Bookmark and Share

$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.”

To view the full news release, visit https://ibn.fm/t38G9

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”). That 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 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 InvestorWire 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.

To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenCarStocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer

Green Car Stocks
San Francisco, California
www.GreenCarStocks.com
415.949.5050 Office
Editor@GreenCarStocks.com

Green Car Stocks is part of the InvestorBrandNetwork.

Thursday, March 18th, 2021 Uncategorized
Top Small Cap Market News