The Open Press - Press Release News Wire
  Thursday, January 28th 2021 - 4:44am EST
PRESS RELEASE NEWS WIRE         
     FRONT PAGE     |     ARCHIVES     |     ABOUT US     |     FAQS      
Welcome Guest User  ( LOG IN )      SUBMIT A RELEASE   ADD A FIRM   
Sorting Options

By Country

By Metro Area

By Industry

Member Options


Register

Login

Recover Password

Email Alert
Site Navigation

Home

Services & Fees

Press Release Guidelines

Submit a Press Release

Company Directory

Contact Us

RSS Feeds

Help

|Press Releases|Pro PRs|Book Reviews|Articles (OP-ED)|News|Exposé|PR Firms|


Ideanomics Reported Q2 Revenue of $4.7 million and Forecasts Quarter-over-Quarter EV Sales Growth in Q3 and Q4 2020

Submitted by: David Joseph Marketing

2020-09-21 21:59:08

"The global electric vehicle market at $39.8 billion in 2018 is projected to reach $1.5 trillion by 2025. Units sales are anticipated to reach 97 million vehicles worldwide by 2025."
- Wintergreen Research Inc.

There are many investment opportunities for investors who want to capitalize on the growing EV industry. One company that is doing creative business in the EV sector is Ideanomics Inc. (Nasdaq-IDEX).

Ideanomics current focus is on commercial electric vehicle acquisitions and assisting commercial fleet operators with transitioning from their gas & diesel fleets through a procurement, lease financing, insurance, government rebates and subsidies, battery purchases and prepaid energy supply process and therefore providing "End to End" EV services.

Ideanomics names their platform "Sales to Financing to Charging" (S2F2C) business model.
Commercial fleet vehicles include heavy- duty trucks, logistic vehicles, buses, taxis, couriers, and the like.

China currently has an estimated 11 million heavy- duty trucks and off-road vehicles, 14 million delivery vehicles, 1.6 million city and tourist buses, 1.2 million taxis/ride-sharing vehicles, and more than 100,000 gas stations which are going to be converted into battery charging stations.
Ideanomics is doing business with these Chinese commercial fleet operators and is providing EV acquisitions, wholesale and pre-paid electricity or discounted access to Ideanomics' preferred partner charging stations, which will be a recurring revenue stream for the Company.

Ideanomics established a new division named the Medici Motor Works to manufacture and sell EV Trucks, Vans & Bus into North America and other parts of the world.

To operate successfully in China Ideanomics has Chinese American entrepreneur billionaire Dr. Bruno Wu, who is the Chairman of Ideanomics who owns a 19% equity stake in the Company. Dr. Bruno Wu's wife, Yang Lan, is a high-profile Chinese media personality who is often referred to as the Oprah Winfrey of China.

Vice Chairman Mr. Shane McMahon owns 4% and is from the multi billionaire American McMahon family which owns World Wresting Entertainment. (WWE)

Ideanomics recently reported Q2 revenue of $4.7 million, up from $378,000 in Q1. The Company ended the quarter with reducing its debt by ~ 50% and US$36.4 million in cash, which it says could be used for acquisitions later this year. IDEX called the second quarter its best mobile energy results since moving into electric vehicle sales. Further, Ideanomics forecasts quarter-over-quarter growth in Q3 and Q4 2020.

Another important component of IDEX's future growth will come from its 51% majority ownership of Treeletrik, an approved electric vehicles manufacturer and distributor for Malaysia. As Treeletrik expands its product line to electric vehicle E bikes, mopeds, cars, and light rail cars and serving the 650 million people in the ASEAN region which includes Malaysia, Cambodia, Vietnam, Philippines, Indonesia, Laos, Singapore, and Brunei.

As the global EV sector continues its current growth trajectory with China being the largest EV market in the world, making up 57% of the global market as of April 2020; along with a market cap of $250 M and strong institutional and fund ownership with shareholders like BlackRock, Vanguard, State Street, Charles Schwab, Barclay's, and Fidelity, Ideanomics is well positioned to take advantage of this growth and capitalize on the EV market and provide investors with an opportunity for significant ROI.






Contact Info

David Joseph Marketing
Phone: 6046199192
Website: http://www.davidjosephmarketing.com
1357 41 Ave E


 


Copyright © 2021
The Open Press - Professional Press Release News Wire.
All rights reserved.


   Home|About Us|Archives|Faqs|Services & Fees|Guidelines|Submit Release|Register|Privacy Policy|Contact Us|RSS Feeds|Email Alert