Mullen Technologies and S3R3 Solutions extend Letter of Intent to Assemble Electric Vehicles and Manufacture Electric Vehicle Batteries in Spokane, WA.

BREA, CA / ACCESSWIRE / July 17, 2020 / Mullen Technologies Inc. ("Mullen Technologies" or the "Company"), a Southern California based licensed electric vehicle manufacturer with international distribution that operates in various verticals of businesses focusing in the automotive industry; Mullen Automotive, Mullen Energy, Mullen Auto Sales, Mullen Funding Corp., and Carhub, today announces it has extended its letter of intent with S3R3 Solutions to assemble electric vehicles and manufacture electric vehicle batteries in Spokane, Washington.

Mullen Technologies has extended its Letter of Intent for 1.3 million square feet of assembly, manufacturing and research and development facilities in the West Plains. Mullen's vision is to begin assembly of electric vehicles and development of its battery packs in an initial facility of 500,000 square feet and expand into an addition 800,000 square feet as its battery production expands. The proposed site would be leased by Spokane International Airport to S3R3 who would finance and build the facility through the use of a revenue bond. Mullen anticipates meeting the requirements of the LOI by late 2020 which would allow the planning, financing, permitting and construction of the facility to initiate. Chair of the S3R3 Board and County Commissioner Al French stated "S3R3 Solutions has proven its ability to streamline projects and we stand ready to deliver on the Mullen project to bring hundreds if not thousand of jobs to the Spokane region."

Most recently Mullen Technologies has agreed to merge with Net Element (NASDAQ:NETE) a publicly traded company. The reverse merger, if approved and consummated will make Mullen a publicly traded company which will provide access to capital per CEO of Mullen Technologies David Michery. Mullen has also recently announced the execution of a Letter of Intent with Axiom Financial for $135 million in funding to acquire an existing electric vehicle manufacturing plant and for the deposit required by the Letter of Intent with S3R3 Solutions.

S3R3 Solutions is the Public Development Authority managing development in the West Plains Airport Area of Spokane Washington. S3R3 was created in 2017 by the Spokane County and the City of Spokane and in partnership with the Spokane International Airport for the purpose of growing economic prosperity in the region. S3R3 is investing in the sustainable growth and development of the West Plains public development area, its workforce and the surrounding community environment.

"What I'm most excited about is putting Americans back to work in America, plain and simple." Commented David Michery, CEO of Mullen Technologies. "Imagine what's possible, making the impossible becomes possible".

About Mullen Technologies:

Based in Southern California, Mullen Technologies is a licensed vehicle manufacturer focused on providing exciting electric vehicles that fit perfectly into the American consumer's life by working independently as well as through strategic OEM partnerships. Mullen Technologies owns a number of synergistic businesses including: Mullen Auto Sales, a fast-growing series of pre-owned auto dealerships through California, CarHub, a new and unique digital platform that leverages AI to offer an interactive solution for buying, selling and owning a car, Mullen Energy, a division solely focused on advancing battery technology and emergency point-of-care solutions, and Mullen Finance Corp., a captive finance arm for consumer vehicle leases and loans.

Legal Notice Regarding Forward-Looking Statements

This press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, often signify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. For more information, please visit: www.MullenUSA.com.

For more information contact:

marketing@mullenusa.com
www.MullenUSA.com
Mullen Technologies,Inc
714-613-1900

SOURCE: Mullen Technologies, Inc.

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