NetworkNewsBreaks – Net Element Inc.’s (NASDAQ
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Posted On: 10/16/2020 3:37:28 PM
NetworkNewsBreaks – Net Element Inc.’s (NASDAQ: NETE) Foray into EV Market Driven by Dragonfly K50
Net Element (NASDAQ: NETE) has recently transformed its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc. The company is set to begin marketing its initial vehicle model – the Dragonfly K50 – in 2Q2021. Developed in conjunction with China’s Qiantu Motors, the car model will mark Net Element’s initial foray into the North American electric vehicle market. The venture will be further reinforced through the launch of the Mullen MX-5, the company’s self-manufactured EV SUV, by the second quarter of 2022. An article discussing opportune timing of the move reads, “In an extensive report centered around the battery electric vehicles segment, Deloitte recently forecast that the electric vehicle market is set to reach a tipping point in 2022 . . . a point of time at which the consultancy expects the cost of ownership for a battery-powered vehicle to be on par with its internal combustion engine-powered counterparts, thereby reducing relative cost differences as a barrier to purchase. With that in mind, it is noteworthy to explore the potential target market size for Net Element as it makes its initial foray into the global EV marketplace (https://nnw.fm/7yDqr).”
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) has recently transformed its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc. The company is set to begin marketing its initial vehicle model – the Dragonfly K50 – in 2Q2021. Developed in conjunction with China’s Qiantu Motors, the car model will mark Net Element’s initial foray into the North American electric vehicle market. The venture will be further reinforced through the launch of the Mullen MX-5, the company’s self-manufactured EV SUV, by the second quarter of 2022. An article discussing opportune timing of the move reads, “In an extensive report centered around the battery electric vehicles segment, Deloitte recently forecast that the electric vehicle market is set to reach a tipping point in 2022 . . . a point of time at which the consultancy expects the cost of ownership for a battery-powered vehicle to be on par with its internal combustion engine-powered counterparts, thereby reducing relative cost differences as a barrier to purchase. With that in mind, it is noteworthy to explore the potential target market size for Net Element as it makes its initial foray into the global EV marketplace (https://nnw.fm/7yDqr).”
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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