– MEG’s Qingdao Medici signs a contract to purchase 2,000 initial units of the BYD D1 model
– BYD D1 is the world’s first custom-made all-electric car, specifically for greeting with smart technology, safety and comfort features for drivers and passengers
– Through the Didi Chuxing app, passengers can greet this personalized car online in several cities
NEW YORK, December 28, 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 purchase 2,000 initial units of the BYD D1 model. Signaling vehicles are intended for implantation in several cities within China, with deliveries scheduled to begin in the first half of 2021.
“The D1 is a beautifully designed VE and is the culmination of the latest design and technology to provide drivers and their customers with an enjoyable travel experience. We are delighted to be working with Meihao Chuxing and BYD to promote D1 sales,” said Alf Poor, CEO of Ideanomics. “Supported by a viable government subsidy program, the proliferation of EVs in China it is proof of the value that public and private partnerships can add to large-scale global challenges. We hope to develop this type of partnership and launch more innovative vehicles, such as the D1, for our taxi and passenger customers. “
Meihao Chuxing (Hangzhou) Automobile Technology Co., Ltd. was established in 2019, through a 65/35 joint venture between BYD and Didi, with BYD having the controlling interest. Launched in November 2020, the BYD D1 model was jointly developed by BYD and Didi as the world’s first all-electric car made to order to receive rides. The vehicles have an L2 assisted steering system and are linked to a fleet management system that helps large fleet operators to track and optimize operational status, real-time energy management, as well as a multitude of other safety and comfort features. . BYD D1 is equipped with its latest blade battery (LFP chemistry) with a range of 418 km (260 miles) and can reach top speeds of 130 km / h (81 mph). Didi Chuxing is implementing and promoting the greeting service in several Chinese cities. Passengers can request a personalized ride sharing service through the Didi app.
Consult the company’s 8-k files for more material details of the agreement
About BYD
BYD Company Ltd. is one of From China largest private companies. Since its inception in 1995, the company has rapidly developed a solid experience in rechargeable batteries and has become a relentless supporter of sustainable development, successfully expanding its renewable energy solutions globally with operations in more than 50 countries and regions. The creation of a Zero Emission Energy Ecosystem – comprising affordable solar power generation, reliable energy storage and cutting-edge electrified transport – has made it an industry leader in the energy and transportation sectors. BYD is listed on 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 focused on the convergence of financial services and sectors that are experiencing a technological rupture. Our Mobile Energy Global (MEG) division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators by offering vehicle acquisition, finance and leasing, and energy management solutions in our innovative business model. from sales to collection financing (S2F2C). Ideanomics Capital is focused on innovative fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our customers and global partners with cutting-edge technologies and services designed to improve transparency, efficiency and accountability, and our shareholders with the opportunity to participate in high potential growth industries.
The company is headquartered in New York, NY, with offices in Beijing, Hangzhouand Qingdaoand operations in the U.S., China, Ukraineand Malaysia.
Safe Harbor Statement
This press release contains certain statements that may include “forward looking statements”. All statements, except statements of historical facts, included in this document are “forward-looking statements”. These forward-looking statements are often identified by using forward-looking terminology, such as “believes”, “expects” or similar expressions, involves known and unknown risks and uncertainties and includes statements about our intention to transition our business model to become one. state-of-the-art financial technology company, our business strategy and planned product offerings, our intention to phase out our oil and consumer electronics business and potential future financial results. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and those expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results may differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue operating; our ability to obtain additional financing to meet our business needs; the transformation of our business model; fluctuations in our operating results; overburden our personnel management, financial systems and other resources as we expand our businesses; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed in the sections entitled “Risk Factors” and “Discussion of Management and Analysis of Financial Condition and Results of Operations” on our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC’s website 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 securities laws, the Company does not assume the duty to update these forward-looking statements.
Investor relations and contact with the media
Ideanomics, Inc.
Tony Sklar, Senior Vice President of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018
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Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
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SOURCE Ideanomics