Ideanomics’ Signs Deal With City of Qingdao For One-of-A-Kind Commercial EV Sales and Financing Center

Press Releases

Nov 27, 2019

NEW YORK, Nov. 27, 2019 /PRNewswire/ — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), has today announced an agreement with Chengyang Investment Corporation, representing the Chenyang District of Qingdao, Shandong province.

The deal sees Ideanomics’ MEG division acquire a large-scale facility for the promotion of its battery partners, as well as its manufacturer alliance, for the benefit of large-scale fleet operators looking to transition to clean energy vehicles. The facility will be a one-of-a-kind showcase, enabling EV manufacturers and EV technology partners a venue focused entirely on EV, EV infrastructure, and financing solutions. The facility, already built, will be renovated as part of the deal, and is expected to come online in 2020, showcasing vehicles and related technologies in each of MEG’s four key segments.

“The representatives for Chenyang district, and the city of Qingdao, made it clear to Ideanomics that they would develop an attractive economic package to secure this one-of-a-kind focal point for China’s EV industry, managed by our MEG division,” said Alf Poor, CEO of Ideanomics. “I was very impressed with their forward-thinking approach when visiting the city of Qingdao and the facility in October, as they clearly understood the vision and were ready to provide an incentive package to ensure these activities took place in Qingdao. The MEG facility in Chenyang district will benefit the entire EV industry, able to service both national interests in the PRC, as well as for our overseas operations. Ideanomics, its MEG division, and our EV partners are thrilled to have this initiative call Qingdao home.”

Ideanomics’ MEG division operates in 4 key segments of commercial EV, which are off-the-road Heavy Duty commercial (such as Mining, Steel Mills, Airports, and Seaports), Light commercial last-mile logistics vehicles, Buses and Coaches, and Taxis.

About Ideanomics
Ideanomics is a global Financial Technology (Fintech) company for transformative industries. Ideanomics combines deal origination and enablement with the application of technologies such as artificial intelligence, blockchain, and others as part of the next- generation of smart financial services. Our projects in New Energy Vehicle markets, Fintech, and advisory services provide our customers and partners better efficiencies, technologies, and access to global markets. The Ideanomics Mobile Energy Global (MEG) its key EV operating segments are Heavy Duty commercial, for closed area environments, such as Mining, Steel Mills, Airports, and Seaports, Light commercial last-mile logistics vehicles, Buses and Coaches, and Taxis.

The company is headquartered in New York, NY, and has offices in Beijing, China. It also has a planned global center for Technology and Innovation in West Hartford, CT, named Fintech Village.

Safe Harbor Statement
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Investor Relations and Media Contact
Tony Sklar, VP of Communications
55 Broadway, 19th Floor New York, New York 10006
Email: ir@ideanomics.com