Ideanomics

Ideanomics, Inc. is a bankrupt American electric-vehicle and clean-mobility technology company based in New York City. The company has operated a portfolio of EV-related businesses, including electric commercial vehicles, agricultural tractors, wireless charging, and electric powertrain and fuel-cell systems. On 4 December 2024, Ideanomics and several subsidiaries filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware with plans to sell substantially all assets. In January 2025, reported that Morgan Stanley asserted a $10 million transaction fee claim in the bankruptcy case.

History

The company traces its roots to 2004 as China Broadband Inc. Through a series of name changes and strategy shifts, the business was rebranded Ideanomics, Inc. in 2017 under entrepreneur Bruno Wu.
In October 2018 Ideanomics purchased the former University of Connecticut West Hartford campus for US$5.2 million, announcing plans to relocate certain operations to the site.
From 2020 to 2022 Ideanomics assembled a group of EV companies:

Solectrac : majority stake in 2020; full acquisition in 2021.
WAVE – Wireless Advanced Vehicle Electrification : acquired in January 2021.
US Hybrid : acquired in June 2021.
VIA Motors : Ideanomics agreed to acquire VIA in August 2021 and later closed the transaction in January 2023, according to company filings.
Energica Motor Company : 70% stake closed in March 2022.

In mid-2024 the company received Nasdaq non-compliance notices regarding minimum bid price and market value of publicly held shares.

Legal and regulatory matters

On 9 August 2024 the U.S. Securities and Exchange Commission announced settled fraud charges against Ideanomics, its then-executives, and board chair Bruno Wu, alleging the company misled investors about revenue, acquisitions and business relationships. The respondents agreed to cease-and-desist orders and civil penalties without admitting or denying the findings.
In July 2024 WiTricity filed a patent-infringement suit against Ideanomics subsidiary WAVE Charging over wireless-charging technology. Separately, WAVE brought claims against WiTricity alleging trade-secret misappropriation.

Bankruptcy and restructuring

Ideanomics and affiliates commenced Chapter 11 cases on 4 December 2024 in the District of Delaware, indicating an intent to market and sell assets to repay creditors. Court filings and subsequent reporting note that financial advisers and lenders asserted various claims during the proceedings, including a Morgan Stanley advisory fee claim reported in January 2025.