IDEX informed investors about an action plan from the Chinese State Council to accelerate the country’s adoption of electric vehicles.

The State Council, China’s primary administrative authority, issued what it called the Three-Year Action Plan for the Battle of the Blue Sky, an acceleration of its original environmental Big Sky Plan from 2018.

The MEG Center in Qingdao is a 1 million sq ft EV expo center with the capacity to hold 18,000 vehicles. The official ribbon-cutting ceremony will be held later this summer.

MEG has established relationships with leading manufacturers in the country, enabling it to meet the rapidly increasing demand for commercial EVs. Additionally, it has established a consortium of financial partners to allow fleet operators to secure large purchases. The plan to fast-track conversion to EVs will highlight MEG's strengths, the company said, and further solidify its position as a critical facilitator in the EV ecosystem.

Current owner is a Chinese billionaire. His wife is ranked Forbes 100 most powerful women in america. She was chosen to represent China as the ambassador for Beijing’s bid for the 2008 Olympic Games.

IDEX informed investors about an action plan from the Chinese State Council to accelerate the country’s adoption of electric vehicles.

The New York-based company has offices in Beijing, including its electric vehicle division, Mobile Energy Global.