NEW YORK, May 6, 2020 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX) ("Ideanomics" or the "Company"), Mobile Energy
Global (MEG) division has today announced it has finalized its EV
and Energy business units under the S2F2C
(Sales-to-Financing-to-Charging) model. Each business unit has been
developed to focus on a key area of revenue, and is part of the
Company's plans to onboard diversified revenue streams as it scales
in Asia and beyond, having its own
team and revenue objectives to provide focus and accountability as
MEG activities scale in 2020 and beyond.
The Sales to Financing division's four key business segments are
built around Commercial EV sales and are: 1) Lease Financing Fund
Supported Sales; 2) Cash and Non-Fund Sales; 3) Qingdao EV Hub
Sales; 4) Treeletrik and Ex-China Sales.
The Charging division's four key business segments are focused
on energy sales and are: 1) Pre-paid Electricity Sales for
Commercial EV Fleets; 2) EV Fast-charging Network Sales; 3) 5G
Smarty City Energy Sales; 4) Consolidated Energy Purchasing Card
With China Union Pay.
"We are entering a period of high-growth for the Company, and
the business units have begun to take shape based on our EV order
flows and the predicted revenue streams for energy sales," said
Alf Poor, CEO of Ideanomics. "We've
been developing each business unit under our S2F2C model as the
demand for clean energy vehicles matures, adjusting according to
market conditions and opportunity. Our analogy internally has been
to create two thoroughbred race horses, each supported by four
strong hooves, capable of accelerating quickly and efficiently to
ensure we are well-placed to benefit from the uptick in EV and
clean energy consumption as it transitions from emerging market to
mainstream."
About Ideanomics
Ideanomics is a global company
focused on facilitating the adoption of commercial electric
vehicles and developing next generation financial services and
Fintech products. Its electric vehicle division, Mobile Energy
Global (MEG) provides group purchasing discounts on commercial
electric vehicles, EV batteries and electricity as well as
financing and charging solutions. 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 and Qingdao,
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
55 Broadway, 19th Floor New York, New
York 10006
Email: ir@ideanomics.com
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SOURCE Ideanomics