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 the arrival of the Mullen FIVE EV Crossover. According to the update, Mullen will begin the final stages of engineering and dry fit process of the Mullen FIVE in Irvine, California, starting in September. Mullen is excited for the upcoming world debut of the FIVE, built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a Strikingly Different(TM) design. “I am beyond excited to showcase the Mullen FIVE. It’s amazing to see the FIVE go from vision to reality. Once you see it, you will be blown away,” said David Michery, CEO and chairman of Mullen. “We’ve researched, designed, engineered and built the FIVE in America by Americans. We are very proud for the world to see the FIVE this coming November.”
To view the full news release, visit https://ibn.fm/SIWRP
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
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