Why Is Ideanomics (IDEX) Stock Gaining Today?

  • Ideanomics (IDEX) stock is jumping on design updates.
  • The company plans to expand its in-house design abilities.
  • This has it working to offer deeper customization to customers.
IDEX stock: An electric tractor sits in a field on a sunny day with a wind turbine in the background.

Source: Matthew Troke / Shutterstock.com

Ideanomics (NASDAQ:IDEX) stock is rising on Monday after the electric vehicle (EV) company revealed plans for new in-house design capabilities.

According to a press release from the company, it’s looking to create a standardized design process across the company. It believes this will lead to the development of a more cost-effective and efficient development process.

Adding to this, the company is working to develop a modular design for its various products. This will allow it to better meet the needs of its customers when designing and developing EVs and EV chargers. Ideanomics says that this approach will allow for low-cost customization by customers during the building process.

IDEX Designers Will Act As Consultants Too

Ideanomics’ in-house design studio will also work alongside third parties with its consulting services. The company anticipates this will act as another way for the development studio to generate revenue.

Carlos Arroyo, chief designer at Ideanomics, said this in a news release:

“During every step of the design process, we are putting the customers’ needs first. My team is committed to bringing the needs and wants of each customer into the design process and combining Ideanomics’ brands, technology and engineering expertise to create elegant product offerings that provide the absolute best customer experience possible and inspire the digital generation.”

IDEX stock is seeing decent trading volume on today’s news. This has more than 2 million shares traded as of this writing. That’s quickly approaching its daily average trading volume of about 4 million shares.

IDEX stock is up 2.5% as of Monday morning.

Investors seeking out all the latest stock market news will want to keep reading!

We’ve got all of the hottest stock news traders need to know about for Monday! Among that is what has shares of Bed Bath & Beyond’s (NASDAQ:BBBY), Vertical Aerospace (NYSE:EVTL) and Li Auto (NASDAQ:LI) stock moving today. You can find out more on these matters at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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