Mullen Technologies Plant for Electric Cars has a potential to add 10,000 jobs in West Plain-USA
Mullen Technologies has announced a plan to assemble the Qiantu Electric Sports Car on the West Plain. There is a promise here of bringing 860 jobs in seven years.
This is a mid-premium SUV with very lightweight and has lithium-ion batteries. Its features bring an extensive impact on the area.
The company is based in California and is working jointly with the West Plains Public Development Authority. It will build/lease 1.3 million sq.feet space for assembling and manufacturing Qiantu K50. Additionally, there will be a research and development facility for the batteries. The plan here is to become a leader in developing modern technology and also create 3,000 jobs. The facility will also expand and create Energy Business Park. Its potential will be to add 10,000 jobs.
Completion of the Phase one will happen by 2021. The Completion of Phase two includes an 800,000-sq. foot building for undertaking the commercialization of these batteries taking close to three years.
There will also be rail access and leasing of the site to Mullen Technologies. Mullen Technologies opted for the West Plains as it is affordable and close to the rail.
The Qiantu K50 will have a US launch in 2020. Moreover, it was unveiled at the International Auto Show New York in April.
It is a high-performance sports car that can reach 60 mph in 4.2 seconds having a range of 250 miles. It has an aerodynamic carbon fiber design, an aluminum frame, and high-quality leather seats, plus the LED lighting system. Furthermore, its other features are the system for solar energy air circulation, aluminum alloy wheels, fine color options, a safety technology with the driving modes like sport, adaptive, and boost. The starting price is $125,000. The vision of Mullen Technologies is marked with the passion for cars and honors environmental issues.
The Way Ahead
It also has an aim to find an innovative and holistic solution for the clean-air issue. Mullen Technologies will enter the Electric Vehicles Market through, Ottava, which is a mid-premium, all-electric SUV close to the $55,000 – $60,000 price range.
The plan is producing 3,000 SUVs by 2022 and increase production to 32,000 by 2027. It is finalizing negotiations plans, to have a joint development agreement with a top research and development organization for its battery technology.
Mullen Technologies also has bright ideas and is an emerging vehicle company looking to raise funds for manufacturing the Qiantu K50 and plans to go public. The Transportation infrastructure is excellent and the proposed $2 million rail connects to the Geiger Spur will provide the loading facility to transfer shipments.
Mullen Technologies also plans to purchase the Spokane County Raceway for holding events and testing electric vehicles.
There are advantages of affordability, favorable taxes, and the low cost to do business, besides racetrack availability, and skilled labor.
Mullen Technologies will raise a$50 million equity investment fund. This assembly facility is in an opportunity zone and has an aim of spurring economic development providing tax benefits to investors. Mullen Technologies possesses the capacity to raise $50 million soon. There is a strong potential for its growth.
Mullen Technologies will be also eligible for government loans and funds from the company IPO. It can turn out to be the major project ever to happen in the Spokane area. Finally, it is taking all the measures to ensure that this becomes a reality for the area.
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