Net Element’s (NASDAQ: NETE) pending merger partner, Mullen Technologies, an emerging electric vehicle (“EV”) manufacturer and technology company, was featured in a recent CarBuzz article. The piece titled, “New Tesla Model Y Rival Has Over 600 Miles Of Range,” describes competition Tesla’s (NASDAQ: TSLA) Model Y will face from electric crossovers including Fisker Inc.’s (NYSE: SPAQ) Fisker Ocean, the Mercedes EQA and, specifically, the range capabilities of new competitor, the Mullen MX-05. The article reads, “Powering the Mullen MX-05 . . . will be a 150-kWh solid-state battery developed by China-based engineering firm Linghang BOAO. . . . Based on results during independent testing, Mullen claims the battery technology will allow electric vehicles to travel 640 miles when cruising at 55 mph on a flat surface and 550 miles at a cruising speed of 75 mph. For comparison, the Tesla Model Y Long Range has 316 miles of range.”
To view the full article, visit http://ibn.fm/6sEDS
About Net Element
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprises (“SMEs”) in the United States and selected emerging markets. In the U.S., NETE aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, the company’s cloud-based restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omnichannel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest-growing companies in North America on Deloitte’s 2017 Technology Fast 500(TM). In 2017, the company was recognized by “South Florida Business Journal” as one of 2016’s fastest-growing technology companies. For additional information about the company, visit www.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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