/biz/ - Business & Finance

Mullen Technologies, soon to be (NETE), is a scam, don't buy it unless it's just a short term play. NETE will only get 15% of Mullen after the reverse merger. Their 130 million line of credit isn't enough to buy and retool a factory that will produce their cars at any real volume. The only asset they have are eight used car dealerships.

Mullen has two products, one of them is the Qiantu K50 which they're going to buy from a Chinese company and reassemble in the US. This car is a joke, it will cost between $125,000 to $150,000 while the Tesla Model 3 Performance is $75,000 without any incentives. The Model 3 is a full second faster 0-60, has at least 80 miles more range, and has a top speed of 162MPH versus 125 MPH. Plus it's a Tesla and not a Chinese piece of shit deathtrap.

Mullen's other vehicle only exists on paper and they're claiming to have some breakthrough battery technology, but if you look into it, you'll see that they're licensing the technology from some unknown Chinese battery company. This is basically fraud, if the technology was that good it would have already been bought by either another battery company or another automaker as it would cost them barely anything.