growth, fueled by an enabling regulatory environment, higher spending power and the prospects of a future that merges autonomous driving with green vehicles.

The Chinese EV industry is currently in the acceleration stage, which started in 2020 and is expected to last until 2025, when the EV penetration is likely to cap at 20%, up from 5% in 2019. In Europe, five countries, namely the UK, Spain, Italy, Germany and France, dominate the…

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NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX

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