Mullen and Development Partner Take Solid-State Polymer Battery Cell Technology to the Vehicle Pack Level
May 16 2022 - 7:30AM
via InvestorWire -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen”
or the “Company”), an emerging electric vehicle (“EV”)
manufacturer, announces today an update on its partnership with
Linghang Guochuang Group (LGG). The Mullen and LGG partnership is
currently focused on taking solid-state polymer battery cell
technology into vehicle pack level development for Mullen
Automotive. Solid-state polymer batteries are currently planned for
the second generation of the Mullen FIVE EV Crossover.
Mullen and LGG are on track with their existing partnership,
which was originally started in late 2019 and subsequently
sidelined in 2020 due to the COVID-19 outbreak. In recent months,
the two companies have made progress and are pleased to announce
they have started integration of the solid-state polymer cell
technology into the vehicle pack level. Mullen has announced
previously that solid-state polymer batteries are currently planned
for the second generation of the Mullen FIVE EV Crossover. Data
collected from solid-state cell testing shows impressive results
for solid-state batteries, including potential range of 600 miles
on a full charge and over 300 miles of range delivered in 18
minutes with DC fast charging.
“Linghang Guochuang is pleased to be able to continue on with
our original written agreement (11-26-2019) with Mullen,” said Yao
Wang, GM for Linghang Guochuang.
“I am pleased to announce today that Mullen Automotive and LGG
are moving forward on solid-state vehicle pack level development,”
said David Michery, CEO and chairman of Mullen Automotive. “Scaling
from the cell level to pack level development is a major
accomplishment and one I am proud to announce is progressing with
LGG as our partner.”
Mullen recently announced the “Strikingly Different” U.S. Test
Drive Tour, covering 19 cities across the U.S. The tour will
begin this fall in Southern California and work its way throughout
the U.S. Further details can be found here, or place your Mullen
FIVE reservation here.
About MullenMullen 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.
Forward-Looking StatementsCertain 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 the Company will achieve its objectives
of launching its EV crossover, the FIVE, within anticipated
timelines and, if so, if the FIVE will be a success; whether
production of its own EV battery packs will be successful, reduce
dependency on third-party suppliers or result in lower costs and
increased overall quality; and whether the Company’s partnerships
with ARRK, Dürr, and DSA Systems and Over the Air (OTA) will result
in expediting the rollout of the FIVE. Additional examples of such
risks and uncertainties include but are not limited to:
(i) Mullen’s ability (or inability) to obtain additional
financing in sufficient amounts or on acceptable terms when needed;
(ii) Mullen's ability to maintain existing, and secure
additional, contracts with manufacturers, parts and other service
providers relating to its business;
(iii) Mullen’s ability to successfully expand in existing
markets and enter new markets; (iv) Mullen’s ability to
successfully manage and integrate any acquisitions of businesses,
solutions or technologies; (v) unanticipated operating costs,
transaction costs and actual or contingent liabilities; (vi) the
ability to attract and retain qualified employees and key
personnel; (vii) adverse effects of increased competition
on Mullen’s business; (viii) changes in government
licensing and regulation that may adversely
affect Mullen’s business; (ix) the risk that changes in
consumer behavior could adversely affect Mullen’s business;
(x) Mullen’s ability to protect its intellectual property; and
(xi) 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)
613-1900www.MullenUSA.com
Wire Service Contact:InvestorWire (IW) Los
Angeles, Californiawww.InvestorWire.com212.418.1217
OfficeEditor@InvestorWire.com
- Mullen and LGG progress to pack level development for
solid-state polymer batteries
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