Adomani Inc (NASDAQ:ADOM) shares were skyrocketing Monday following its announcement of an all-electric school bus from almost two weeks ago.
The electric vehicle maker announced back on Tuesday, May 7 that it would be teaming up with Blue Bird Corp (NASDAQ:BLBD) to create a zero-emissions, electric school bus, marking the first of its kind. Adomani’s expertise is in designing zero-emission and hybrid vehicle drivetrain solutions and purpose-build electric vehicles.
The company announced the news in the 2018 Florida Blue Bird Experience, hosted by Florida Transportation Systems, Inc., which is designed to rein in transportation professionals, state officials and the public together. Adomani used the opportunity to showcase its U.S.-build Vision Type C school bus, which is emission free.
The idea for the bus was first introduced in 2003 and it is powered by a number of alternative fuels with a conventional drive train. This new iteration of the bus is the first of its kind and the cleanest such bus in the Vision line-up.
“Florida continues to rank as one of the top 15 states with the worst air quality,” said Chris Rustman, President of Florida Transportation Systems. “Introducing the all-electric school bus is the right step toward cleaner and healthier air for our communities, not to mention the lower total cost of ownership for school districts.”
ADOM stock was soaring about 36.7% on Monday on the news.