Net Element Inc. (NASDAQ: NETE), Mullen Stand to Benefit from Decreasing EV Manufacturing Costs

Oct 22, 2020

  • Investment bank UBS reports that electric cars will cost the same to make as conventional cars by 2024.
  • Expensive batteries, which account for between a quarter and two-fifths of EV’s cost, have been barrier to production.
  • NETE recently announced entry into EV space through merger with privately held Mullen Technologies Inc.

New research from investment bank UBS indicates that electric vehicles (“EVs”) may be as cheap to manufacture as regular models within the next four years (https://ibn.fm/UV8WX). This news bodes well for Net Element Inc. (NASDAQ: NETE), a global financial technology and value-added solutions group that recently announced its planned entry into the EV space through an upcoming merger with privately held Mullen Technologies Inc. (https://ibn.fm/xBu5G).

According to the research, “electric cars will cost the same to make as conventional cars, with internal combustion engines, by 2024 and an acceleration in the shift away from fossil fuel vehicles may be imminent.” In addition…

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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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