Total order valued at RMB 31 Million or USD 4.4 Million
NEW YORK, --- Ideanomics (NASDAQ: IDEX) announced that its Mobile Energy Global (MEG) Qingdao EV Hub has secured an order from Tianjin Zhongcheng Jiaye Automobile Trading Co., Ltd. (Tianjin Zhongcheng).
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 will be fulfilled with Toyota Land Cruiser models, and subject to final negotiations with manufacturers, financing, government licensing, etc., delivery of the vehicles to Tianjin Zhongcheng is expected to commence later this month.
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.