Ideanomics Inc (NASDAQ:IDEX), the greentech and Fintech advisory group, will launch two new businesses to capitalize on China's US$3.4 trillion (RMB24 trillion) investment in so-called new infrastructure.
The two new entities will be MEG New Energy Vehicles and MEG 5G Energy Services.
READ: Ideanomics Inc subsidiary MEG strikes strategic agreement with leading EV truck and bus maker, BeiBen Heavy Truck
They will be subgroups of the group's electric vehicle subsidiary - Mobile Energy Global's (MEG) new energy sales division - and each will have a core group of strategic partners.
New infrastructure includes the likes of 5G, electric vehicle charging points, big data centers and artificial intelligence (AI).
The New Energy Vehicles business will facilitate financing and leasing of supporting IoV infrastructure under a variety of scenarios including the Belt and Road Initiative and electric vehicles (EVs) in Qingdao, Shandong Port.
It will be primarily financing for 5G towers and stations as well as other similar group's power supply. MEG's New Energy Vehicles has formed a strategic cooperation with several leading partners, including CATL, Beiben Trucks Group Co., Ltd., Chery Automobile Group, CEMI Group, iUnicorn (Shenma Zhuanche) to incorporate IoV technology into their manufacturing.
5G Energy Services will make use of IoT/IoV services to accelerate the deployment, maintenance, and management of clean energy services in a variety of scenarios ranging from urban data centers, energy transformation (distributed energy), to urban charging ports.
It has formed a strategic cooperation with China Tower, GCL Group, State Grid, Dongfang Energy Sales Cloud, and TMR Energy. GCL brings a real-time fleet management platform which will leverage the IoV and IoT data capabilities over 5G to assist commercial fleet operators with everything from charging and battery replacement indicators, through to route optimization based on traffic and weather conditions.
Mobile Energy Global's ultimate strategy is to derive revenues from new energy sales from the increasing adoption of EVs.
5G Energy Services will provide an additional layer of revenue - powering the thousands of 5G towers used to support IoT/IoV services in commercial electric vehicles, and complements MEG's New Energy Sales platform which includes wholesale electricity sales and prepaid sales through UnionPay 4-in-1 cards.
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