. World News – USA – Mullen Technologies Receives Letter of Intent to Order Nov.. 500 MX-05 electric vehicles

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Letter of intent as the basis for final agreements for an initial order of 1. 500 MX-05 and up to and additionally 8. 500 by 2025.

BREA, CA / ACCESSWIRE / 30. December 2020 / Mullen Technologies Inc. . (« Mullen » or the « Company »), an emerging electric vehicle (« EV ») manufacturer, which previously entered into a definitive agreement to merge with Net Element, Inc. . (NASDAQ: NETE) announced today that the company has entered into a non-binding letter of intent with Unlimited Electrical whereby Mullen shareholders will receive a majority of the outstanding shares of the post-merger company Contractors Corp (UEC) enters into definitive agreements to purchase of up to 10. 000 MX-05 electric vehicles. UEC is a leading electrical contractor based in Pompano Beach, Florida specializing in commercial and residential projects in South Florida.

UEC’s mission is to be the first electrician with a fully electric service fleet and intends to reach a definitive agreement with the company for the purchase of 1. Complete 500 MX-05 electric vehicles for operation in Florida. By 2025 there should be another 8. 500 for his U will be. S.. . West coast extension. The initial order is estimated at $ 75 million. The vehicles are based on a modified variant of the MX-05, an electric crossover SUV based on a skateboard EV platform and a unibody frame that comes in a single or double electric motor configuration.

« We are very excited to be working with UEC and are very happy that you see the value of Mullen and the MX-05 for your business. The UEC contract is the first of many commercial fleet relationships we are currently working on. The MX-05’s skateboard platform and low center of gravity allow us to easily configure the vehicle for many different types of commercial trade, « said David Michery, CEO and Chairman of Mullen Technologies.

« We are pleased with the redesigned Mullen MX-05 SUV and are very excited to be working with Mullen to electrify our fleet of service vehicles, » commented Mark Petrich, CEO of Unlimited Electrical Contractors.

Mullen Technologies is a Southern California-based licensed vehicle manufacturer operating in a variety of industries, focusing on the automotive industry: Mullen Automotive, Mullen Energy, Mullen Auto Sales, and Mullen Funding Corp.. . and CarHub. Each of these divisions offers Mullen a wide variety of products and services in the automotive industry. For further information go to www. MullenUSA. com.

Unlimited Electrical Contractors Corp.. . is one of the leading electrical contractors in South Florida based in Pompano Beach, FL, since 1999, a multi-million dollar commercial electrical contractor who prides itself on being flexible enough to handle and handle timely service calls, yet still in the Capable of handling the most complex, prestigious multi-million dollar residential and commercial projects in South Florida and across the country. For further information go to www. unlimited companies. com

Forward-Looking Statements This press release contains « forward-looking statements ». « Words like » can « , » should « , » could « , » would « , » says « , » potential « , » further « , » expects « , » anticipates « , » future « , » intends « , » plans  » , « believes, » « estimates, » and similar expressions, as well as forward-looking statements, often mean forward-looking statements. These forward-looking statements include, without limitation, statements regarding the proposed production date of the mid-size MX-05 and the perceived benefits and future uses of solid-state polymer battery technology. By their very nature, these forward-looking statements are subject to considerable risks and uncertainties.

Forward-looking statements should not be read as a guarantee of future performance or results and may not be an accurate indication of when such performance or results will be achieved. Forward-looking statements are based on information available to the company when such statements are made or on management’s belief at that time about future events and are subject to risks and uncertainties that could cause actual performance or results to be affected materially differ, expressed or suggested in the forward-looking statements, including any changes in laws, rules and regulations relating to aspects of the Company’s business, general economic, market and business conditions, including capital market developments, actions and developments of the Die Company’s competitors and the impact of competition in the EV industry on the demand for and price of Company’s current and proposed products and services, various business opportunities for the Company, and factors that a outside the control of the company. Because of these and other risks, uncertainties, and assumptions, forward-looking events and circumstances discussed herein may not occur, or not occur at all, as the company expects. Accordingly, you should not place undue reliance on any forward-looking information or statement. The company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or for any other reason. All forward-looking statements in this document are qualified with reference to the cautionary statements in this section.

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Stock, NASDAQ: NETE, net element, order

World News – USA – Mullen Technologies Receives Letter of Intent for Ordering Jan.. 500 MX-05 electric vehicles
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Mullen Technologies Receives Letter of Intent to Order 1500 MX-05 Electric Vehicles
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Ref: https://finance.yahoo.com

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