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Ideanomics, Ankai Partner On Hydrogen-Powered Buses

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Ideanomics Inc (NASDAQ: IDEX) has signed an agreement to partner with Anhui Ankai Automobile Co. Ltd, a manufacturer and sales enterprise for bus markets.

Ideanomics objectives with Ankai is to establish a value chain to support the Chinese government's mandate for clean energy buses by 2020.

"This, along with our other manufacturing partnerships that have been recently announced, will help speed up the time-to-market for sales orders received, as well as help facilitate a rounded offering of small, medium, and large buses required to service the different markets we are operating in," said Alf Poor, CEO of Ideanomics.

"This deal epitomizes the S2F2C (Sales to Financing to Charging) model which Ideanomics is pioneering for the benefit of streamlining and mobilizing the migration from fossil fuels to clean tech fuels. Our intentions with S2F2C is to become the lynchpin for the EV and Hydrogen bus markets, such that both manufacturers and the state-owned and private bus operators see Ideanomics as a one-stop solution for access to all of their vehicle procurement, financing, and charging station network needs.”

Ideanomics shares are trading up 1.81% at $1.69 at time of publication. The stock has a 52-week high of $5.75 and a 52-week low of $1.12.

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