Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce that its subsidiary, Mobile Energy Global (MEG) and Beijing Silk Road Rainbow Group have jointly developed a new energy bus plan to help facilitate the sale of more than 2,000 EV buses in China through selecting manufacturers with the capability to fulfill multiple large-scale orders. The EV bus manufacturers include CRRC, Zhong Tong, Shanghai Shenli, and Yunnan Wulong.
The Chinese government mandated that bus operators must convert or replace their bus equipment with clean energy vehicles by the end of 2022. MEG, through its consortium of EV auto manufacturers, EV battery manufacturers, and financing partners, provides a unique value proposition to fleet operators – the ability to procure high volume discounts through a variety of manufacturers. The new energy bus plan with Beijing Silk Road Rainbow Group furthers MEG’s ability to participate in China’s substantial EV bus market.