Mullen Submits Updated Plan to DOE for Grant Funding Opportunity in US Battery Materials Processing, Requesting $55M in Funding
Mullen Automotive (NASDAQ: MULN) has submitted an updated plan to the Department of Energy (DOE) for a $55 million grant funding opportunity in US battery materials processing. The company has already invested $12 million in battery development and manufacturing, with plans to invest an additional $43 million. The strategy includes relocating high-volume production to Mishawaka, Indiana, which will have a capacity of 108,000 battery systems or 1 gigawatt-hour per year, while the Fullerton, California facility will focus on R&D and solid-state prototype production.
The company plans to begin production deliveries in mid-2025, with two additional production lines scheduled for launch in the following years. Mullen is also considering adding a low-voltage line for 24-volt and 48-volt battery modules.
Mullen Automotive (NASDAQ: MULN) ha presentato un piano aggiornato al Dipartimento dell'Energia (DOE) per un'opportunità di finanziamento di un grant di 55 milioni di dollari per la lavorazione dei materiali delle batterie negli Stati Uniti. L'azienda ha già investito 12 milioni di dollari nello sviluppo e nella produzione di batterie, con piani per investire ulteriori 43 milioni di dollari. La strategia prevede il trasferimento della produzione ad alto volume a Mishawaka, Indiana, che avrà una capacità di 108.000 sistemi di batterie o 1 gigawattora all'anno, mentre l'impianto di Fullerton, California, si concentrerà su R&S e produzione di prototipi a stato solido.
L'azienda prevede di iniziare le consegne di produzione a metà 2025, con due ulteriori linee di produzione in programma per il lancio negli anni successivi. Mullen sta anche considerando l'aggiunta di una linea a bassa tensione per moduli di batteria da 24 volt e 48 volt.
Mullen Automotive (NASDAQ: MULN) ha presentado un plan actualizado al Departamento de Energía (DOE) para una oportunidad de financiamiento de 55 millones de dólares para la procesación de materiales de batería en los EE. UU. La compañía ya ha invertido 12 millones de dólares en el desarrollo y fabricación de baterías, con planes de invertir otros 43 millones de dólares. La estrategia incluye el traslado de la producción de alto volumen a Mishawaka, Indiana, que tendrá una capacidad de 108,000 sistemas de baterías o 1 gigavatio-hora al año, mientras que la instalación de Fullerton, California, se centrará en I+D y producción de prototipos de estado sólido.
La empresa planea comenzar las entregas de producción a mediados de 2025, con dos líneas de producción adicionales programadas para su lanzamiento en los años siguientes. Mullen también está considerando agregar una línea de baja tensión para módulos de baterías de 24 voltios y 48 voltios.
멀렌 오토모티브 (NASDAQ: MULN)가 미국 배터리 소재 가공을 위한 5천5백만 달러 보조금 기회를 위해 에너지부(DOE)에 업데이트된 계획을 제출했습니다. 이 회사는 이미 배터리 개발 및 제조에 1천2백만 달러를 투자했으며, 추가로 4천3백만 달러를 투자할 계획입니다. 이 전략은 인디애나주 미샤와카로 고율량 생산을 이전하는 것을 포함하며, 연간 108,000개의 배터리 시스템 또는 1기가와트 시의 용량을 갖출 예정입니다. 동시에 캘리포니아주 풀러턴의 시설은 R&D 및 고체 배터리 프로토타입 생산에 집중할 것입니다.
회사는 2025년 중반부터 생산 납품을 시작할 계획이며, 이후 몇 년 동안 추가 생산 라인이 가동될 예정입니다. 멀렌은 24볼트 및 48볼트 배터리 모듈을 위한 저전압 라인을 추가하는 것도 고려하고 있습니다.
Mullen Automotive (NASDAQ: MULN) a soumis un plan mis à jour au Département de l'énergie (DOE) pour un financement de 55 millions de dollars dans le traitement des matériaux de batteries aux États-Unis. L'entreprise a déjà investi 12 millions de dollars dans le développement et la fabrication de batteries, avec des projets d'investir 43 millions de dollars supplémentaires. La stratégie inclut le déménagement de la production à fort volume à Mishawaka, Indiana, qui aura une capacité de 108 000 systèmes de batteries ou 1 gigawatt-heure par an, tandis que l'installation de Fullerton, Californie, se concentrera sur la R&D et la production de prototypes à état solide.
L'entreprise prévoit de commencer les livraisons de production à la mi-2025, avec deux lignes de production supplémentaires prévues pour être lancées dans les années suivantes. Mullen envisage également d'ajouter une ligne basse tension pour les modules de batterie de 24 volts et 48 volts.
Mullen Automotive (NASDAQ: MULN) hat einen aktualisierten Plan beim Energieministerium (DOE) für eine Fördermöglichkeit in Höhe von 55 Millionen Dollar für die Verarbeitung von Batteriematerialien in den USA eingereicht. Das Unternehmen hat bereits 12 Millionen Dollar in die Entwicklung und Herstellung von Batterien investiert und plant, weitere 43 Millionen Dollar zu investieren. Die Strategie sieht vor, die Hochvolumenproduktion nach Mishawaka, Indiana, zu verlagern, wo eine Kapazität von 108.000 Batteriesystemen oder 1 Gigawattstunde pro Jahr erreicht werden soll, während die Einrichtung in Fullerton, Kalifornien, auf Forschung und Entwicklung sowie die Produktion von Prototypen mit Festkörpertechnologie fokussiert wird.
Das Unternehmen plant, die Produktionslieferungen Mitte 2025 zu beginnen, mit zwei zusätzlichen Produktionslinien, die in den folgenden Jahren in Betrieb genommen werden sollen. Mullen zieht außerdem in Erwägung, eine Niederspannungslinie für 24-Volt- und 48-Volt-Batteriemodule hinzuzufügen.
- Potential access to $55M in DOE matching funds for battery production
- Established production capacity of 108,000 battery systems annually
- Strategic acquisitions from Romeo Power and Nikola for battery production
- $12M already invested in battery development with $43M additional planned investment
- Production deliveries not starting until mid-2025
- Significant capital requirements with $43M additional investment needed
- Grant funding not yet secured, only application submitted
Insights
The DOE grant application represents a strategic pivot in Mullen's manufacturing footprint. The
The bifurcation between Mishawaka (high-volume production) and Fullerton (R&D, prototyping) creates a logical operational structure. The potential addition of 24V/48V battery lines could diversify revenue streams beyond pure EV applications into commercial and industrial markets. However, the mid-2025 production timeline suggests a lengthy ramp-up period that could strain financial resources.
The strategic acquisition of Romeo Power and Nikola battery assets provides Mullen with established intellectual property and production capabilities, potentially reducing development timelines. The commitment to solid-state battery prototyping at Fullerton indicates forward-thinking technology development, though commercialization remains uncertain. The
The 1 GWh annual capacity target positions Mullen as a niche player in the broader battery market. The focus on both high and low-voltage systems shows market adaptability, but success will depend heavily on achieving cost-competitive production and maintaining quality standards in a rapidly evolving technological landscape.
- On Dec. 17, 2024, Mullen Automotive submitted a modified plan to the DOE that incorporates its facilities in Mishawaka, Indiana, and Fullerton, California, for U.S.-based battery and pack production.
- Mullen is in position to transition to manufacturing and assembly of high-voltage and low-voltage battery systems in the United States.
- Mullen has made substantial investments and strategic decisions that underscore the Company’s commitment to advancing U.S. manufacturing.
- Mullen has invested
$12 million to date to further battery and pack development and manufacturing, and will invest an additional$43 million in support of U.S. production.
- In total, Mullen is seeking
$55 million in matching DOE funds to support the U.S. manufacturing capabilities and to expand production in response to global demand.
- Mullen investments include strategic acquisitions, including assets from Romeo Power and Nikola for battery pack production, and key infrastructure investments designed to increase speed to market.
- Mullen’s first production units are planned for delivery in late mid-2025 with two additional production lines scheduled to launch in each of the next two years.
- A key update in Mullen’s battery business strategy involves the relocation of high-volume production to Mishawaka, where the Company will build out the primary battery manufacturing lines. The Fullerton facility will be dedicated to research and development as well as low-volume, solid-state prototype production. Additionally, Mullen is considering adding a low-voltage line capable of producing 24-volt and 48-volt battery modules.
- Mullen is dedicating the Mishawaka facility as the base for multiple battery production lines. This location, which is the former GM Hummer and AM General manufacturing facility, will be revitalized to accommodate a capacity of 108,000 battery systems or 1 gigawatt-hour per year.
- Mullen’s recent developments will strengthen the Company’s position as an innovative leader in battery manufacturing and further the DOE’s goals of supporting clean energy and advanced manufacturing in the U.S.
BREA, Calif., Dec. 19, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces it has submitted an updated plan in response to the U.S. Department of Energy’s (“DOE”) Funding Opportunity for Battery Materials (DE-FOA-0003099).
Established on Nov. 13, 2023, via the current administration, the program announces up to
“We are laser focused on bringing battery and pack production right here to the USA,” said David Michery, CEO and chairman of Mullen Automotive.
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to
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 whether Mullen’s Concept Paper submission will be favorably viewed, whether the Company will be awarded the
Contact:
Mullen Automotive, Inc.
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www.MullenUSA.com
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FAQ
How much DOE grant funding is MULN requesting for battery production?
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