Ideanomics commences electric taxi deliveries in Guilin

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Dongfeng Nissan Sylphy ZE 2020

Ideanomics is pleased to announce the commencement of electric taxi deliveries for Guilin, Guanxi Province. In November 2019, Ideanomics announced that its Mobile Energy Global (MEG) division secured an order for 2,300 electric taxis from the City of Guilin in Guanxi province though MEG’s partner QuianXi.

Ideanomics now expects delivery of the first 200 EV taxis within July 2020, beginning immediately and completing within the next three to four weeks. This order of will be comprised of Dongfeng Nissan Sylphy ZE vehicles, a regional version of the midsize sedan also known as the Nissan Sentra in other markets. The Sylphy is the best-selling Nissan model in China. The balance of order announced in November 2019 is expected to be delivered through the end of the year and will likely involve multiple manufacturers.

The initial 200 electric taxi delivery is valued at approximately RMB 20 Million or USD 2.8 Million. Ideanomics anticipates these vehicles will be booked on a gross basis, subject to the terms of the executed sales contract and in accordance with U.S. GAAP.

Ideanomics CEO Alf Poor commented that, as China’s economy would recover and businesses gradually resume their operations, Ideanomics would continue to execute on it’s business plans and grow it’s EV business.The company is pleased to announce the delivery and expect to build sales momentum throughout the year while redirecting resources from non-core businesses to help support growth in MEG.

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