Ideanomics subsidiary MEG gets orders for 4,800 vehicles from truck services firm

The order consists of three sub-purchases of heavy haulage transportation vehicles, heavy dump trucks and 800 passenger-class cars

Electric cars
The vehicles will be procured from a variety of manufacturers within MEG’s alliance of partners

Ideanomics Inc (NASDAQ:IDEX) subsidiary Mobile Energy Global (MEG) has received a new vehicle order from truck services firm Zhitong 3000's holding company Jiangsu Linghao Network Technology Co Ltd.

The order consists of three sub-purchases - 3,000 units of heavy haulage transportation vehicles for 400,000 RMB (US$57,000), 1,000 units of heavy dump trucks for the transportation of slag and mining ore for 420,000 RMB (US$60,000) and 800 passenger-class cars for160,000 RMB (US$23,000). 

The vehicles will be procured from a variety of manufacturers within MEG’s alliance of partners, the company said. The order will be subject to a rolling delivery schedule throughout 2020.

READ: Ideanomics poised for potential Treeletrik subsidiary IPO later in year

In December, MEG signed a strategic partnership with Zhitong 3000 to offer services to its commercial fleet operators. The deal will see Zhitong act as a procurement partner for these initial orders and streamline the purchase, delivery and financing placement.

Ideanomics is focused on facilitating the adoption of commercial electric vehicles and developing financial services and fintech products. Its electric vehicle division, Mobile Energy Global (MEG), provides group purchasing discounts on commercial electric vehicles, EV batteries, as well as financing and charging solutions.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

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