In the news release, Ideanomics MEG Announces Completion of Tianjin Zhongcheng Order, issued 26-Jun-2020 by Ideanomics over PR Newswire, we are advised by the company that the headline, 3rd subheadline and 5th paragraph have been updated from the originally issued release. The complete, corrected release follows:
Ideanomics MEG Announces that Tianjin Zhongcheng Order is Complete and Additional Orders to be Completed by the End of June
- Total order valued at RMB 31 Million or USD 4.4 Million
- Toyota brand vehicles fulfilled
- More orders are expected to be complete by the end of June 2020
NEW YORK, June 26, 2020 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announce that its Mobile Energy Global (MEG) subsidiary, Qingdao Ai Neng Ju New Energy Sales Company Ltd, based at its Qingdao EV hub has completed its order for Tianjin Zhongcheng Jiaye Automobile Trading Co., Ltd. (Tianjin Zhongcheng), which was recently announced on June 19, 2020.
In addition to the physical vehicle delivery, the financing, licensing, insurance, and vehicle registration plate administration are all complete. This allows for the issuance of PRC tax invoices, which can only be issued when an order is complete in its entirety. MEG has issued a tax invoice to Tianjin Zhongcheng finalizing the completion of this order.
As a recap, the order is for a total of 42 vehicles valued at RMB 31 Million, or USD 4.4 Million, or approximately USD 100,000 per vehicle. The order was fulfilled with Toyota Land Cruiser models and delivery was completed in the past few days. Images included in the press release are examples of the tax remittances with the bank account numbers redacted. The VIN numbers for all 42 vehicles are:
JTMHV01J4L5051276, JTMHV01J7K4282046, JTMHV01J7K5046328, JTMHV01J7K5047446, JTMHV01J7K5047835, JTMHV01J8K5047455, JTMHV01J8K5047536, JTMHV01J9K4285157, JTMHV01J9K5046377, JTMHV01J9K5046413, JTMHV01J9K5048503, JTMHV01JXK5046713, JTMHV01JXK5047473, JTMHV01JXK5048591, JTMHV01J6K5048507, JTMHV01J7K5048449, JTMHV01J7K5048533, JTMHV01J7K5048564, JTMHV01J0K4283720, JTMHV01J0K5045148, JTMHV01J0K5045599, JTMHV01J0K5046266, JTMHV01J0K5047031, JTMHV01J1K4281314, JTMHV01J1K4285511, JTMHV01J1K5045532, JTMHV01J1K5046759, JTMHV01J1K5047362, JTMHV01J1K5048446, JTMHV01J2K4281189, JTMHV01J2K5045426, JTMHV01J2K5046219, JTMHV01J2K5046902, JTMHV01J3K4286188, JTMHV01J3K4289088, JTMHV01J3K5044124, JTMHV01J9K5048386, JTMHV01JXK5045321,JTMHV01JXK5046324, JTMHV01J8K4288311, JTMHV01J9K5048436, JTMHV01J9K5048534
Of the purchased orders announced last month, most have secured financing and commenced delivery. These orders are expected to be fulfilled over the next two weeks, and Ideanomics will release updates accordingly.
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