Ideanomics has announced that its Mobile Energy Global (MEG) division has secured an order for 35,000 EV Taxis from Yunnan Energy Investment Group, which is a province-designated entity for clean energy transportation solutions.

The order was signed as part of a broader cooperation with Yunnan Energy, which will start with EV taxis and develop into other vehicles’ orders and also energy purchasing and charging. Delivery of the EV taxis will commence in the first half of 2020. 

Legislators in China have been quick to identify taxis as a significant segment of fossil fuel consumption and have encouraged regional taxi commissions and their licensed operators to convert over to electric vehicles through a mixture of legislation and rebate incentives.

Taxis are one of the four key revenue segments for MEG, which is also developing innovative umbrella financing solutions to help streamline the adoption of EV by commercial fleet operators. MEGs key EV operating segments are Heavy Duty commercial for closed area environments, such as Mining, Steel Mills, Airports, and Seaports, Light commercial last-mile logistics vehicles, Buses and Coaches, and Taxis.