Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce that its subsidiary Mobile Energy Global (MEG) has secured an order from the city of Neijiang in Sichuan Province.
The order is for a total of 200 electric vehicles (EVs) valued at RMB 24 Million, or USD 3.2 Million, or approximately USD 16,000 per vehicle. The order will be fulfilled with Dongfeng Liuzhou S50EV models and, subject to final negotiations with manufacturers, financing, government licensing, etc., delivery of the vehicles to Neijiang City is expected to be completed mid-July.
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.