Ideanomics electric vehicle division, Mobile Energy Global (MEG) and Beijing Silk Road Rainbow Group have jointly developed a new energy bus to help facilitate the sale of more than 2,000 EV buses in China through selecting manufacturers with the capability to fulfil multiple large-scale orders. Among the EV bus manufacturers are CRRC, Zhong Tong, Shanghai Shenli, and Yunnan Wulong. China’s EV bus replacement market is estimated to be in excess of USD 118 Billion and regulations require conversion to EVs by the end of 2022.
The Chinese government mandated that bus operators must convert or replace their bus equipment with clean energy vehicles by the end of 2022. MEG, through its consortium of EV auto manufacturers, EV battery manufacturers, and financing partners, provides a unique value proposition to fleet operators – the ability to procure high volume discounts through a variety of manufacturers. The new energy bus plan with Beijing Silk Road Rainbow Group furthers MEG’s ability to participate in China’s substantial EV bus market.