- Mullen extends LOI with S3R3 Solutions to assemble electric vehicles, manufacture electric vehicle batteries in Washington
- Plan calls for 1.3 million square feet of assembly, manufacturing, R&D facilities
- NETE, Mullen merger will make Mullen a publicly traded company, provide access to capital
Mullen Technologies recently announced that it has extended its letter of intent for the acquisition of a 1.3-million-square-foot electric vehicle manufacturing facility. The progression of this acquisition bodes well for Net Element (NASDAQ: NETE), a company which operates a payments-as-a-service transactional and value-added services platform. NETE recently entered an agreement (subject to definitive agreement, fairness opinion, shareholder and board approval) to merge with Mullen Technologies Inc., a Southern California-based electric vehicle company and owner of the proposed plant, which is slated for construction just outside of Spokane.
The news broke with the announcement that Mullen had extended a letter of intent with S3R3 Solutions to assemble electric vehicles and manufacture electric vehicle batteries in…
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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