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Benzinga
Benzinga
Business
Akanksha Bakshi

Ideanomics' WAVE Expands Sourcewell Partnership On Wireless EV Charging

  • Ideanomics Inc (NASDAQ:IDEX) subsidiary WAVE expanded the Sourcewell partnership to lower the upfront costs of wireless EV charging.
  • Sourcewell is a self-sustaining government organization offering cooperative purchasing with more than 400 competitively solicited contracts to government, education, and nonprofit entities throughout North America.
  • WAVE's hands-free charging system extends the EV range quickly and automatically delivers the high-power charge the large vehicles need.
  • In addition to the reduced pricing, WAVE's new Charging-as-a-Service (CaaS) offering is a package including hardware, maintenance, and operational services.
  • The package typically ranges from five to eight years and is available via a monthly CaaS subscription fee.
  • "CaaS enables Sourcewell members to go completely battery-electric with minimal impact on their business and operational expenditures," stated WAVE CEO Aaron Gillmore.
  • Price Action: IDEX shares are trading higher by 9.58% at $1.32 on the last check Monday.
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