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Ideanomics says subsidiary Tree Technologies hires former Volkswagen director Richard Teoh as CFO

Published: 10:37 02 Dec 2020 EST

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Tree Technologies owns the EV brand Treeletrik and is the first company to bring a true electric bike to Malaysia

Ideanomics Inc (NASDAQ:IDEX) announced Wednesday that subsidiary Tree Technologies Sd Bhd, which owns the Treeletrik brand, has hired Richard Teoh as its CFO effective immediately. 

In a statement, Ideanomics said Teoh brings to Treeletrik over 20 years of financial control, planning, leadership, and management experience. He was most previously director of group finance at Volkswagen Group Malaysia and was responsible for the financial oversight of the commercial distribution and manufacturing of vehicles. 

Prior to that, Teoh served in a variety of senior finance leadership roles, including at Dominick Hunter, a UK-based industrial product manufacturer which was acquired by Parker Hannifin. At Dominick Hunter, he was involved with the integration and transition of financial ERP systems and controls. Teoh is a Chartered Certified Accountant and Chartered Accountant.

READ: Ideanomics reports 102 electric vehicles delivered from its Mobile Energy Global division during October

"We have ambitious plans for Treeletrik's growth, and Richard's financial leadership, combined with his experience in relevant industries such as automotive, manufacturing, and construction, will help the company meet its growth objectives," said Datuk Viswanathan Menon, Treeletrik CEO. 

Alf Poor, Ideanomics CEO, added: "We are very pleased to have Richard Teoh join the Treeletrik team as CFO. His experience and industry insight will help us with all aspects of the company's growth strategy. As the leading EV manufacturer in the ASEAS region, Richard will be assisting us with everything from supply chain development through to the roll out of our battery and charging systems, as well as the development of the land in the port area."

Tree Technologies owns the EV brand Treeletrik and is the first company to bring a true electric bike to Malaysia. The company provides transportation options that are clean, safe, and affordable, with advanced technology, EV innovations, and minimal maintenance. 

Ideanomics is headquartered in New York City with offices in Beijing, Hangzhou, and Qingdao, and operations in the US, China, Ukraine, and Malaysia.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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