NEW YORK, April 1, 2020 /PRNewswire/ --
Ideanomics, (NASDAQ: IDEX) ("Ideanomics" or the "Company"),
has today announced its MEG activities were fully operational and
back to work from Monday, March 30,
2019 and was able to successfully conclude three new vehicle
orders, from three different manufacturers, in the first 48
hours.
Hangzhou Dishi Auto Service Co., Ltd placed an order for 200
units of Roewe iE6 passenger cars, a luxury brand from Chinese auto
manufacturer SAIC.
Hangzhou Lufei Automobile Service Co., Ltd. placed an order for
100 units of Volkswagen Passat passenger cars.
Hangzhou Hanyao New Energy Vehicle Sales & Service Co., Ltd
placed an order for 300 units of Jiangling E2000 vans, from Chinese
auto manufacturer Jiangling Motors Corporation (JMC).
"These are the types of orders that will quickly become
commonplace, as part of our MEG sales activities. Future orders of
this nature will likely be rolled up into monthly updates as the
MEG activities mature, but at this time we felt it was important to
acknowledge that our staff were back at their desks as of Monday,
for the first time since the covid-19 outbreak began. Our MEG team
has shown tremendous resolve by working through the outbreak to
ensure the impact to our operations was minimized," said Alf
Poor, CEO of Ideanomics.
The US GAAP accounting for the $8.1
million revenue has not been finally determined.
Consequently, the revenue may be reported on a Gross or Net
basis.
About Ideanomics
Ideanomics (Nasdaq: IDEX) is a global
company focused on monetizing the adoption of commercial electric
vehicles, associated energy consumption, and developing next
generation financial services and Fintech products. Its
electric vehicle division, Mobile Energy Global (MEG) provides
financial services and incentives for commercial fleet operators,
including group purchasing discounts and battery buy-back programs,
in order to acquire large-scale customers with energy needs which
are monetized through pre-paid electricity and EV charging
offerings. Ideanomics Capital includes DBOT ATS and
Intelligenta which provide innovative financial services solutions
powered by AI and blockchain. MEG and Ideanomics Capital provide
our global customers and partners with better efficiencies and
technologies and greater access to global markets.
The company is headquartered in New
York, NY, and has offices in Beijing, China.
Safe Harbor Statement
This press release contains
certain statements that may include "forward looking statements".
All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties, and include
statements regarding our intention to transition our business model
to become a next-generation financial technology company, our
business strategy and planned product offerings, our intention to
phase out our oil trading and consumer electronics businesses, and
potential future financial results. Although the Company believes
that the expectations reflected in such forward-looking statements
are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of risks and uncertainties, such as risks related to: our
ability to continue as a going concern; our ability to raise
additional financing to meet our business requirements; the
transformation of our business model; fluctuations in our operating
results; strain to our personnel management, financial systems and
other resources as we grow our business; our ability to attract and
retain key employees and senior management; competitive pressure;
our international operations; and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our most recent Form 10-K and Form 10-Q
filed with the Securities and Exchange Commission, and similar
disclosures in subsequent reports filed with the SEC, which are
available on the SEC website at www.sec.gov. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these risk
factors. Other than as required under the securities laws, the
Company does not assume a duty to update these forward-looking
statements.
Investor Relations and Media Contact
Tony Sklar, VP of Communications at
Ideanomics
55 Broadway, 19th Floor New York, New
York 10006
Email: ir@ideanomics.com
www.ideanomics.com
Tel: +1.212.206.1216
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SOURCE Ideanomics