NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 09/17/2020 3:30:10 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE) Moves Into EV Market With Mullen Merger
Net Element (NASDAQ: NETE) is preparing to make an entrance into the electric vehicle (“EV”) market. The company, formerly focused on global financial technology and value-added solutions, has entered into a definitive merger agreement with Mullen Technologies Inc., a Southern California-based EV company. Mullen boasts seven retail locations in California and one in Arizona; the company also has expansion plans in place that include opening a manufacturing plant in Washington and launching a luxury sports car – the Dragonfly K50 – in early 2021. Timing of the move appears ideal, as EV sales in the United states have increased by an average of 25% per year (http://nnw.fm/B2GRb). NETE made the move to maximize shareholder value. An article this states, “through the reverse merger, NETE plans to transform itself into a pure-play electric vehicle company, allowing the stakeholders of Mullen, a privately held company, to acquire a majority of the new stock, accelerate the process of taking Mullen public, and catalyze its operations in the United States.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Net Element (NASDAQ: NETE) is preparing to make an entrance into the electric vehicle (“EV”) market. The company, formerly focused on global financial technology and value-added solutions, has entered into a definitive merger agreement with Mullen Technologies Inc., a Southern California-based EV company. Mullen boasts seven retail locations in California and one in Arizona; the company also has expansion plans in place that include opening a manufacturing plant in Washington and launching a luxury sports car – the Dragonfly K50 – in early 2021. Timing of the move appears ideal, as EV sales in the United states have increased by an average of 25% per year (http://nnw.fm/B2GRb). NETE made the move to maximize shareholder value. An article this states, “through the reverse merger, NETE plans to transform itself into a pure-play electric vehicle company, allowing the stakeholders of Mullen, a privately held company, to acquire a majority of the new stock, accelerate the process of taking Mullen public, and catalyze its operations in the United States.”
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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