What’s Happening
Ideanomics’ subsidiary US Hybrid has obtained two substantial follow-on orders for electric propulsion systems, valued at over $6 million. These systems will be utilized in Department of Defense projects and specialty vehicles. These orders are part of US Hybrid’s strong customer pipeline, which is anticipated to generate more than $50 million in sales over the next 12-18 months.
Why It Matters
US Hybrid’s zero-emission electric and fuel cell propulsion systems are playing a crucial role in promoting the commercial adoption of green vehicles. With 24 years of industry experience, the company demonstrates its ability to deliver the right mix of people and technology to satisfy customer needs.
Key Points
- US Hybrid’s propulsion systems are Buy America compliant, manufactured at the company’s Torrance, California facility.
- The company maintains strategic relationships with local and global vendors, ensuring a resilient and efficient supply chain that helps operations run smoothly and enables cost savings for customers.
- US Hybrid’s technology has a proven track record, with zero-emission street sweepers operating in New York, California, Washington, D.C., and Tokyo, as well as buses in Hawaii, Ohio, and New York, and equipment at the Port of Los Angeles.
- With over 24 years of experience, US Hybrid specializes in designing, developing, and manufacturing hydrogen-electric and battery-electric propulsion systems for medium- and heavy-duty commercial buses, trucks, and off-road equipment.
Bottom Line
US Hybrid’s recent $6 million in orders for electric propulsion systems highlights the growing demand for zero-emission vehicles in various industries, including defense and specialty vehicles. The company’s commitment to delivering high-quality, eco-friendly propulsion systems positions it as a leader in the market, and its strategic relationships with vendors ensure a resilient supply chain. Ideanomics is streamlining fleet electrification by offering comprehensive solutions for fleet operators to adopt electric vehicles more easily and affordably.
