Thursday, December 10, 2020

MissionIRNewsBreaks – Net Element Inc. (NASDAQ: NETE) to Drive into US EV Market in Style, Speed via K50 Dragonfly

 Net Element (NASDAQ: NETE) is a financial technology company 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. The merger is optimally timed as more and more regulations aim to require and encourage adoption of purely electric automobiles as a replacement to conventional combustion engine-powered cars. A recent article discussing the company’s positioning reads, “Net Element and Mullen Technologies have revealed plans to begin their foray into the U.S. electric vehicle market through their partnership with Chinese EVET manufacturer, Qiantu Motors, with the aim of marketing and selling the latter company’s vehicles in the U.S. The joint-venture’s first product will be the K50 Dragonfly — an all-electric, two-seat, carbon-fiber-bodied sports car that can go from 0-100 km/hr in 4.6 seconds (faster than a Porsche Boxster) and which is set to begin deliveries from 2Q2021 onwards.”

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

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 U.S. and selected emerging markets. On Aug. 5, 2020, Net Element announced the execution of a definitive agreement to merge with privately-held Mullen Technologies Inc., a Southern California-based electric vehicle company in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company (the “contemplated merger”). The contemplated merger is subject to customary closing conditions, regulatory approvals and shareholder approval for both companies. For additional information, visitwww.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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