Electric-vehicle startups seem to be everywhere these days. And more than a few have used a “reverse merger” with an established company that’s already listed on Nasdaq as a way to go public.
Lordstown Motors, Fisker, and Canoo have announced deals like this, and Nikola has already done this type of deal.
In this case, Mullen Technologies, which is based in Southern California, will pair with Net Element, a company that works on mobile payment tech.
Every few weeks, it seems there’s another Chinese manufacture promising to wriggle into North America. This week it’s Qiantu Motor, which intends to build the K50 electric sports car with help from California-based EV firm Mullen Technologies. According to a preliminary agreement published on Mullen’s website, the American firm will homologate, assemble, and market the electric sports car in North America in 2020.
Simon Lei, Qiantu’s Head of Product Planning, previously expressed the brand’s intent to sell the model within the United States last April. Naturally, we’re always a little skeptical of these kinds of claims, given China’s track record on the matter and the ongoing trade war. (Read More…)
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