Ideanomics MEG Announces Completion of Tianjin Zhongcheng Order

NEW YORK - EntSun -- Ideanomics 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.

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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

https://ideanomics.com/