Mullen Technologies Inc., an electric vehicle manufacturer that previously announced a definitive agreement to merge with
Net Element, Inc. (NASDAQ: NETE) in a stock for stock reverse merger reported today that the company has executing a none binding LOI with Unlimited electric Contractors Corp. to enter a definitive agreement for the purchase of up to 10,000 MX-05 electric vehicles.
UEC is focused on being the first electrical contractor with an all electric service fleet and plans on executing a definitive agreement with the company to purchase 1,500 MX-05 electric vehicles for its Florida operations. It plans to follow up to an additional 8,500 by 2025 for its U.S. West Coast expansion. The initial purchase order is estimated at USD 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 dual electric motor configuration.
Mullen Technologies Receives Letter of Intent for Purchase Order of 1,500 MX-05 Electric Vehicles saltlakecitysun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltlakecitysun.com Daily Mail and Mail on Sunday newspapers.
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Letter of Intent to serve as basis for definitive agreements for an initial purchase order of 1,500 MX-05s and up to and additional 8,500 by 2025.
BREA, CA / ACCESSWIRE / December 30, 2020 / Mullen Technologies Inc. ( Mullen or the Company ), an emerging electric vehicle ( EV ) manufacturer, which previously announced a definitive agreement to merge with Net Element, Inc. (NASDAQ:NETE) 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, announced today that the Company has executed a non-binding Letter of Intent with Unlimited Electrical Contractors Corp (UEC) to enter definitive agreements for the purchase of up to 10,000 MX-05 electric vehicles. UEC is a premiere electrical contractor based in Pompano Beach, Florida, specializing in commercial and residential projects in South Florida.