– Total order valued at RMB 24 Million or USD 3.2 Million
– Order will be fulfilled with Dongfeng Liuzhou S50EV models
– Delivery expected to be completed by mid-July 2020
NEW YORK, June 22, 2020 /PRNewswire/ — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce that its subsidiary Mobile Energy Global (MEG) has secured an order from the city of Neijiang in Sichuan Province.
The order is for a total of 200 electric vehicles (EVs) valued at RMB 24 Million, or USD 3.2 Million, or approximately USD 16,000 per vehicle. The order will be fulfilled with Dongfeng Liuzhou S50EV models and, subject to final negotiations with manufacturers, financing, government licensing, etc., delivery of the vehicles to Neijiang City is expected to be completed mid-July.
The US GAAP accounting treatment for the anticipated revenue from the above orders will not be finalized until the order transactions complete. Consequently, the revenue may be reported on a Gross or Net basis and some portion may be deferred to future accounting periods.
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.
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