New York, NY -- (ReleaseWire) -- 09/17/2020 --Ideanomics Inc. announced 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 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.
https://ideanomics.com/
"The global electric vehicle market at $39.8 billion in 2018 is projected to reach $1.5 trillion by 2025. Units sales are anticipated to reach 97 million vehicles worldwide by 2025"
Source : Wintergreen Research, Inc