Ideanomics’ MEG Reports Purchase Agreement of 2,000 Units of BYD D1 | Financial Buzz

Ideanomics’ MEG Reports Purchase Agreement of 2,000 Units of BYD D1

Ideanomics, Inc. (NASDAQ: IEX) announced that its Mobile Energy Global and contracting entity Qingdao Chengyang Medici have signed an agreement with Meihao Chuxing, a joint venture between BYD and Didi to purchase 2,000 units of model BYD D1.  The ride hailing vehicles will deploy in multiple cities in China.  Deliveries are expected to begin in H1 2021. 

“The D1 is a very thoughtfully designed ride-hailing EV and is a culmination of the latest design and technology to bring drivers and their customers an enjoyable travel experience. We are very pleased to work with Meihao Chuxing and BYD to promote the sales of the D1,” said Alf Poor, Ideanomics CEO. “Supported by a viable government subsidy program, the proliferation of EVs in China is a testament to the value that public and private partnerships can bring to large scale global challenges. We look forward to developing these types of partnerships and the rollout of more innovative vehicles like the D1 to our taxi and ride-hailing customers.” 

Back in 2019, Meihao Chuxing Automobile Technology Co., Ltd. was established through a 65/35 joint venture between BYD and Didi as BYD holds the controlling interest.  The BYD D1 model was launched in November 2020 and was jointly developed by BYD and Didi as the world’s first custom all electric car for ride hailing.  The vehicles feature L2 Assisted Driving system linked with a fleet management system to help large fleet operators track and optimize operational status., energy management in real time, etc.