NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 03/18/2021 4:14:07 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Set to Move the World in Memphis
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 stock-for-stock reverse merger with privately-held Mullen Technologies Inc. Mullen today announced its intent to execute a long-term lease on an 820,000-square-foot facility located in Memphis, Tennessee. According to the update, Mullen, with the help of local and state incentives from the city of Memphis and the state of Tennessee, plans to create up to 800 jobs and deliver 100,000 vehicles over a five-year period, commencing in Q4 of 2023. Mullen’s 2P 6 SUV crossover (formerly MX-05) will be the first in its line of fully electric vehicles that will be manufactured at the facility. “Memphis moved the world when an alternative new sound known as rock ’n’ roll came from a recording studio on Union Avenue, and we continue to move the world by positioning Memphis to be considered as the new home to an alternative electric vehicle manufacturer in Mullen Technologies,” said Ted Townsend, chief economic development officer for the Greater Memphis Chamber. “This is only the beginning of fulfilling our promise to attract new businesses in innovative industry sectors that will bring good-paying jobs — 800 of them to be exact in this case — to the community. We will continue to aggressively seek this type of growth in advanced automotive manufacturing for Memphis and Shelby County, while at the same time continuing to pursue other industries that create good-paying, sustainable jobs.”
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 stock-for-stock reverse merger with privately-held Mullen Technologies Inc. Mullen today announced its intent to execute a long-term lease on an 820,000-square-foot facility located in Memphis, Tennessee. According to the update, Mullen, with the help of local and state incentives from the city of Memphis and the state of Tennessee, plans to create up to 800 jobs and deliver 100,000 vehicles over a five-year period, commencing in Q4 of 2023. Mullen’s 2P 6 SUV crossover (formerly MX-05) will be the first in its line of fully electric vehicles that will be manufactured at the facility. “Memphis moved the world when an alternative new sound known as rock ’n’ roll came from a recording studio on Union Avenue, and we continue to move the world by positioning Memphis to be considered as the new home to an alternative electric vehicle manufacturer in Mullen Technologies,” said Ted Townsend, chief economic development officer for the Greater Memphis Chamber. “This is only the beginning of fulfilling our promise to attract new businesses in innovative industry sectors that will bring good-paying jobs — 800 of them to be exact in this case — to the community. We will continue to aggressively seek this type of growth in advanced automotive manufacturing for Memphis and Shelby County, while at the same time continuing to pursue other industries that create good-paying, sustainable jobs.”
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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