Ideanomics, Inc. (NASDAQ: IDEX), a technology investment firm, revealed this week that it will play a key part in transitioning California’s transportation to electric traction.
Coast Counties Peterbilt, a trucking firm with a vast fleet of vehicles and 70 years of expertise, has teamed with IDEX. Customer services for the placement and administration of electric car charging stations will be provided by Ideanomics. Four fast chargers will be placed at dealerships around the California coast at first.
This is a new business for Ideanomics, Inc. (IDEX), which is managed by the newly founded Ideanomics Energy division. It brings together previously acquired IDEX products such as software for developing, maintaining, and controlling the energy usage of electric vehicle infrastructure.
Ideanomics Energy’s services will be sold on a monthly subscription basis to Coast Counties Peterbilt. Ideanomics, Inc. (IDEX) is thereby establishing a new market niche that may produce long-term revenue through membership sales.
IDEX offers a wide range of services and IT tools, as well as certain solutions that will help you stand out from the crowd. Take the WAVE wireless charging station, for example. Its primary target market was public transportation at first, but it may now be found in truck fleets, taxi firms, business automobiles, and more.
The Ideanomics solution may present a tempting opportunity for potential clients to swiftly update cars by outsourcing the implementation and maintenance of new infrastructure.
Ideanomics Inc.’s (IDEX) stock rose 1.83 percent on Wednesday, closing at $0.61. The number of shares traded was 4.62 million, which was lower than the average volume of 5.95 million for the previous three months. The stock fluctuated between $0.6026 and $0.6459 during the trading session. The earnings per share ratio for the firm was -0.33. The stock of IDEX has gained 14.04 percent in the last five sessions and -15.36 percent in the last month but has lost -49.08 percent year-to-date.