Ideanomics Announces MEG December and Q4 Sales Activity
Ideanomics (NASDAQ: IDEX) reported on sales activities from its Mobile Energy Global (MEG) division for December 2020 and Q4 2020. MEG delivered 439 units, including 356 for taxi/ride-hailing and 83 for rental cars. Additionally, the quarter saw the delivery of one charging system and 13 CATL battery systems for converting diesel buses to battery electric vehicles. Notably, the report does not account for a new deal with BYD and Didi for 2,000 D1 ride-hailing vehicles. The company maintains its focus on supporting electric vehicle adoption through innovative financing and energy management solutions.
- Delivered 439 units in December, indicating strong demand.
- 356 units were for the taxi/ride-hailing segment, showcasing market penetration.
- Initiated a partnership with BYD and Didi for 2,000 ride-hailing vehicles.
- No revenue figures or financial metrics were provided.
- Exclusion of new deals from reported sales could indicate potential future sales volatility.
NEW YORK, Jan. 15, 2021 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") announces its Mobile Energy Global (MEG) division's sales activities for the month of December and Q4 2020.
For the period starting December 1, 2020, through December 31, 2020, MEG delivered a total of 439 units, of which 356 were for the taxi/ride-hailing business segment, and the remaining 83 were for the rental car business segment. All units, invoiced during the period from July through December 2020, were delivered. The fourth quarter's activities also include the delivery of one charging system and 13 CATL battery systems which are part of an ongoing order for converting diesel-powered buses to battery electric vehicles (BEVs). The fourth quarter results do not include any units from the recently announced deal with BYD and Didi for 2,000 units of their D1 ride hailing vehicle.
About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.
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
Ideanomics,Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com
Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com
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SOURCE Ideanomics
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