EV and Fintech Convergences with Innovative Disruptions, A New Era Unfolds in the World's Economy


(MENAFN- Newsfile Corp) EV and Fintech Convergences with Innovative Disruptions, A New Era Unfolds in the World's Economy

Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - February 16, 2021) - Investorideas.com, a global news source and leading investor resource covering renewable energy and fintech stocks, presents a two sector snapshot featuring Ideanomics (NASDAQ: IDEX), looking at how innovative companies are blending EV and fintech technology including cryptocurrency, to lead investors and consumers into a new era in the 21st century.

Business Today reported , "The global sales of EVs in 2020 increased by 39 per cent year on year to 3.1 million units, where the total passenger car market declined 14 per cent. Research firm Canalys forecasts the number to climb in the coming years with 30 million EVs to be sold in 2028. EVs are also expected to represent nearly half of all passenger cars sold globally by 2030."

Finances Online reported that in 2019, 64% of consumers have used two or more fintech services or platforms.

Read the full article on Investorideas.com

Creating a blueprint for this new blending of technologies, Ideanomics (NASDAQ: IDEX) is focused on the convergence of financial services and industries experiencing technological disruption and with its Mobility and Capital divisions . These divisions are operative service providers with Ideanomics Mobility facilitating the adoption of electric vehicles with commercial fleet operators with procurement, batteries, insurance, rebates, and lease financing, while Ideanomics Capital focuses on disruptive fintech solutions for the financial services industry.

According to a recent article in finsmes.com, "Specialists are expecting Fintech to reshape legacy-dominated financial services and open doors to many new fields. And the auto finance industry is probably going to be the next major thing in Fintech. "

Continuing with its growth by acquisition strategy Ideanomics recently completed an acquisition of U.S.- based Timios Holdings , a leading fintech property title and settlement solutions provider.

Timios has been improving the real estate transaction experience for buyers, sellers and professionals since 2008 and currently has 285 employees and operates in 44 states and has booked over $68 million in revenues in 2020.

Ideanomics' has diversified its global footprint in a number of different countries. For instance, Ideanomics recently increased its ownership stake in Solectrac a California company which designs battery-powered tractors for the agriculture industry.

And in China, Ideanomics signed an agreement to purchase 2,000 BYD's D1 model electric ride-hailing (like Lift & Uber) vehicles. (BYD is China's #1 EV manufacturer)

Furthermore, Ideanomics is the majority owner of Treeletrik an approved electric bike and specialty vehicle manufacturer and distributor located in Malaysia which hired a former Volkswagen Executive as CFO.

Back in the USA Ideanomics Mobility also acquired 100% ownership of revenue generating WAVE a Utah based wireless charging company.

As Ideanomics prepares to launch its Medici Motor Works EV trucks and specialty vehicles into North America market President Biden Announced Plans to Update Federal Vehicle Fleet with US-made EVs

Ideanomics Inc Medici Motor Works Video

World renowned Tesla, Inc., a tech company at heart, is the current global leader in electric vehicles in January reported, "In 2020, we produced and delivered half a million vehicles, in line with our most recent guidance. In addition, Model Y production in Shanghai has begun, with deliveries expected to begin shortly."

Tesla, according to its website, "Also offers leasing and/or loan financing arrangements for our vehicles in certain jurisdictions in North America, Europe and Asia through various financial institutions."

Always an innovator and ahead of the curve, Tesla recently turned heads with headlines that it had entered into the cryptocurrency market by purchasing $1.5 Billion and announcing in their 10K that it will "begin accepting bitcoin as a form of payment for our products in the near future."

NIO Limited, a pioneer in China's premium smart electric vehicle market, provided its January 2021 delivery results.

From the News: NIO delivered 7,225 vehicles in January 2021, a new monthly record representing a strong 352.1% year-over-year growth. The deliveries consisted of 1,660 ES8s, the Company's 6-seater and 7-seater flagship premium smart electric SUV, 2,720 ES6s, the Company's 5-seater high-performance premium smart electric SUV, and 2,845 EC6s, the Company's 5-seater premium electric coupe SUV. As of January 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 82,866 vehicles.

The Company also has plans to expand and go global in the second half of this year.

The market is already speculating if NIO will buy Bitcoin with headlines coming out -

Will NIO Follow in Tesla's Footsteps and Buy Bitcoin ?

You can't mention tech, fintech and electric cars without the future of the Apple Car. From their site: "Perhaps Apple's worst kept secret, the "Apple Car" is being developed for a 2024 or later release. Rumors speculate that it will be a fully featured self-driving electric vehicle that will compete with Tesla and other EVs. Apple could partner with other popular manufacturers like Hyundai or BMW, or seek another option."

The street has been talking how Apple is poised to be part of the crypto revolution. RBC Capital Markets, in a report says "Apple's install base is 1.5 billion, and even if we assume only 200 million users would transact, this is 6.66x larger than Square," according to the report. "Therefore, the potential revenue opportunity would be in excess of $40 billion a year (15% incremental top-line opportunity)."

News broke on Friday, February 12th that BitPay, the world's largest provider of Bitcoin and cryptocurrency payment services announced that US cardholders of the BitPay Prepaid Mastercard can add their card to Apple Wallet™ and spend with Apple Pay . With Apple Pay , BitPay cardholders can make secure purchases in stores, with apps and online. In addition, customers waiting on delivery of their plastic card can add their virtual card to Apple Wallet via the BitPay Wallet app and can start spending immediately. Support for Google Pay and Samsung Pay is planned for later this quarter.

The industry is witnessing this evolution at a rapid speed and investors are seeing some of the biggest gains in a short period of time in the cleantech space. With President Biden's new initiatives and mandates for lower emissions, and global consumers growing demand for EV's, the addition of innovative fintech will help accelerate future growth.

For investors following renewable energy and EV stocks, visit the directory of publicly traded stocks

Visit the Cleantech and Climate Change Podcast page at Investorideas.com

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EV and Fintech Convergences with Innovative Disruptions, A New Era Unfolds in the World

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