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IDEX focusing on the EV market in China

June 2020

IDEX focusing on the EV market in China
IDEX focusing on the EV market
  • 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. 

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