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.
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.
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