GreenCarNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Technologies Positioned at the Forefront of Reduced EV Manufacturing Costs
Nov 13, 2020
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://ibn.fm/DW8fZ). 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.’”
To view the full article, visit https://ibn.fm/wIZWj
About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the United States and selected emerging markets. In the U.S., the company aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, its cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest-growing companies in North America on Deloitte’s 2017 Technology Fast 500(TM). In 2017 Net Element was recognized by “South Florida Business Journal” as one of 2016’s fastest-growing technology companies. Further information is available at www.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
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