Ideanomics' MEG Sales Subsidiary to Open Large EV Facility in the City of Qingdao

NEW YORK - March 6, 2020 - PRLog -- Ideanomics Inc. announced as follow up to their partnership with the City of Qingdao and in conjunction their our MEG Group subsidiary, Qingdao Mobile New Energy Vehicle Sales Co. Ltd., activities of its flagship sales, support, and maintenance center in the City of Qingdao.

The 100,000 square meter (1 million square feet) facility will host a state-of-the-art sales and service center for new and used passenger and commercial Electric Vehicles (EV), and on-site financing, insurance, and vehicle registration services.

This new state-of-the-art center will assume the current vehicle sales and revenue activities at the site, which the City of Qingdao has committed to the Qingdao Mobile New Energy Vehicle Sales Co. Ltd. by injecting the existing business that they have projected to reach ¥1 Billion RMB (approx. $144M US) by year-end 2020 and grow to over ¥2 Billion RMB (approx. $288M US) in 2021, based on their 2019 actual turnover. .

The company is headquartered in New York, NY, and has offices in Beijing, China.

https://ideanomics.com/