Ricardo technical due diligence paves way for Electric Vehicle (EV) manufacturer investment

Ricardo technical due diligence paves way for Electric Vehicle (EV) manufacturer investment
08 September 2021

Utilising its expertise in assisting mergers and acquisitions, Ricardo Strategic Consulting (RSC) has facilitated financial technology company Ideanomics’ acquisition of VIA Motors.

Ideanomics, a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, announced it has entered into an agreement to acquire VIA Motors International, Inc. in an all-stock deal valuing the company at up to $630 million.
 
Ricardo’s strategic consulting (RSC) US team played an important role helping Ideanomics to conduct a comprehensive assessment to evaluate and compare vehicle architecture, materials integration strategies, battery chemistries, safety, integration strategies, manufacturing processes and TCO to achieve an understanding of the vehicles defined intellectual property as part to the due diligence process.
 
Jeff Nichols, Vice President for RSC in North America, said: “Ricardo’s in-depth knowledge of electric vehicle design, technology and manufacturing concepts, as well as through-life total cost of ownership, meant we were ideally placed to provide valuable technical assessments to those investing in technology and innovation-led markets.”
 
The comprehensive technical assessment and report on the proposed investment in VIA Motors was provided to Ideanomics, supporting the critical investment, and was integral to the execution of Ideanomics’ successful investment in VIA Motors.