Ideanomics Pockets $5.5M Purchase Order From Global Environmental Products

Ideanomics Inc IDEX subsidiary US Hybrid bagged a $5.5 million purchase order from Global Environmental Products (GEP) for additional battery powertrain kits for electric street sweepers for California and other state fleets.
The delivery of the order is expected to occur in 2022. Financial terms were not disclosed.
The battery-electric powertrain kits in this new purchase order will include the battery, powertrain, charger, economizer, and telematics.
In 2009, GEP partnered with US Hybrid to launch the first hybrid electric street sweepers in New York City and deployed an additional operation in Japan.
In 2021, GEP teamed with US Hybrid to deploy, fully electric, supercharged street sweeper operating in Brooklyn, New York.
Price Action: IDEX shares are trading lower by 1.09% at $1.36 on the last check Wednesday.