The electric vehicle division of Ideanomics, a global company focused on the adoption of commercial electric vehicles, has entered into a deal with China’s Zhongsen Tower to establish Zhongsen Tower in Qingdao.
Under the deal, Ideanomics’ electric vehicle arm, known as Mobile Energy Global (MEG), will own 30 percent of the joint venture, making MEG the largest co-shareholder.
Ideanomics said, with the deal, MEG has taken a significant step to monetize its energy sales by powering Zhongsen’s base stations, which are critical components to new energy infrastructure.
Base stations help enable all things technology-related, such as smart cities, smart shipping ports, and the internet of things. According to Zhongsen Tower, there are an estimated 6 million base stations needed for China’s 5G nationwide network deployment.
Zhongsen Tower, an affiliate of a division of China Tower Holdings, is a major 5G and IoT infrastructure service provider, offering
