Ideanomics opens MEG EV Center in Qingdao, says revenues to begin this month

The MEG Center hosts a full suite of car dealer services for new energy and used cars with a capacity of 18,000 vehicles on site

Ideanomics Inc - Ideanomics opens MEG EV Center in Qingdao, revenues to begin this month
The MEG Center serves as a one million square foot electric vehicle expo

Ideanomics Inc (NASDAQ:IDEX) revealed that its Mobile Energy Global (MEG) division has officially launched the largest auto trading market in Qingdao, China at MEG's Qingdao electric vehicle (EV) hub.

The company, which focuses on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech products, said the MEG Center now hosts a full suite of car dealer services for new energy and used cars with a capacity of 18,000 vehicles on site.

READ: Ideanomics says MEG division forges strategic alliance with smart travel tech leader Qinou to rev up electric taxi sales

The facility also offers a one-stop buying experience that includes financial services and onsite vehicle registration services.

Ideanomics noted that MEG will leverage the large audience attracted by the auto trading market to help educate the population through its upcoming EV-centric welcome center and onsite EV manufacturing partners. The firm will also use influencer-based marketing of new energy and used cars to leverage the impact influencers have on big ticket purchases in Asia.

The MEG Center is a one million square foot EV expo center which will house partners ranging from EV manufacturers, EV battery manufacturers, energy storage, energy management, and EV charging solution providers, financial services, insurance companies, vehicle and license plate registration services, and others including a state of the art MEG Welcome Center.

Ideanomics said it will hold a ribbon-cutting ceremony for the MEG Center in Qingdao in the summer in conjunction with its annual general meeting.

Contact the author of the article at [email protected]

Follow him on Twitter @Cal_Proac

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Price: 1.21 USD

Market: NASDAQ
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