Ideanomics launches heavy commercial truck category of Electric Vehicles
Ideanomics' Mobile Energy Group or MEG announced new activities in the heavy truck category of Electric Vehicles. In addition to the environmental considerations, EV heavy trucks offer autonomous piloting in closed working environments. "After in-depth conversation and research, conducted by MEG and our partners, with two of China's leading mining provinces, Inner Mongolia and Yunnan, we have determined that they have a combined sales target for heavy trucks and the required batteries of approximately $14B over the next three years. This is exactly the type of market at scale that our MEG group brings for the benefit of our shareholders and consortium partners," said Bruno Wu, Chairman of Ideanomics. "We anticipate our heavy truck activities to begin in Q2 of 2020 and, in the meantime, we will be working with our partners to develop and deploy the heavy truck program in such a way that it allows MEG and our partners to repeat the success of this new division in other provinces and outside of China," said Alf Poor, CEO of Ideanomics.