Which Energy Penny Stocks Should You Add to Your Watchlist?
Penny stocks involved in the clean energy industry have received heightened attention with the recent emphasis on renewables. In the last few years, many penny stocks have shifted their focus to reducing carbon output as a way to stay current with the times. This has benefitted clean energy penny stocks in a big way. The need for cleaner energy has been a problem for several decades now, but only recently have political and economic actions began to take shape.
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Treeletrik Enters Partnership To Supply 200,000 Electric Motorbikes To Indonesia
Treeletrik Enters Partnership To Supply 200,000 Electric Motorbikes To Indonesia
Apr 20, 2021
Homegrown electric vehicle maker, Tree Technologies Sdn Bhd (also known as Treeletrik), has signed a partnership deal to supply 200,000 electric motorbikes to Indonesia. The company will supply its Treeletrik electric motorbikes via distributors, PT Pasifik Sakti Enjiniring and Nahdatul Ulama Board (PBNU).
This partnership will expand Treeletrik’s regional presence and reinforce its position as a key player in promoting electric mobility, supporting ASEAN’s energy transition agenda. Tree Technologies is a subsidiary of Ideanomics (NASDAQ: IDEX), which is headquartered in USA and has operations China, Ukraine, Malaysia and USA. Ideanomics acquired 51% ownership of Treeletrik in 2019. The company had since begun organising itself for growth in the ASEAN region to tap the region’s heavy reliance on two- a
15 Apr 2021 / 21:39 H.
PETALING JAYA: Tree Technologies Sdn Bhd (Treeletrik), a Malaysian home-grown electric vehicles (EV) maker with a presence in the Asean market and a subsidiary of Nasdaq-listed Ideanomics, has signed a partnership to supply 200,000 units of its fully electric motorbikes to Indonesia via distributors PT Pasifik Sakti Enjiniring and the Nahdatul Ulama Board (PBNU).
The partnership extends Treeletrik’s regional presence as a key player in promoting electric mobility, supporting Asean’s energy transition agenda.
The partnership positions Malaysia as a key EV manufacturer and first regional supplier to export units in Asean, in line with the region’s evolving energy landscape. The region’s ultimate goal of decreasing the level of final energy consumption in the road transport sector by 2040 paves the way for EV makers like Treeletrik to continue building a progressive EV ecosystem.
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At last check in premarket trading, shares of Ideanomics Inc. (IDEX) were up 2.55% at $2.81. IDEX stock closed last session at $2.74, increasing 1.11% or $0.03. Shares of the company fluctuated between $2.725 and $2.95 throughout the day. The number of shares exchanged was 33.83 million, greater than the IDEX stock’s 50-day daily volume of 30.32 million and lower than its Year to date volume of 41.11 million. In the past 12 months, the company’s stock has advanced 260.19%, and in the last week, the stock has moved down -9.57%. For the last six months, the IDEX stock has gained a total of 174.11%, and over the last three months, the stock has decreased by -4.86%. The stock has returned 37.69% so far this year.