Ideanomics MEG Announces Completion of Tianjin Zhongcheng Order

From: Ideanomics
Published: Sat Jun 27 2020

Ideanomics (Nasdaq: IDEX) 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.

Ideanomics Business Model

Commercial EV Sales - Revenue Streams

Lease Financing Fund Supported

Cash & Non-Cash Fund Sales

Quingdao EV Hub Sales

Treeletrick Asean Sales

Energy Sales - Revenue Streams

Prepaid electricity sales for commercial fleets

EV fast Charging Network Sales

5G Smart City Energy Sales

Electricity Purchasing Card with China Union Pay
Company: Ideanomics

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