– Qingdao Medici of MEG concludes a purchase agreement for an initial 2000 units of the model BYD D1
– BYD D1 is the first electric car, specially designed for the world, with smart technology, safety and comfort for drivers and passengers.
– Through the Didi Chuxing app, passengers can greet this customized online car in various cities
NEW YORK, 28 December 2020 / PRNewswire / – Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) announces that its Mobile Energy Global (“MEG”) and its contracting entity Qingdao Chengyang Medici have signed an agreement with Meihao Chuxing, a joint venture between BYD and Didi, to initially acquire 2000 units of the model BYD D1. The vehicles are intended for deployment in several cities within China, with deliveries expected to begin in H1 2021.
“The D1 is a very thoughtful, well-designed design ride EV and is a highlight of the latest design and technology to provide drivers and their customers with a pleasant travel experience. We are very pleased to partner with Meihao Chuxing and BYD the sales of the D1, ‘said Alf Arme, CEO of Ideanomics. “Supported by a viable government subsidy program, the distribution of EVs in China is a testament to the value that public and private partnerships can bring to large-scale global challenges. We look forward to developing these types of partnerships and applying more innovative vehicles such as the D1 to our taxi and ride customers. ‘
Meihao Chuxing (HangzhouAutomobile Technology Co., Ltd., was established in 2019, although a 65/35 joint venture between BYD and Didi with BYD has a controlling interest. Start in November 2020, the model BYD D1 was jointly developed by BYD and Didi as the world’s first, specially manufactured, electric motor for driving. The vehicles have the L2 Assisted Driving system, coupled with a fleet management system that helps major fleet operators track and optimize operational status, real-time energy management, as well as a host of other safety and convenience features. BYD D1 is equipped with its latest Blade Battery (LFP chemistry) with a range of 418 km (260 miles) and can reach a top speed of 130 km / h (81 mph). Didi Chuxing uses and promotes the ride service in a number of Chinese cities. Passengers can order the customized ride sharing service via the Didi app.
Consult the 8-k files of the company for further material details of the agreement
About BYD
BYD Company Ltd. is one of China’s largest private enterprises. Since its inception in 1995, the company has rapidly developed expert expertise in rechargeable batteries and has become a relentless proponent of sustainable development, successfully expanding its renewable energy solutions worldwide with operations in more than 50 countries and regions. The creation of a zero-emission energy ecosystem – which includes affordable solar power generation, reliable energy storage and cutting-edge electrified transportation – has made it an industry leader in the energy and transportation sectors. BYD is on the Hong Kong and Shenzhen Stock Exchanges. More information about the company can be found at www.byd.com.
About Ideanomics
Ideanomics is a global company focusing on the confluence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider that facilitates the acceptance of electric vehicles by commercial fleet operators through vehicle procurement, financing and leasing and energy management solutions among our innovative sales to financing to levy (S2F2C). Ideanomics Capital focuses on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital offer our global customers and partners cutting-edge technologies and services designed to enhance transparency, efficiency and accountability, and our shareholders the opportunity to participate in high-potential growth products.
The head office of the company is New York, NY, with offices in Beijing, Hangzhou, en Qingdaoand operations in the USA, China, Ukraine, en Malaysia.
Safe Harbor Statement
This press release contains certain statements that may include “forward-looking statements”. All statements except statements of historical facts contained herein are ‘forward-looking statements’. These forward-looking statements are often identified through the use of forward-looking terminology, such as “believe”, “expect” or similar expressions, they contain known and unknown risks and uncertainties, and contain statements regarding our intention to change our business model to a next-generation financial technology venture, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics ventures, and potential future financial results. While the Company believes that the expectations reflected in such forward-looking statements are reasonable, it does involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not unnecessarily rely on these forward-looking statements, which only apply on the date of this press release. The Company’s actual results may differ materially from those anticipated in these forward-looking statements due to a variety of risks and uncertainties, such as the risks associated with: our ability to proceed as a going concern; our ability to raise additional funding to meet our business requirements; the transformation of our business model; fluctuations in our operating results; pressure on our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties filed under the sections entitled ‘Risk Factors’ and ‘Discussion and analysis of the financial condition and results of operations’ in our most recent Form 10-K and Form 10-Q at the Securities and Exchange Commission, and similar disclosures in subsequent reports submitted to the SEC, which are available on the SEC Web site at www.sec.gov. All forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Except as required by the security laws, the company does not accept the obligation to update these forward-looking statements.
Investor relations and media contact
Ideanomics, Inc.
Tony Sklar, SVP of investor relations
1441 Broadway, Suite 5116 New York, NY 10018
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Valerie Christopherson / Lora Wilson
Global Results Communication (GRC)
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SOURCE Ideanomics