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.
By : Reuters
| Updated on: 29 Dec 2020, 09:51 AM
File photo used for representational purpose (MINT_PRINT)
File photo used for representational purpose (MINT_PRINT)
File photo used for representational purpose (MINT_PRINT)
File photo used for representational purpose

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.

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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.

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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.

First Published Date: 29 Dec 2020, 09:51 AM IST
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