Despite its formal agreement on Japan`s terms in 1915 and 1918, China condemned the transfer of German stakes to the 1919 Paris Peace Conference with the strong support of US President Woodrow Wilson. China`s ambassador to France, Wellington Koo, said China could no longer abandon Shandong, the birthplace of Confucius, China`s greatest philosopher, whom Christians could not concede to Jerusalem. He asked for the promised return of Shandong, but without success. Japan has won. Chinese public outrage at Article 156 led to demonstrations and a cultural movement known as the Fourth May Movement on 4 May 1919. Wellington Koo later refused to sign the contract. About 20% of the new fund is intended to finance the purchase of electric vehicles (EVs) to replace existing gas-powered fleets in Shandong Province. The Fund will sign an agreement with Ideanomics` MEG Group as soon as it is fully implemented and funds are available to finance electric vehicles through the MEG. MEG, based on its S2F2C (Sales to Financing to Charging) model, will be the beneficiary of these funds through ev sales, leasing and financing services and royalty-related energy sales.
As a reminder, Meg`s 5-tier business model matrix for China consists of 1) Fleet Financing Fund Alliance 2) Umbrella Sales Alliance 3) Battery – Manufacturers Alliance 4) Operating Partners Alliance and 5) Energy Sales Alliance. This strategic cooperation agreement is the first in a series of Tier 1 funding agreements – Fleet Financing Alliance, which aims to address barriers to fleet financing. These funds can be used to help fleet operators obtain the financing and loans needed to replace the fleets of hundreds and thousands of gas-powered vehicles with electric vehicles. During the year, SSE set a target of signing between three and six similar contracts, with 20-30% of the funds earmarked for the financing of the fleet at MEG. The timing of the conclusion of these future stores may vary due to current travel restrictions. NEW YORK, April 6, 2020 /PRNewswire/ — Ideanomics, (NASDAQ: IDEX) (“Ideanomics” or the “Company”), is pleased to announce that Qingdao City Construction Investment Group Limited (QCCIG) has entered into a strategic cooperation framework agreement with sun Seven Stars Investment Group Limited (SSSIG) 1 to finance up to RMB50 billion ($7 billion) to finance investment projects in Qhanding and Song. The necessary funds are hired on an interim basis by the insurance companies, subject to an administrative procedure of two to three months, and are part of a fundraising initiative that has been underway since the fourth quarter of 2019. By signing the cooperation agreement, both sides will strive to train professional and international talent. Through multi-level rubber engineering and technical staff training, scientific and technological exchanges and cooperation, they will jointly develop long-term cooperation in industry, academia and research. Together, we will encourage global technical cooperation between companies and universities, train high-quality international specialists for the Chinese rubber industry and help the Linglong Group achieve its quality development.