What happened Shares of Ideanomics (NASDAQ: IDEX) have jumped today, up by 12% as of 3:30 p.m. EDT, after the company said it invested in electric-tractor maker Solectrac. Ideanomics also scheduled its third-quarter earnings release. So what Ideanomics has acquired a 15% stake in Solectrac for $1.3 million, saying that the deal will expand its global footprint in the electric vehicle industry by giving it exposure to specialty commercial vehicles. It will also get a seat on Solectrac's board of directors. Image source: Ideanomics. The global agricultural tractor market is worth an estimated $75 billion, Ideanomics notes, with North America's portion expected to grow to $20 billion by 2023. Solectrac's electric tractors are positioned as an alternative to traditional diesel tractors, particularly for the segment of the market for vehicles with less than 40 horsepower. Now what Ideanomics has been growing its deliveries of commercial electric vehicles in China. The company said earlier this month that it had delivered 423 units in September, bringing total deliveries for the third quarter to 626. There are an additional 440 units that were invoiced in the third quarter and are pending delivery. Short-sellers have also targeted the company with allegations of fraud. The company is planning to announce third-quarter results after the market closes on Nov. 9. 10 stocks we like better than Ideanomics, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Ideanomics, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source