Mullen Expands US Battery Operations, Moves to Solid-State Polymer Pack Testing as EV Business Scales

New Fullerton, California, high-energy facility added to execute EV battery programs, including:

• Fullerton facility capable of producing 1 GWh/year
• Solid-state polymer BMS calibration for Class 1 EV cargo vans begins in December 2023, with testing of solid-state battery packs in Class 1 EV cargo vans in Q1 2024
• 110 miles current LFP range increases to over 190 SSP miles range, resulting in 73% increase
• Mullen's 190 mile plus range will be class-leading across all current available Class 1 commercial vehicles

BREA, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, today announces a new high-energy facility in Fullerton, California, expanding the Company's overall U.S. footprint, including EV battery development and production capabilities. This new Southern California facility is dedicated to producing next-generation American-made EV battery packs, a critical component to the Company's commitment to zero emissions. 

Mullen's high-energy pilot facility in Monrovia, California, will be consolidated with the recently purchased Romeo Power assets at the Company's new high-energy and high-volume battery pack production facility in Fullerton, California. Mullen plans to close the Monrovia facility by the end of 2023, transferring existing battery testing and production equipment to the brand new and state-of-the-art location in Fullerton.

Beginning in December 2023, Mullen will begin calibration of the solid-state polymer ("SSP") battery BMS for integration into the Class 1 EV cargo van. The Company will begin drivable testing of the solid-state polymer battery packs in the Class 1 EV cargo van in Q1 2024.

Solid-State Polymer EV Pack Highlights ? Mullen ONE, Class 1 EV Cargo Van

• Current LFP chemistry, 42 kilowatt hrs to 72 kilowatt hrs with new SSP chemistry
• 110 miles current LFP range to over 190 miles SSP range, resulting in 73% increase
• Mullen's 190 mile plus range will be class-leading across all current available Class 1 commercial vehicles

The Company's increased focus on American-made and packaged EV batteries has been further accelerated with the passage of the Inflation Reduction Act ("IRA") in 2022, which now includes significant incentives for customers to purchase EVs and to electric vehicle manufacturers to produce "American Made" EVs with domestically sourced battery materials and packaging.

"We are one step closer to fulfilling our commitment to providing the next-generation of battery technology to our lineup of EV vehicles, providing a clean and safe alternative to current lithium-ion batteries," 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 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-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 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 the production volume that will be realized at the Fullerton facility, the anticipated timing for calibrating the solid-state polymer BMS for Class 1 EV cargo vans and testing the solid-state battery packs in those vans, whether the expected mileage range will be realized and, if so, whether the Company will be the leader in this regard in available Class 1 commercial vehicles, the anticipated timelines for closing the Monrovia facility and transferring the existing battery testing and production equipment to the Fullerton, California, location and whether the Company's EV battery development and production initiatives will prove successful. 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
[email protected]

Attachments

• Mullen Class 1 EV cargo van to begin road testing solid-state batteries in Q1 2024
• Mullen's new 122K-sq.-ft. high-energy facility in Fullerton, CA