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Ideanomics announced September and third-quarter sales activity for MEG division

In September, MEG delivered a total of 423 units, while for the third quarter, the division delivered 626 units and invoiced an additional 440

Ideanomics Inc - Ideanomics announced September and third quarter sales activity for MEG division
MEG serves as the company's electric vehicle division

Ideanomics Inc (NASDAQ:IDEX) (FRA:0V5) has updated on the sales activities of its Mobile Energy Global (MEG) division for September and the third quarter of 2020. 

For the period starting September 1 to September 30, the company reported that MEG delivered a total of 423 units, while for the third quarter, running from July 1 to September 30, the division delivered 626 units and invoiced an additional 440, which are pending expected delivery. 

READ: Ideanomics welcomes fuel cell expert Dr Liqing Hu as chief scientist for Medici Motor Works

"We are very pleased that our MEG business experienced sequential growth, month-over-month, throughout [the third quarter], and the 440 units pending delivery gets [the fourth quarter] off to a strong start. This growth, fueled by a combination of previously announced deals and new deal origination, along with improvements in our operational efficiency, helps us achieve our goals for 2020 and sets the stage for growth at scale going into 2021," Ideanomics chief executive Alf Poor said in a statement.

Ideanomics is a company that facilitates the adoption of commercial electric vehicles (EVs) and supports next-generation financial services and fintech products. MEG, its electric vehicle division, provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity, as well as financing and charging solutions.

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Quick facts: Ideanomics Inc

Price: 2.215 USD

Market: NASDAQ
Market Cap: $586.54 m

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