NetworkNewsBreaks – Ideanomics (NASDAQ: IDEX) Announces Strong May Vehicle Sales at MEG Center
Jun 10, 2020
Ideanomics (NASDAQ: IDEX) on Tuesday announced that auto dealers operating in its subsidiary, Mobile Energy Global’s (“MEG”) expo center in Qingdao, have sold 2,139 vehicles for a total value of RMB 235 Million or USD 33 Million. According to the update, the MEG Center in Qingdao began operations on May 1 and based on the level of sales activity in the first week of June, this month’s sales are expected to exceed May levels. “The region loosened restrictions on business activities in early May, so we are very pleased with the Center’s high levels of activity at this early stage. The Center’s solid customer foot traffic indicates that the country’s economy is on a steady path to recovery and there is a strong appetite for passenger and commercial vehicle sales which bodes well for MEG,” Ideanomics Chairman Dr. Bruno Wu stated in the news release. “The initial activity combined with the projected growth for the remainder of 2020 reinforces our belief that the MEG Center will be a material source of revenue for Ideanomics.”
To view the full press release, visit http://nnw.fm/9uCr5
About Ideanomics
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 global customers and partners with better efficiencies and technologies and greater access to global markets. For more information, visit www.Ideanomics.com.
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