Ideanomics (NASDAQ: IDEX) on Friday announced the formation of two core business entities to capitalize on China’s RMB24 trillion (USD3.4 trillion) “New Infrastructure” investments. According to the update, the two entities, MEG New Energy Vehicles and MEG 5G Energy Services, will be subgroups of MEG’s New Energy Sales division, each having a core group of strategic partners. As part of the financial stimulus measures put in place to help stabilize growth and employment, serve consumption upgrades and improve overall quality of life, the Chinese government is accelerating its “New Infrastructure” investment. As of March 4, seven provinces and cities have launched more than RMB 24 trillion in key new infrastructure construction projects. New infrastructure refers to construction focusing on the technology infrastructure – 5G, ultra high voltage (UHV), intercity high-speed railways and intercity rail transit, new energy vehicle charging station infrastructure, big data centers to service 5G IoT/IoV data collection, improve major fields of study such as artificial intelligence and industrial internet. New infrastructure investments and progress are expected to mitigate the effects of the Covid-19 epidemic and consequent economic downturn as well as promote reform and innovation.
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About Ideanomics
Ideanomics is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech products. Its electric vehicle division, Mobile Energy Global (“MEG”) provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity as well as financing and charging solutions. Ideanomics Capital includes DBOT ATS and Intelligenta which provide innovative financial services solutions powered by AI and blockchain. MEG and Ideanomics Capital provide global customers and partners with better efficiencies and technologies and greater access to global markets. The company is headquartered in New York, NY, and has offices in Beijing, China. For more information, visit www.Ideanomics.com.
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