MULN - InvestorNewsBreaks - Mullen Automotive Inc. (NASDAQ: MULN) Reports on Test Results for Acquired Tech Showing Major Energy Advancement
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has released test results from technology acquired through a recent joint venture. According to the announcement, previous vehicle test results, which were performed by Element Materials Technology, show that Energy Management module (“EMM”) technology resulted in range increase of 60%–70% along with an increase in efficiency of any current EV battery. In addition to the testing conducted by Element Materials, the EMM technology was tested by Mullen Automotive engineers on Mullen’s class 1 EV cargo van with results indicating a more than 75% increase in range for vehicle’s 42-kWh lithium-ion battery pack, which would be a calculated EPA estimated range of 186 miles; the added cost and mass would be minimal. Mullen indicated that the EMM technology is being integrated into product development, and the company anticipates the tech will be incorporated in all Mullen commercial and consumer vehicle programs. In addition, the company has filed a U.S. provisional patent application covering the technology. Element Materials Technology is a global leader of testing, inspection and certification with more than 200 testing labs worldwide. “Seeing the previous EMM test results conducted by Element, along with Global EVT testing, and correlating that with testing by our engineers, we believe this technology is a perfect fit for Mullen’s EV product lineup as well as the advancement in EV technology for the overall automotive industry,” said Mullen Automotive CEO and chair David Michery in the press release. “Mullen Advanced Energy Operations plans on licensing this technology to anyone who uses an electric vehicle.”
To view the full press release, visit https://ibn.fm/KkhnC
About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two company-owned, United States-based assembly plants. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen commercial class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and class 4-6 commercial offerings. The Mullen FIVE, the Company's first electric crossover, is slated for delivery in 2024 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions' (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
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