- By September 2020, growth rate of electric vehicle market increased to over 11% YoY
- September 2020 marked record month for the EV industry, as 345,000 electric vehicles were sold globally – accounting for 4.9% of total automotive sales
- Increase in EV sales due to combination of policy shifts, technological innovations
- Net Element, through intended merger with privately held Mullen Technologies, expects to begin marketing Dragonfly K50 sports car in United States by Q2 2021
The winds of change are blowing as global warming and climate change-induced catastrophes are waking the world to the imminent need to shift towards green energy options. Net Element (NASDAQ: NETE), a financial technology company undergoing a complete transformation of its business model by entering into a definitive agreement to merge with privately-held Mullen Technologies, seems to have gained entry into the recently burgeoning electric vehicle industry at precisely the right time.
Following from Net Element’s decision to enter into a binding Letter of Intent to merge with privately-held Mullen Technologies Inc. in mid-June 2020, NETE announced provisional plans to divest itself of its legacy payments-as-a-service transactional model and alter its operational focus towards the electric vehicle space. The timing could not have been any more…
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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