Ideanomics’ MEG Finalises EV and Energy Business Units

Ideanomics, Mobile Energy Global (MEG) division has announced that it has finalised its EV and Energy business units under the S2F2C model.

Ideanomics, Mobile Energy Global (MEG) division has announced that it has finalised its EV and Energy business units under the S2F2C (Sales-to-Financing-to-Charging) model. Each business unit has been developed to focus on a key area of revenue, and is part of the Company’s plans to onboard diversified revenue streams as it scales in Asia and beyond, having its own team and revenue objectives to provide focus and accountability as MEG activities scale in 2020 and beyond.

The Sales to Financing division’s four key business segments are built around Commercial EV sales and are: 1) Lease Financing Fund Supported Sales; 2) Cash and Non-Fund Sales; 3) Qingdao EV Hub Sales; 4) Treeletrik and Ex-China Sales.

The Charging division’s four key business segments are focused on energy sales and are:

1. Pre-paid Electricity Sales for Commercial EV Fleets;
2. EV Fast-charging Network Sales;
3. 5G Smarty City Energy Sales;
4. Consolidated Energy Purchasing Card With China Union Pay.

“We are entering a period of high-growth for the Company, and the business units have begun to take shape based on our EV order flows and the predicted revenue streams for energy sales,” said Alf Poor, CEO of Ideanomics.

“We’ve been developing each business unit under our S2F2C model as the demand for clean energy vehicles matures, adjusting according to market conditions and opportunity. Our analogy internally has been to create two thoroughbred race horses, each supported by four strong hooves, capable of accelerating quickly and efficiently to ensure we are well-placed to benefit from the uptick in EV and clean energy consumption as it transitions from an emerging market to mainstream.”

In November 2019, we had reported that the firms’ MEG division had secured an order for 35,000 Electric Vehicle (EV) taxis from the Yunnan Energy Investment Group, which is a province-designated entity for clean energy transportation solutions in China. The order was signed as part of broader cooperation with Yunnan Energy, which will start with EV taxis and develop into other vehicles’ orders and also energy purchasing and charging.