NO COVID -19 - Ideanomics Announced Operations Resumed and New $7B Fund

By: PRLog

A New $7B Fund, Ideanomics Reports Qingdao City Construction Investment Group Enters into Agreement with Sun Seven Stars Investment Group to Fund Ideanomics' Electric Vehicle Lease Financing

VANCOUVER, British Columbia - April 7, 2020 - PRLog -- NEW YORK,  Ideanomics, (NASDAQ: IDEX) announced that the Qingdao City Construction Investment Group Limited  (QCCIG) has entered into framework strategic cooperation agreement with Sun Seven Stars Investment Group Limited (Sun Seven) to raise up to RMB 50 Billion (USD 7 Billion) fund to finance investment projects in Qingdao and Shandong Province. The required funds are provisionally committed by insurance companies.

Approximately 20% of the new fund will be earmarked to finance the purchase of electric vehicles (EVs) to replace existing gas-powered fleets in Shandong province. The fund will sign an agreement with Ideanomics' Mobile Energy Group (MEG) once it is fully formed and the funds are in place to provide MEG financing for EVs based on its S2F2C (Sales to Financing to Charging) model will be the beneficiary of these funds through MEG's EV sales, leasing and financing services, and charging-related energy sales.

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, China.

David Joseph

Photos: (Click photo to enlarge)

EV Car EV Bus Ev Scooter EV Trucks Ideanomics

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