Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, and its subsidiary, WAVE, has inked a multimillion-dollar purchase order from the Antelope Valley Transit Authority (“AVTA”). Acquired by IDEX earlier this year, WAVE is the leading high-power, inductive-charging solution provider for medium- and heavy-duty vehicles. The deal calls for WAVE to provide 28 additional wireless charging systems.
In 2019, AVTA, which operates the largest battery-electric bus fleet in the country, became the first fully electric fleet powered by wireless charges; the company serves more than 450,000 residents in both Lancaster, California, and Palmdale, California, as well as parts of northern Los Angeles County.
“AVTA has been a strong supporter and customer of WAVE for years, and with this order, they are doubling down on their commitment to providing green, sustainable public transportation for the people of California,” said WAVE CEO Aaron Gillmore in the press release. “AVTA is setting a great example for how other cities can create real change in their mass transit systems, and as this movement spreads throughout the U.S., WAVE will be ready to jump in and partner with other agencies to eliminate any concerns they may have with range limits when converting to electric fleets.”
To view the full press release, visit https://ibn.fm/yOWvH
About Ideanomics Inc.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy-management solutions under the company’s innovative sales-to-financing-to-charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide the company’s global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and the company’s shareholders with the opportunity to participate in high-potential, growth industries. 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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