NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 09/08/2020 3:38:31 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Tech Visualize EV Manufacturing in 1.3M-Square-Foot Facility
Mullen Technologies, which previously entered a definitive agreement to merge with Net Element (NASDAQ: NETE), recently announced extension of a letter of intent (“LOI”) for the acquisition of a 1.3-million-square-foot electric vehicle (“EV”) manufacturing facility. Mullen, a Southern California-based, licensed EV manufacturer with international distribution that operates in various verticals of the automotive industry, extended the LOI with S3R3 Solutions to assemble EVs and manufacture EV batteries in the area of West Plains, Washington (http://nnw.fm/xcWya). A recent article discussing this reads, “Mullen’s vision is to begin assembly of electric vehicles and development of its battery packs in an initial facility of 500,000 square feet and expand into an addition 800,000 square feet as its battery production expands. The proposed site would be leased by Spokane International Airport to S3R3, which would finance and build the facility through the use of a revenue bond. Mullen anticipates meeting the requirements of the LOI by late 2020, which would allow initiation of the planning, financing, permitting and construction of the facility.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Mullen Technologies, which previously entered a definitive agreement to merge with Net Element (NASDAQ: NETE), recently announced extension of a letter of intent (“LOI”) for the acquisition of a 1.3-million-square-foot electric vehicle (“EV”) manufacturing facility. Mullen, a Southern California-based, licensed EV manufacturer with international distribution that operates in various verticals of the automotive industry, extended the LOI with S3R3 Solutions to assemble EVs and manufacture EV batteries in the area of West Plains, Washington (http://nnw.fm/xcWya). A recent article discussing this reads, “Mullen’s vision is to begin assembly of electric vehicles and development of its battery packs in an initial facility of 500,000 square feet and expand into an addition 800,000 square feet as its battery production expands. The proposed site would be leased by Spokane International Airport to S3R3, which would finance and build the facility through the use of a revenue bond. Mullen anticipates meeting the requirements of the LOI by late 2020, which would allow initiation of the planning, financing, permitting and construction of the facility.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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