Wednesday, October 21, 2020

MissionIRNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Technologies Ramping Up for EV Production

 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. Mullen Technologies recently announced commencement of the build out of its pilot manufacturing facility and that it has begun taking pre-orders for its MX-05 fully electric SUV. Completion of the facility is expected by April 2021. Shortly thereafter, the company will begin assembly of certification prototypes with plans for the first consumer-ready MX-05 SUVs to roll off the production line by the second quarter of 2022. An article discussing this reads, “Mullen Technologies anticipates its remodeled manufacturing facility will produce up to 1,000 MX-05 EVs per year; the facility will also manufacture all other upcoming models, including the MX-07 and MX-03. The factory will be renovated to include general assembly and battery assembly capabilities; the structure will also house R&D and serve as a warehouse.”

To view the full article, visit https://ibn.fm/pFe89

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 MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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