NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 11/13/2020 3:28:18 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Technologies Positioned at the Forefront of Reduced EV Manufacturing Costs
Net Element (NASDAQ: NETE) is transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc. Timing looks optimal for the transition as new research from investment bank UBS finds that the cost to manufacture EVs may be the same as the cost for regular models within the next four years (https://nnw.fm/gPsnf). This news bodes well for Net Element and Mullen. A recent article discussing this reads, “Mullen recently announced its own plans to start work on a manufacturing facility as well as accept pre-orders for its M05 fully electric SUV. ‘We are excited to begin the build-out of our pilot facility and pre-sales of our MX-05 SUV in October,’ said Mullen Technologies chairman and CEO David Michery. ‘We plan on completing the build-out by April 2021 and to begin assembly of certification prototypes by July 2021. These vehicles will be used for homologation, which is expected to take 16 months and be completed by May of 2022, at which time we expect to begin delivering the first vehicles to the public.’”
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 transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc. Timing looks optimal for the transition as new research from investment bank UBS finds that the cost to manufacture EVs may be the same as the cost for regular models within the next four years (https://nnw.fm/gPsnf). This news bodes well for Net Element and Mullen. A recent article discussing this reads, “Mullen recently announced its own plans to start work on a manufacturing facility as well as accept pre-orders for its M05 fully electric SUV. ‘We are excited to begin the build-out of our pilot facility and pre-sales of our MX-05 SUV in October,’ said Mullen Technologies chairman and CEO David Michery. ‘We plan on completing the build-out by April 2021 and to begin assembly of certification prototypes by July 2021. These vehicles will be used for homologation, which is expected to take 16 months and be completed by May of 2022, at which time we expect to begin delivering the first vehicles to the public.’”
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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