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File photo used for representational purpose (MINT_PRINT)
File photo used for representational purpose (MINT_PRINT)

Ideanomics' MEG to buy 2,000 customized BYD EVs for ride-hailing services

  • Aimed for deployment in multiple Chinese cities where the passengers can hail the cars through the Didi Chuxing app, Ideanomics will use EVs for ride-hailing services.
  • The company said deliveries are expected to begin in the first half of next year.

Ideanomics Inc's Mobile Energy Global unit, which helps commercial fleet operators procure electric vehicles, said on Monday that it has signed a deal for the purchase of 2,000 EVs for ride-hailing services.

The deal was between MEG and its contracting entity Qingdao Chengyang Medici and a joint venture between China's Didi Chuxing and EV maker BYD. The company said deliveries are expected to begin in the first half of next year.

The vehicles are aimed for deployment in multiple Chinese cities where the passengers can hail the cars through the Didi Chuxing app, Ideanomics said in a statement. Its shares soared 22% in premarket trading.

Meihao Chuxing (Hangzhou) Automobile Technology, the joint venture between ride-hailing giant Didi Chuxing and Shenzhen-based BYD, launched the D1 model in November after it started to jointly design and develop the model two years ago.

(Also read | China search giant Baidu considers making own electric vehicles: Sources)

The world's first volume customized vehicle for sharing rides features an assisted driving system and are linked with a fleet management system that helps large fleet operators track and optimize operational status, the company said.

This story has been published from a wire agency feed without modifications to the text.

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