InvestorNewsBreaks – Ideanomics Inc. (NASDAQ: IDEX) Subsidiary Lands Follow-On Contracts Reaching $6M-Plus
Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles, and its subsidiary US Hybrid, have announced two large follow-on orders. The orders are for electric-propulsion systems that will be used in Department of Defense (“DOD”) projects to power specialty vehicles. According to the announcement, the two orders are valued at more than $6 million; US Hybrid’s pipeline looking forward to the next year and a half is projected to generate an estimated $50 million in sales. “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 US Hybrid VP and general manager Richard Woods in the press release. “With 24 years of industry experience, US Hybrid continues to show that we have the right mix of people and technology to get the job done for our customers.”
To view the full press release, visit https://ibn.fm/GC9MB
About Ideanomics Inc.
Ideanomics is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation and financial services, the company provides solutions needed for the commercial world to commit to an EV future. For more information about the company, please visit www.Ideanomics.com.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
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