Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced a partnership with Global EV Technology, Inc. and EV Technologies, LLC. (collectively “EVT”) to form Mullen Advanced Energy Operations, LLC. (“MAEO”) with initial development for improving energy management technology in electric vehicles for greater range and vehicle performance and scaling to other energy applications. Mullen owns 51% of the newly formed entity and will consolidate the results of its operations in Mullen Automotive. Under the agreement, Global EV Technology will contribute its technology and existing contracts to MAEO, and Mullen will provide capital, execution and commercialization to grow the business. Both companies will be contributing and collaborating on known verified technology for improving existing vehicle performance and extending battery range. As this technology has immediate and key implications for electric vehicles, MAEO’s initial development will focus on improving Mullen’s lineup of commercial and consumer EVs. Lawrence Hardge, a successful life-long inventor with a storied career of over 30 years, is the founder and chief scientific officer of Global EV Technology. “Lawrence is a talented inventor, and we are excited to begin working with him on improving electric vehicle performance,” said David Michery, CEO and chairman of Mullen Automotive. “We are always looking for forward-thinking and ground-breaking technology opportunities and are pleased to partner with Global and EV Technologies.”
To view the full news release, visit https://ibn.fm/xw33w
About Mullen Automotive Inc.
Mullen is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in 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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