NetworkNewsBreaks – Net Element Inc. (NASDAQ: NE
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Posted On: 09/21/2021 3:57:40 PM
NetworkNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Technologies Inc. Announce Definitive Agreement for Class 1 and 2 EV Cargo Vans for Assembly, Sales in US and Mexico
Mullen Technologies, an emerging electric vehicle manufacturer, which previously announced a definitive agreement to merge with Net Element (NASDAQ: NETE), today announced its entry into a definitive agreement with Tenglong Automotive, a subsidiary of CRRC Group, for manufacturing, distribution and retail sales of Class 1 and Class 2 EV Cargo Vans in the U.S. and Mexico. According to the update, the agreement provides Mullen with an effective solution for the fast-developing EV cargo van market and its existing EV fleet van orders. Mullen will homologate and assemble the vans at its Tunica, Mississippi- based Advanced Manufacturing and Engineering Facility (“AMEC”). “EV Cargo Vans are a natural segment for us and is a perfect fit for our Tunica AMEC facility,” said David Michery, CEO and chairman of Mullen. “This is also a win-win for us and our investors. We can begin to fulfill existing fleet orders in the first quarter of 2022, which will generate revenue and begin our manufacturing process in Tunica, Mississippi. We expect to hire a significant number of Americans for start of production at our AMEC facility.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Mullen Technologies, an emerging electric vehicle manufacturer, which previously announced a definitive agreement to merge with Net Element (NASDAQ: NETE), today announced its entry into a definitive agreement with Tenglong Automotive, a subsidiary of CRRC Group, for manufacturing, distribution and retail sales of Class 1 and Class 2 EV Cargo Vans in the U.S. and Mexico. According to the update, the agreement provides Mullen with an effective solution for the fast-developing EV cargo van market and its existing EV fleet van orders. Mullen will homologate and assemble the vans at its Tunica, Mississippi- based Advanced Manufacturing and Engineering Facility (“AMEC”). “EV Cargo Vans are a natural segment for us and is a perfect fit for our Tunica AMEC facility,” said David Michery, CEO and chairman of Mullen. “This is also a win-win for us and our investors. We can begin to fulfill existing fleet orders in the first quarter of 2022, which will generate revenue and begin our manufacturing process in Tunica, Mississippi. We expect to hire a significant number of Americans for start of production at our AMEC facility.”
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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