Ideanomics has released details of its Mobile Energy Group (MEG) operations, including details of MEG’s 4 key business units as revenue drivers. This demonstrates the company’s involvement in the new energy vehicle market. It is using a mixture of acquisition, joint venture and partnership activities with leading EV, fuel cell, charging network, electrical grid, fleet management, lease financing, and ABS providers. Its objective is to develop participation in the full value chain.
“Now that we are underway with the new energy vehicle sales and financing activities, we felt it was the right rime to share our MEV activities in detail for the first time. The value chain you see in our model has been carefully constructed over the past 24 months, as we became aware of the opportunity to help the new energy vehicle industry come together in an innovative and cohesive manner that benefits participants at every level, whether parts suppliers and manufacturers, energy providers, or fleet managers,” said Alf Poor, CEO of Ideanomics.
“We’re focused on delivering value to each of our partners, and the broader industry in general, and we’re excited to see our MEG division take shape and emerge with a strong thought leadership role in the future of the automotive industry. This model is a blueprint for efficiency, which we believe will serve the entire value chain and help new energy vehicles accelerate the pace of change in the automotive industry such that we reduce its reliance on fossil fuels. We’re thrilled to share this with our partners and the broader investment community at this time.”
The Ideanomics Mobile Energy Group portfolio
The Mobile Energy Group’s 4 key business units are:
- energy supply, which brings together leading electrical energy providers and technology for grid-based and on-site energy production
- battery operations, where it is working with leading fuel cell partners for fast-charging capabilities
- sales and financing, where is is linking with leading financial partners and a manufacturer alliance for group-buying and competitive financing solutions
- the IoV (Internet of Vehicles) business unit which combines real-time data services.
The latter aims to assist with all aspects of fleet management, from sales and financial services through to dealer management. This will utilise a blockchain-based, data-driven, platform.
Additionally, the MEG group is positioning a concept for commercial vehicle and fleet markets. This is based on fractional ownership of commercial vehicles, such as trucks. Here the intention is to:
- ‘democratise the ownership’ of profitable fleet activities
- help manufacturers, distributors and last-mile delivery providers achieve a more efficient ownership model.
Filling the in the blockchain detail
There is a dearth of specific information about how the blockchain platform that Ideanomics aspires to will look or work. However the following diagram offers some clues.
Ideanomics is a fintech company focusing on transformative industries. Projects in New Energy Vehicle markets, fintech and advisory services provide its customers and partners with efficiencies, technologies and access to global markets.
As such Ideanomics, as part of the next- generation of smart financial services, combines:
- deal origination
- enabling the application of technologies such as artificial intelligence, blockchain, and others.
The company has its headquartered in New York, NY, with:
- offices in Beijing (China)
- a planned centre for Technology and Innovation in West Hartford, CT (its ‘Fintech Village’).
Enterprise Times: what does this mean
Blockchain, energy and mobility (in its many forms) are edging together. As Enterprise Times has described, many are looking for enterprise scale solutions.
The Ideanomics Mobile Energy Group vision is broader and deeper than most. Whether it is attainable is impossible to assess at this stage (fancy diagrams are easier than real practice). But Enterprise Times is in no doubt that many possibilities exist, and there will be intense competition.