The consortium is to consist of Ideanomics subsidiary, U.S. Hybrid Corporation and A-1 Alternative Fuel Systems Inc, supported by funding from South Coast Air Quality Management District (South Coast AQMD) and SoCalGas.

The Ideanomics-subisidary will supply electric powertrains for 62 street sweepers, built by Global Environmental Products and set to be delivered to cities across the USA.

Ideanomics Inc, a financial technology company headquartered in New York City, with offices in Beijing, Guangzhou, and Qingdao, China, has signed a definitive agreement to acquire 100% of privately held US Hybrid Corporation of Torrance, California.