# Ideanomics to acquire US Hybrid for cash and stock

Ideanomics signed a definitive agreement to acquire 100% of US Hybrid, a provider of zero-emission powertrain components and fuel cells, for cash and stock consideration. The acquisition is subject to customary closing conditions.

- Type: Acquisition
- Announced: 2021-05-13
- Where: Torrance, California, United States
- Value: $50.0M
- Status: announced
- Products: zero-emission powertrain components, fuel cells, DC-DC converters
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Ideanomics](https://endata.com/companies/47343.md) (acquirer)
- [US Hybrid](https://endata.com/companies/55090.md) (target)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/ideanomics-signs-a-definitive-agreement-to-acquire-california-based-us-hybrid-301290753.html), 2021-05-13: "Ideanomics is pleased to announce it has signed a definitive agreement to acquire 100% of privately held US Hybrid in cash and stock consideration"
- [truckpartsandservice.com](https://www.truckpartsandservice.com/business/mergers-acquisitions/article/15065523/ideanomics-signs-definitive-agreement-to-acquire-us-hybrid), 2021-05-13: "The acquisition of US Hybrid is a significant one for our EV efforts across the Ideanomics Mobility division and is the stepping-stone we were looking for to ensure we provide vehicles and technologies that can proudly allow us to state the meaningful components are Made in America."
- [labusinessjournal.com](https://labusinessjournal.com/manufacturing/zero-emission-truck-maker-us-hybrid-acquired/), 2021-06-06: "We are excited to be joining the Ideanomics family as a synergistic addition to the Ideanomics ecosystem of EV businesses."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.