LA HABRA, CA, July 25, 2016 – Mullen Technologies Inc. and Deral, LLC have entered into an agreement for financing up to $150 million in consumer credit loans of the Mullen electric vehicle line. Deral, LLC has agreed to be the prime lender for both the new and used full speed Mullen 700e, the low speed Mullen 100e and 100e4, as well as the full line of BAIC vehicles expected to enter domestic distribution in 2017. 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 an experienced, well-organized partner in Deral, Mullen 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 lease and 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.
The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company’s public announcements.
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Mullen Technologies, Inc.