IDEX Stock
IDEX Stock

Shares of Ideanomics, Inc. (NASDAQ: IDEX), a technology investment firm, rose this week on the strength of its previously purchased wireless car charging business.

WAVE, an Ideanomics subsidiary, stated on Wednesday, June 22, that it has obtained a contract to supply wireless charging stations and install them in an Oregon customer’s parking lot. The customer is Josephine Community Transit (JCT), which had originally planned to purchase only one WAVE charging station but then increased the order to four.

The prospects for WAVE have previously been discussed. These are extremely powerful setups for large vehicle wireless charging. JCT has bought four 125 kW charging stations to power electric buses.

Wireless charging has a substantially higher energy loss than cable charging, however, there are significant advantages. To begin with, cables are unnecessary, as they are costly and often destroyed. The wires’ condition must be checked; otherwise, there is a risk of fire or an electric shock to employees.

So, JCT has been operating electric buses for a number of years, and working with wires was one of the major issues, as were needless acts in the parking lot. Wireless charging may be built underground, utilizing the full parking area, whereas cable charging “pillars” on large buses are impossible to avoid – this adds an extra ride and increases the danger of fire or injury.

Another advantage of wireless charging is that no further training is required; simply placing the bus in a certain location is sufficient.

JCT management’s praise for WAVE solutions is excellent news for Ideanomics. Wireless charging station sales may expand if early adopters have a pleasant experience.

The stock had a rise of 53.19 percent over the previous month, a loss of -9.01 percent over the previous three months, and a loss of -37.23 percent over the previous six months. According to estimates, IDEX’s price volatility during the last week was 10.85 percent, while its volatility over the last month was 9.58 percent.

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