MEG Announces Purchase Agreement for 2,000 Units of D1, BYD's Custom Electric Ride-hailing Vehicle
December 28 2020 - 9:47AM
InvestorsHub NewsWire
MEG Announces Purchase Agreement for
2,000 Units of D1, BYD's Custom Electric Ride-hailing Vehicle
- - MEG's Qingdao Medici enters into a purchase agreement for an
initial 2,000 units of model BYD D1
- - BYD D1 is the world's first custom-built, all electric car
specifically for ride-hailing with smart technology, safety, and
comfort features for both drivers and passengers
- - Through the Didi Chuxing app, passengers can hail this
customized online car in multiple cities
NEW YORK, Dec. 28, 2020 -- InvestorsHub
NewsWire -- 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 an
initial 2,000 units of model BYD D1. The ride-hailing vehicles are
intended for deployment in multiple cities within China, with
deliveries expected to begin in H1 2021.
BYD D1 is the world’s first custom-built, all-electric car
specifically for ride-hailing with smart technology, safety, and
comfort features for both drivers and passengers.
"The D1 is a very thoughtfully designed ride-hailing EV and is a
culmination of the latest design and technology to bring drivers
and their customers an enjoyable travel experience. We are very
pleased to work with Meihao Chuxing and BYD to promote the sales of
the D1," said Alf Poor, Ideanomics CEO. "Supported by a viable
government subsidy program, the proliferation 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 the
rollout of more innovative vehicles like the D1 to our taxi and
ride-hailing customers."
Meihao Chuxing (Hangzhou) Automobile Technology Co., Ltd. was
established in 2019, though a 65/35 joint venture between BYD and
Didi with BYD having controlling interest. Launched
in November 2020, model BYD D1 was jointly developed by BYD
and Didi as the world's first custom-built, all electric car for
ride-hailing. The vehicles feature L2 Assisted Driving system, are
linked with a fleet management system that helps large fleet
operators track and optimize operational status, real-time energy
management, as well as a myriad 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 deploying and
promoting the ride-hailing service in a number of Chinese cities.
Passengers can order the customized ride-sharing service via the
Didi app.
Please refer to the company's 8-k filings for
further material details of the agreement
About BYD
BYD Company Ltd. is one of China's largest privately
owned enterprises. Since its inception in 1995, the company quickly
developed solid expertise in rechargeable batteries and became a
relentless advocate of sustainable development, successfully
expanding its renewable energy solutions globally with operations
in over 50 countries and regions. Its creation of a Zero Emissions
Energy Ecosystem – comprising 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 listed on the Hong
Kong and Shenzhen Stock Exchanges. More information on the
company can be found at www.byd.com.
About Ideanomics
Ideanomics is a global company focused on the
convergence of financial services and industries experiencing
technological disruption. Our Mobile Energy Global (MEG) division
is a service provider that facilitates the adoption of electric
vehicles by commercial fleet operators through offering vehicle
procurement, finance and leasing, and energy management solutions
under our innovative sales to financing to charging (S2F2C)
business model. Ideanomics Capital is focused on disruptive fintech
solutions for the financial services industry. Together, MEG and
Ideanomics Capital provide our global customers and partners with
leading 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, Hangzhou, and Qingdao, and operations in
the U.S., China, Ukraine, and Malaysia.
Safe Harbor Statement
This press release contains certain statements that may include
"forward looking statements". All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties, and include statements regarding our intention
to transition our business model to become a next-generation
financial technology company, our business strategy and planned
product offerings, our intention to phase out our oil trading and
consumer electronics businesses, and potential future financial
results. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
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
could 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 as
a going concern; our ability to raise additional financing to meet
our business requirements; the transformation of our business
model; fluctuations in our operating results; strain to 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 disclosed under the
sections entitled "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in 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 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. Other than as required under the
securities laws, the Company does not assume a duty 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
ir@ideanomics.com
Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com
SOURCE Ideanomics
Related Links
http://www.ideanomics.com
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