Ideanomics Announces $215 M Order from Sichuan Shenwu Yunli Transportation

NEW YORK - May 13, 2020 - PRLog -- Ideanomics, announced a new vehicle order through its MEG subsidiary from construction services company Sichuan Shenwu Yunli Transportation Services Co., Ltd., the leading construction site dump truck operator in Southwest China provinces of Sichuan, Yunnan and Guizhou.

The order is for 2,000 8x4 meter heavy dump trucks, for use in construction projects in various locations. The vehicles cost approximately 750,000 Renminbi (approx. $107,000 USD) per unit, with the order totaling in the region of 1.5 Billion Renminbi, or approximately $215 Million USD.

The vehicles will be procured from a number of manufacturers within MEG's partner alliance and will be subject to a rolling delivery schedule throughout 2020 and beyond. MEG has identified commercial heavy trucks as a strategic segment of its business, and one in which it feels it can derive significant revenues in the next few years as EV heavy trucks deliver significant ROI for fleet operators in terms of fuel savings.

"We are very pleased to be working with Mobile Energy Group and their Qingdao sales hub for this order, which will see us convert our fleet of heavy construction vehicles starting in 2020 and completing over the course of the next two to three years," said Yang Guang, Chairman of Sichuan Shenwu Yunli Transportation Services Co., Ltd. "The MEG team's expertise and knowledge of the EV truck market, and the associated financing and rebate structures required for the electric vehicle market, were a key factor in our decision in the timing and placement of this order."


About Ideanomics

Ideanomics is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech products. Its electric vehicle division, Mobile Energy Global (MEG) provides financial services and incentives for commercial fleet operators, including group purchasing discounts and battery buy-back programs, in order to acquire large-scale customers with energy needs which are monetized through pre-paid electricity and EV charging offerings. Ideanomics Capital includes DBOT ATS and Intelligenta which provide innovative financial services solutions powered by AI and blockchain. MEG and Ideanomics Capital provide our global customers and partners with better efficiencies and technologies and greater access to global markets.

The company is headquartered in New York, NY, and has offices in Beijing, China.

www.ideanomics.com