Ideanomics' MEG division finalizes EV and energy business units under its sales-to-financing-to-charging model

Ideanomics Inc (NASDAQ:IDEX) said its Mobile Energy Global (MEG) division has finalized its electric vehicle and energy business units under its sales-to-financing-to-charging model (S2F2C).  Each business unit has been developed to focus on a key area of revenue, the company said Wednesday in a statement.   It is part of the company's plans to onboard diversified revenue streams as it scales in Asia and beyond, having its own team and revenue objectives to provide focus and accountability for the MEG division, Ideanomics added. READ: Ideanomics' electric vehicle division eyes Chinese government initiative to increase EV adoption The sales-to-financing division's four key business segments are built around commercial EV sales: lease financing fund supported sales; cash and non-fund sales; Qingdao EV hub sales; and Treeletrik and ex-China sales. The charging division's four key business segments are focused on energy sales: pre-paid electricity sales for commercial EV fleets; EV fast-charging network sales; 5G Smarty City energy sales; and consolidated energy purchasing card with China Union Pay. "We are entering a period of high-growth for the company, and the business units have begun to take shape based on our EV order flows and the predicted revenue streams for energy sales," said CEO Alf Poor. "We've been developing each business unit under our S2F2C model as the demand for clean energy vehicles matures, adjusting according to market conditions and opportunity.”  In other words, he added: “Our analogy internally has been to create two thoroughbred racehorses, each supported by four strong hooves, capable of accelerating quickly and efficiently to ensure we are well-placed to benefit from the uptick in EV and clean energy consumption as it transitions from emerging market to mainstream." Ideanomics, which is based in New York with offices in Beijing, is a global company focused on monetizing the adoption of commercial EVs and developing next-generation financial services and fintech products.  The company’s stock recently rose 2.4% to $0.56 a share in New York.  Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham