Mullen Automotive Accelerates Implementation of Its Solid-State Polymer Battery Technology to Integrate with Class 1 EV Cargo Vans
Mullen Automotive (NASDAQ: MULN) announced the integration of solid-state polymer battery technology into its Class 1 EV cargo vans, aiming to boost the range from 110 miles to over 200 miles on a single charge. Testing of this innovative battery technology is set to begin on US roads in Q4 2023. This advancement promises higher energy density, quicker charging, and improved safety compared to traditional lithium-ion batteries. The company's partnership with Linghang Guochuang Holding Group is pivotal in implementing this technology, marking a significant step in enhancing the performance and efficiency of commercial electric vehicles.
- Integration of solid-state polymer battery technology expected to increase range from 110 miles to over 200 miles.
- Testing of technology to commence on US roads in Q4 2023.
- Partnership with Linghang Guochuang Holding Group enhances technological capabilities.
- Risks related to the successful performance of solid-state batteries during testing.
- Uncertainty regarding whether the product launches will happen within the expected timelines.
Solid-state battery technology will offer customers the longest range commercial EVs available today. Mullen will begin testing solid-state polymer battery technology in test vehicles on US roads in Q4 2023.
- Class 1 commercial EV cargo vans to be outfitted with Mullen’s solid-state polymer battery technology, increasing current range from 110 miles to more than 200 miles on a single charge
- The first Class 1 EV cargo van test vehicles with the solid-state polymer technology will be hitting the roads for testing by Q4 2023
BREA, Calif., April 04, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today integration of solid-state polymer battery technology into Mullen’s commercial Class 1 EV cargo van program.
Currently, the Mullen Class 1 EV cargo van features a 46-killowatt lithium-ion battery pack with a 110-mile range. It is expected that the solid-state polymer technology will deliver more than 200 miles of range on a full charge for the Mullen Class 1 EV cargo van. In general, solid-state batteries offer higher energy density, faster charging time, smaller size, and better safety compared to traditional lithium-ion cells. Mullen will begin testing this technology in its Class 1 EV cargo vans starting in Q4 2023.
“Electric vehicles for fleet applications are proven to reduce maintenance and operating costs,” said John Schwegman, chief commercial officer of Mullen Automotive. “Offering a higher-range battery option at a similar cost structure would significantly increase the number of use cases and routes in which commercial customers could deploy EVs.”
“The Linghang Guochuang Holding Group Co., Ltd. partnership with Mullen brings next-generation LH solid-state battery technology to the forefront of vehicle production. Our partnership accelerates the world’s use of solid-state polymer battery technology, not only on the vehicle level, but at all levels. We are pleased to be the first company in the U.S. to implement LH solid-state polymer battery technology in a commercial vehicle in conjunction with Mullen Automotive,” said Yao Wang, general manager, new energy power business department, Linghang Guochuang Holding Group Co., Ltd.
“The continued development of solid-state polymer batteries into our portfolio of vehicles, starting with the Class 1 EV cargo van, demonstrates our continued commitment to improving battery efficiency and overall vehicle performance," said David Michery, CEO and chairman of Mullen Automotive.
About Linghang Guochuang Holding Group Co., Ltd.
Linghang Guochuang Holding Group offers special solid-state polymer lithium and other advanced technology batteries that enable improved performance with environmental responsibility in mind.
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen I-GO Commercial Urban Delivery EV, 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. 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.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to: (i) whether the commercial product launches contemplated for 2023 will materialize within the slated timelines; (ii) whether the solid-state battery will perform as expected and will prove to result in the longest range for current commercial EVs; whether testing of the solid-state polymer battery technology in the Mullen commercial Class 1 EV cargo van will commence within the expected Q4 2023 timeframe; whether the expected increase in range will materialize; whether Mullen will realize its objective of offering its higher-range battery option at a similar cost structure to traditional lithium-ion cells; whether use of the solid-state polymer battery technology will be a success or result in an increase interest for Mullen vehicles or result in sales; (iii) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (iv) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (v) Mullen’s ability to successfully expand in existing markets and enter new markets; (vi) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (vii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (viii) the ability to attract and retain qualified employees and key personnel; (ix) adverse effects of increased competition on Mullen’s business; (x) changes in government licensing and regulation that may adversely affect Mullen’s business; (xi) the risk that changes in consumer behavior could adversely affect Mullen’s business; (xii) Mullen’s ability to protect its intellectual property; and (xiii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
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