AsiaNet 87417

NEW YORK, Dec. 28, 2020 /PRNewswire=KYODO JBN/ --

- 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

Ideanomics (

https://c212.net/c/link/?t=0&l=en&o=3022540-1&h=3600490162&u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2605015-1%26h%3D3496217845%26u%3Dhttp%253A%252F%252Fwww.ideanomics.com%252F%26a%3DIdeanomics&a=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.

Photo - https://mma.prnewswire.com/media/1392323/byd_d1.jpg

Logo - https://mma.prnewswire.com/media/738482/Ideanomics_Logo.jpg

"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 (

https://c212.net/c/link/?t=0&l=en&o=3022540-1&h=1036246338&u=http%3A%2F%2Fwww.ideanomics.com%2F&a=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