BREA, California, August 10, 2017. Mullen Technologies Inc. and FLOORiT Financial Inc. dba DRIVEiT Auto Group, have entered into an agreement to form Mullen Capital. This will provide a full spectrum of auto financing for consumer credit loans of the full Mullen electric vehicle line. Mullen Capital has agreed to be the prime lender for both the new and used full speed Mullen 700e, the low speed Mullen 100et, Mullen ET and Mullen ET-1, as well as the preferred lender of all future vehicles expected to enter domestic distribution in 2017, as well as the newly produced vehicles in 2018. The agreement between the two companies will provide consumer financing to qualified buyers and propel the sales of all lines of Mullen electric vehicles.
“By partnering with DRIVEiT, an experienced auto finance company with a national presence, Mullen Capital is able to provide critical financing to its’ client base, as well as offer a financing solution to future Mullen dealers and franchisees”, stated David Michery, CEO of Mullen Technologies, Inc. “Mullen is now in the position to rapidly expand its client base, proceed to develop a national distribution network and offer a purchase option for consumers and corporate clients”, added Mr. Michery.
About Mullen Technologies:
Mullen Technologies, Inc. is a California based pre-IPO Electric Vehicle (EV) manufacturer and international distributor of high tech, zero emission vehicles. The Company aims at solving the significant environmental problem caused by gasoline powered vehicles and providing a variety of affordable, electric cars to the American market and the entire world market. Currently, the Company manufactures a proprietary USDOT certified four door electric sedan. The company is in negotiations with several international vehicle manufacturers to develop joint ventures to bring quality, cost effective vehicles to the United States for certification and distribution.
Mullen Technologies, Inc. is committed to not only low cost, high quality product, but to being a fiscally responsible organization that values good business sense and refuses to spend indiscriminately or irresponsibly.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Forward looking statements in this press release include statements relating to the Company’s corporate finance and other strategic initiatives, and the Company’s expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2015. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
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Mullen Technologies, Inc.