Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has announced plans to begin EV battery pack production out of its high voltage battery R&D facility located in Monrovia, California. In an effort to reduce dependency on third-party suppliers and reduce the risk associated with material and supply shortages, Mullen is retrofitting its Monrovia facility to accommodate the production of EV battery packs destined for the company’s EV vehicle lineup, including the ONE EV Cargo Van, FIVE EV Crossover and DragonFLY EV Sportscar programs. By taking production in-house, Mullen will also lower costs and increase overall quality control in battery pack development. “Building our own battery packs makes sense as it reduces our reliance on third-party suppliers and lessens our risk of being subjected to the waves of supply and critical component shortages,” said David Michery, CEO and chairman of Mullen Automotive. “The entire industry is struggling with supply chain issues and the more control we have in-house, the better off our vehicle programs will be. Our Monrovia facility is already established for high voltage applications so retrofitting it for our battery pack development makes good sense for our company and shareholders.”
To view the full press release, visit https://ibn.fm/UJpxh
About Mullen Automotive Inc.
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. For more information 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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