88.7 F
Los Angeles
Wednesday, Aug 10, 2022
-Advertisement-

Enova Soars on Bus Deal

Shares in Enova Systems Inc. shot up Tuesday after the company said it inked a long term supply agreement with a school bus manufacturer worth over $120 million.


The deal, with IC Bus, a wholly owned affiliate of Warrenville, Ill.-based Navistar Inc., guarantees that Torrance-based Enova’s proprietary post transmission parallel hybrid electric drive system will be used in hybrid school buses made by IC Bus, the digital power components supplier said.


IC Bus has forecast significant demand for its hybrid buses in North America and the two companies also said they see potential for similar demand for hybrid buses in India as well.


Shares in Enova surged 24 percent to $5.20 in early trading Tuesday.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-