Ideanomics' MEG Secures First Order for Qingdao EV Hub

NEW YORK, May 18, 2020,Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), Mobile Energy Global (MEG) division has today announced its Qingdao subsidiary Qingdao Chengyang Ainengju New Energy Sales and Service Co., Ltd has secured its first EV order from a Hangzhou-based customer for 130 EV units from SAIC's Roewe brand.

The order value is approximately RMB 17.5 Million (approx. USD 2.5 Million), and is comprised of 80 units of Roewe's 2019 model ei6 Honor 80 Deluxe Edition, 20 units of its 2020 EX5 vehicle, and 30 units of its ei5 2020 Deluxe Edition. The order is for immediate delivery and anticipated to be completed within the second quarter. Qingdao Chengyang Ainengju New Energy Sales and Service Co., Ltd assisted with financing and purchase activities on behalf of its customer.

"We are very pleased to have secured this first meaningful order for our Qingdao center, particularly as the customer required financing assistance with its EV orders," said Alf Poor, CEO of Ideanomics. "Our MEG team was able to fulfill this quickly and efficiently, through our Qingdao subsidiary, getting the customer the terms they needed. This type of order is precisely why we developed our S2F2C model, and we're delighted our Qingdao activities are underway."

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 our global customers and partners with better efficiencies and technologies and greater access to global markets.

The company is headquartered in New York, NY, and has offices in Beijing and Qingdao, China.

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