2023-05-08 08:16:12 ET
- Ideanomics ( NASDAQ: IDEX ) subsidiary US Hybrid has secured two large follow-on orders for electric propulsion systems that, separately, will be used in Department of Defense projects and to power specialty vehicles.
- These two orders, valued at more than $6M, are part of US Hybrid's robust customer pipeline through the next 12-18 months.
- It is expected to generate more than $50M in sales.
- US Hybrid has strategic relationships with a diverse set of local and global vendors for components, creating a resilient and efficient supply chain
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Ideanomics subsidiary, US Hybrid bags more than $6M worth contracts