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Ideanomics Gains As Subsidiary Secures Contracts Worth $6M

Ideanomics Inc (NASDAQ:IDEX) subsidiary US Hybrid has secured two large follow-on orders for electric propulsion systems. The two orders are valued at…
byShivani Kumaresan
May 8, 2023
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  • Ideanomics Inc (NASDAQ:IDEX) subsidiary US Hybrid has secured two large follow-on orders for electric propulsion systems. The two orders are valued at more than $6 million.
  • The propulsion systems supplied will be used in Department of Defense projects and power specialty vehicles.
  • “Across the country, US Hybrid’s zero-emission, made-in-America electric and fuel cell propulsion systems are powering buses, street sweepers, port vehicles and equipment and Department of Defense projects,” said Richard Woods, VP and General Manager of US Hybrid.
  • “With 24 years of industry experience, the US Hybrid continues to show that we have the right mix of people and technology to get the job done for our customers.” 
  • Price Action: IDEX shares are trading higher by 18.5% at $0.0505 on the last check Monday.
 
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