Another tractor manufacturer out of business?

[Jchonline]

Doesn’t sound good for Solectrac. Anyone have one of their machines?

 

[MoKelly]

Yep. Solectrac is 100% owned by Ideanomics which is listed on NASDAQ.

They are not exactly thriving. The entire entity is only worth $12 million.

 

[5030]

Oh well. Wonder how many 225 grand electric utility tractors JD has sold?

Not something I'd ever be slightly interested in... 'toaster tractor', 'toaster car', same deal.

 

[Jchonline]

Oh well. Wonder how many 225 grand electric utility tractors JD has sold?

Not something I'd ever be slightly interested in... 'toaster tractor', 'toaster car', same deal.

Construction equipment being used inside buildings has a battery powered use case. I’m not convinced with outdoor uses, and any tractor uses.

 

[jwmorris]

To have a successful business you need to make products people want and can use.

Ideanomics, Inc. (NASDAQ: IDEX) is a global electric vehicle company that is focused on driving the adoption of electric commercial vehicles and associated sustainable energy consumption.

Thats nice and a noble goal but people don't by goals, they buy a tractor to achieve them.

 

[CH4Ohio]

Ideanomics, Inc. (NASDAQ: IDEX) is a global electric vehicle company that is focused on driving the adoption of electric commercial vehicles and associated sustainable energy consumption.

Interesting that their mission statement uses the word "driving".

". . . focused on DRIVING the adoption of" EVs and "associated sustainable energy consumption".

Their mission was to PUSH people to use something they wouldn't otherwise use. And to embrace the much more expensive energy costs on the back end. I would expect a truly free market to leave them in the dust.

 

[MadJack]

Sounds to me like the 'Grant' money has run out!

 

[5030]

Sort of like the electric vehicle business. Automakers were all gung ho on EV's and found out not that many people wanted them. The EV market is pretty saturated as it is and with BYD coming here with their much cheaper Chinese EV's, that should put the icing on the cake.

Said before, I'd by a hybrid but never a pure battery powered vehicle. Living up here in the north, a battery powered vehicle just don't work for me. Same with an electric tractor. That 'going green stuff' don't play with me and never will.

What I find arcane is, countries like China and India are building coal fired power plants and care less about emissions while we 'embrace' the green stuff and keep getting farther and farther behind.

 

[5030]

Sounds to me like the 'Grant' money has run out!

Grant money equates to taxes you paid to the gummit that they have no compunction about pizzing away.

 

[MadJack]

Grant money equates to taxes you paid to the gummit that they have no compunction about pizzing away.

Kind of like that 'lectric bus company...

 

[5030]

You meant the ones that self combust when parked?

 

[Jchonline]

You meant the ones that self combust when parked?

Bankrupt EV bus-maker Proterra finds buyers for its business units was it Proterra? This was the big one that went bankrupt last year.

 

[tacticalturnip]

I'm not surprised and absolutely appreciate any hiccup in this mad electrification dash.

 

[EddieWalker]

I'm guessing their business model was similar to windmill farms. Get a lot of cash from the government, spend it on something that the government can brag about, then go out of business when nobody buys it.

 

[DarkBlack]

Yep. Solectrac is 100% owned by Ideanomics which is listed on NASDAQ.

They are not exactly thriving. The entire entity is only worth $12 million.

View attachment 854667

A 125:1 reverse stock split is a really bad sign. Run away…

 

[3 Horse Ranch]

Sort of like the electric vehicle business. Automakers were all gung ho on EV's and found out not that many people wanted them. The EV market is pretty saturated as it is and with BYD coming here with their much cheaper Chinese EV's, that should put the icing on the cake.

Said before, I'd by a hybrid but never a pure battery powered vehicle. Living up here in the north, a battery powered vehicle just don't work for me. Same with an electric tractor. That 'going green stuff' don't play with me and never will.

What I find arcane is, countries like China and India are building coal fired power plants and care less about emissions while we 'embrace' the green stuff and keep getting farther and farther behind.

Asia, China in particular, has tripled their output of greenhouse gases while the rest of the world has worked to reduce theirs in this century. It's not like clean technology didn't exist, rather China and Asia chose to go cheap and dirty.
Our solution to clean the atmosphere, buy "green" products from the dirtiest, most polluting part of the planet.
It's like quitting smoking and then moving next to an asbestos factory for our health.

 

[5030]

Bankrupt EV bus-maker Proterra finds buyers for its business units was it Proterra? This was the big one that went bankrupt last year.

I do believe that is one and the same.

Also interesting is that an 'electric tractor is far from a new and novel idea. The defunct 'Electrictrac' (think that was the name of it) made a big splash in the 60's and went belly up as well but they used flooded cell batteries to power them.

I'd like to find one and restore it just for kicks and grins. Be a good repository for old car batteries. Nice thing about them was, you could charge them from a standard 110 volt wall plug.

 

[Torvy]

Construction equipment being used inside buildings has a battery powered use case. I’m not convinced with outdoor uses, and any tractor uses.

I could see a niche market. SCUT for the 1 acre suburban lot. Gets 1-4 hours of light maintenance work per week. Especially for jurisdictions that mandate noise of fuel choices.

Probably not a big enough market to be your only business. MAYBE one of the big mfgs could break even on them as a side hustle. JD is expensive anyway, so prices wouldn't seem outrageous.

Biggest downside for all user types is the shelf life of batteries. Our EV SxS is perfect for our needs any many don't last past about 10 years anyway. People expect tractors to run 30+ years.

 

[5030]

The guy in the video now has a collectors item. Probably an expensive collectors item at that.

People in general fail to realize that we all live in an enclosed bubble (earth) so the Chinese and Indians spew their pollution and prevailing winds aloft bring their emissions to us (and everyone else).

it's all about cheap energy to fuel their always growing industrial complex so they can sell the world (and us) cheaper goods. Not to sound critical but that is the primary reason I'd never buy a Mahindra. Besides, my personal view is they look clunky. I wonder how their Roxor off road vehicle is doing. Haven't heard much about them lately.

 

[CloverKnollFarms]

The EV death spiral deepens. Apple also cancelled their EV car program this week.