NEW YORK, Sept. 24, 2019 /PRNewswire/ -- Ideanomics Inc. (Nasdaq: IDEX) and its strategic Mobile Energy Group ("MEG") has today announced several key appointments to its Mobile Energy Group (MEG), to support its ongoing activities and growth.

Zhu Jun has been appointed Chief Operating Officer (COO) and will oversee the group operations. Mr. Zhu is an experienced executive, having previously held management positions for the past ten years in the automotive industry. Most recently, Mr. Zhu was General Manager for the Clean Energy Division of Zhejiang Kangsheng Co., Ltd. (also known as KASUN Group) and previously served as Executive Vice President of Chengdu-based Zhongzhi New Energy Vehicle Co., Ltd.  

Li Hao has been appointed Head of MEG's Smart Energy Division, overseeing its energy marketplace and charging network revenue segment. Mr. Li joins MEG having previously been the President of Shenshang Energy.

Zhao Kang has been appointed Head of Financing and Battery Operations within MEG, overseeing its financing and leasing partner offerings, including EV battery leasing and replacement financing. Mr. Zhao has extensive experience in large-scale corporate finance and joins MEG from China's only all-electric ride hailing firm Shenma (also known as iUnicorn) where he recently served as President. Mr. Zhao has also been an independent board member for Ideanomics for the past several years, a position he recently began transitioning out of.

"We are very pleased to welcome Mr. Zhu, Mr. Li, and Mr. Zhao to our MEG division. It was a pleasure getting to know them better when they joined us for several key meetings in China this past week," said Alf Poor, CEO of Ideanomics. "These are extremely important hires for our MEG group activities that will help us scale the business profitably and efficiently. Having these experienced professionals on board will help us further deliver on our objectives as the group enters a period of significant growth over the coming quarters. Each of them brings considerable experience in their field of expertise, providing us with deep knowledge and industry relationships in the areas of automotive, clean energy, and large-scale financing. Now that we are deriving revenues from our MEG activities, it was time to confidently make these key hires. We're extremely pleased to have been able to attract this type of executive talent quickly and efficiently, which is a testament to our growing reputation in the meaningful areas of the EV industry and the size of the opportunity our MEG activities represents."

Ideanomics' MEG group is currently exploring locations for its headquarters, with the historic city of Xi'an among the cities under consideration. The Group will establish a flagship location to support its growing presence in China's EV industry, and to help it recruit additional management talent in the coming months. Similarly, it is looking to establish a regional headquarters in Singapore, to support its ASEAN and non-China activities in the Asia Pacific region.

About Ideanomics

Ideanomics is a global Financial Technology (Fintech) company for transformative industries. Ideanomics combines deal origination and enablement with the application of technologies such as artificial intelligence, blockchain, and others as part of the next- generation of smart financial services. Our projects in New Energy Vehicle markets, Fintech, and advisory services provides our customers and partners better efficiencies, technologies, and access to global markets.

Ideanomics, through its investments and, along with its partners curate innovation around the globe through hubs and centers that foster a pipeline of technological excellence in cleantech, fintech, tradetech, agritech, regtech, insuretech, playtech, healthtech, cyber security, and more.

The company is headquartered in New York, NY, and has offices in Beijing, China. It also has a planned global center for Technology and Innovation in West Hartford, CT, named Fintech Village.

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, which involve known and unknown risks and uncertainties include these 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 ContactTony Sklar, VP of Communications at Ideanomics 55 Broadway, 19th Floor New York, New York 10006 Email: ir@ideanomics.comwww.ideanomics.com Tel: +1.212.206.1216

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