NEW YORK, June 8, 2020 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to
announce the commencement of electric taxi deliveries for Guilin,
Guanxi Province. In November 2019,
Ideanomics announced that its Mobile Energy Global (MEG) division
secured an order for 2,300 electric taxis from the City of Guilin
in Guanxi province though MEG's partner QuianXi.
Ideanomics now expects delivery of the first 200 EV taxis within
July 2020, beginning immediately and
completing within the next three to four weeks. This order of will
be comprised of Dongfeng Nissan Sylphy ZE vehicles, a regional
version of the midsize sedan also known as the Nissan Sentra in
other markets. The Sylphy is the best-selling Nissan model in
China. The balance of order
announced in November 2019 is
expected to be delivered through the end of the year and will
likely involve multiple manufacturers.
The initial 200 electric taxi delivery is valued at
approximately RMB 20 Million or
USD 2.8 Million. Ideanomics
anticipates these vehicles will be booked on a gross basis, subject
to the terms of the executed sales contract and in accordance with
U.S. GAAP.
"As China's economy recovers and businesses gradually resume
operations, Ideanomics continues to execute on its business plans
and grow its EV business," said Ideanomics CEO Alf Poor. "We are pleased to announce this
delivery and expect to build sales momentum throughout the year
while redirecting resources from non-core businesses to help
support growth in MEG."
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