NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 02/01/2021 3:08:21 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE) Working Diligently to Finalize Merger, Capitalize on Growing EV Sector Demand
Net Element (NASDAQ: NETE) is in the process of transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through a pending merger with privately-held Mullen Technologies Inc. This bold move aims to leverage changing market conditions where rapidly falling battery prices are fueling predictions that it will be easier and cheaper to build and market EVs within the next few years. As the industry grows, research suggests that EVs may eventually dominate gas-powered cars in many sectors. In addition to falling battery prices that are expected to make EVs economically feasible on the supply side, government mandates, policy-initiatives and consumer preferences are pushing demand higher. A recent article highlights Net Element’s diligent efforts to finalize the merger. It reads, “Through its subsidiary Mullen Energy, Mullen Technologies is currently engaged in innovating its own battery technology in addition to taking pre-orders for its five-passenger MX-05 SUV and Dragonfly K50 sports car. Following the merger, the company is planning to build and lease 1.3 million square feet of assembly and manufacturing space in Washington while expanding its industry footprint through subsidiaries that include Mullen Auto Sales, Mullen Finance Corp., and a digital marketplace called CarHub.”
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 in the process of transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through a pending merger with privately-held Mullen Technologies Inc. This bold move aims to leverage changing market conditions where rapidly falling battery prices are fueling predictions that it will be easier and cheaper to build and market EVs within the next few years. As the industry grows, research suggests that EVs may eventually dominate gas-powered cars in many sectors. In addition to falling battery prices that are expected to make EVs economically feasible on the supply side, government mandates, policy-initiatives and consumer preferences are pushing demand higher. A recent article highlights Net Element’s diligent efforts to finalize the merger. It reads, “Through its subsidiary Mullen Energy, Mullen Technologies is currently engaged in innovating its own battery technology in addition to taking pre-orders for its five-passenger MX-05 SUV and Dragonfly K50 sports car. Following the merger, the company is planning to build and lease 1.3 million square feet of assembly and manufacturing space in Washington while expanding its industry footprint through subsidiaries that include Mullen Auto Sales, Mullen Finance Corp., and a digital marketplace called CarHub.”
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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