Projected Tenfold Growth in EV Market Share Illustrates Huge Potential in the Space
August 12 2020 - 10:29AM
NetworkNewsWire ("NNW"), one of 50+ brands within the
InvestorBrandNetwork (“IBN”), a multifaceted financial news and
publishing company for private and public entities, today announces
its release of an editorial on the electric vehicle market’s
continued evolution.
To view the full publication, “Investors Pile into the
Accelerating Electric Vehicle Market” visit:
http://nnw.fm/7SMYi
Since 2013, the sale of electric vehicles (EV) in the United
States has grown by an average of 25% a year, a stunning figure
when compared to the anemic 1.4% overall growth of the U.S. auto
market over the same interim. Despite the stellar growth rate, EV
sales only account for a miniscule 2% share of the U.S. automobile
market but are projected to exceed 20% of annual vehicle sales by
2030. With a tenfold increase in market share expected over the
next decade, market penetration has just begun, and there’s clearly
still enormous upside.
In a bold foray into the electric vehicle market, Net Element
Inc. (NASDAQ: NETE) recently announced the execution of a
definitive merger agreement to merge with Mullen Technologies Inc.,
a Southern California-based EV company. Mullen currently has
seven retail locations in California, one in Arizona, and expects
to launch a luxury sports car in the first half of 2021.
About Mullen Technologies: Mullen Technologies
is 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. Each of these divisions provide
Mullen with diversity of different products and services within the
automotive industry.
For more information, please visit: www.MullenUSA.com
About Net Element, Inc. (NETE)
Net Element, Inc. (NASDAQ: NETE) operates a
payments-as-a-service transactional and value-added services
platform for small to medium enterprise ("SME") in the U.S. and
selected emerging markets. In the U.S., the Company aims to grow
transactional revenue by innovating SME productivity services using
blockchain technology solutions and Aptito, its cloud-based,
restaurant and retail point-of-sale solution. Internationally, Net
Element's strategy is to leverage its omni-channel 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™. In 2017, Net Element
was recognized by South Florida Business Journal as one of 2016's
fastest-growing technology companies.
For more information, please visit: www.NetElement.com
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Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
All forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events or future performance of the company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which are only predictions and speak only as of the date hereof. In
evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this
release and matters set in the company's SEC filings. These risks
and uncertainties could cause the company's actual results to
differ materially from those indicated in the forward-looking
statements.
Corporate Communications:
NetworkNewsWire (NNW) New York, New York www.NetworkNewsWire.com
212.418.1217 Office Editor@NetworkNewsWire.com
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