Mullen Technologies, CA and Qiantu Motor Ltd., China Have Signed a Partnership Agreement to Co- develop, Assemble and Exclusively Market the Qiantu K50 in North America

Qiantu Motor, a wholly owned subsidiary of CH-Auto and Mullen Technologies Inc. have signed a new cooperation agreement to homologate and assemble cars in the US for sales in North America.

CH-Auto is a leading automotive design and manufacturing company in China, best known for its new electric vehicles as well as the development of traditional automobiles and military vehicles. In November 2018, the Chairman and President of Qiantu visited Mullen Technologies and held preliminary negotiations. Since then, the discussions have resulted in a signed cooperation agreement, where the two parties state their desire to collaborate and that they intend for Mullen Technologies to homologate, assemble and exclusively market the Qiantu K50 in North America.

Mullen Technologies is a Southern California based licensed electric vehicle manufacturer and international distributer which owns Mullen Auto Sales, a fast-growing series of automobile dealerships. Mullen also owns CarHub, a new and unique digital platform that leverages AI and offers a complete, fun to use solution for buying, selling and owning a car. The partnership is positioned to benefit both from Mullen's direct retail and automotive commerce digital capabilities.

In 2020, the Mullen-Qiantu collaboration will launch the Qiantu K50, a 402 bhp all-electric luxury sports car with aluminum frame and carbon fiber body closures. By importing assembly ready components and utilizing American sourced key components, the partnership intended by this cooperation will enable this exciting car to be available to North American consumers at an unexpectedly affordable cost. A limited number of reservations will be accepted by Mullen in 2019.

Mullen Tech CEO and Chairman David Michery stated, "Mullen is thrilled to embark on this journey together with Qiantu to bring sexy and exciting new options to North American consumers. The 100% electric Qiantu K50 meets exotic automobile criteria without the exotic price tag. I believe that we can grow clean transportation in North America by bringing highly desirable options to market. Mullen Technologies, with its technology, commercial teams and distribution systems in place is geared to accomplish exactly that."

SOURCE Mullen Technologies
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