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Ideanomics Reports 503 EV Units Processed for July & August an Increase from Q2

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Ideanomics Reports 503 EV Units Processed for July & August an Increase from Q2

September 16
02:46 2020
Ideanomics Reports 503 EV Units Processed for July & August an Increase from Q2

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Ideanomics Announces MEG’s July and August Activity:

• 203 Units Delivered in July and August

• 557 Units Invoiced in July and August

NEW YORK – Sep 15, 2020 – Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce its Mobile Energy Global (MEG) division’s activity from the period starting July 1, 2020, and ending August 31, 2020.

MEG activities during the period of July 1, 2020 through August 31, 2020 were as follows:

Vehicle Type

Units Invoiced
(pending expected delivery)

Units Delivered

Heavy Trucks

25

Taxis/Ride-Hailing

557

178

TOTAL UNITS

557

203

“Units Delivered” refers to vehicles which have been delivered to customers, and Ideanomics has obtained the delivery notes. “Units Invoiced (pending expected delivery)” refers to customer orders where sales invoices have been issued and units ordered are still pending expected delivery. Delivery dates vary according to the type of vehicle and manufacturer availability.  

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.

About Ideanomics

Ideanomics is a global company that facilitates the adoption of commercial electric vehicles and supports next-generation financial services and fintech products. Our 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; we refer to this business model as sales to financing to charging (S2F2C). Ideanomics Capital provides fintech services that include intelligent and innovative solutions powered by AI and blockchain. Together, MEG and Ideanomics Capital provide our global customers and partners with more efficient solutions for a greener economy.

The company is headquartered in New York, NY, with offices in Beijing, Guangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.

Media Contact
Company Name: David Joseph Marketing
Contact Person: David Joseph
Email: Send Email
Phone: 16046199192
Address:1357 East 41st Ave
City: Vancouver
State: BC
Country: Canada
Website: https://davidjosephmarketing.com/

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