Mullen Issues Update on Its Solid-State Polymer Battery Testing
May 10 2022 - 6:00AM
via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN)
(“Mullen” or the “Company”), an emerging electric vehicle (“EV”)
manufacturer, announces today an update on Mullen’s solid-state
polymer battery testing with the Battery Innovation Center (BIC) in
Indiana.
Battery Innovation Center has completed the cell preconditioning
in preparation for cell performance cycling. This is a C/20
preconditioning format to establish cell capacity baseline.
BIC will enter into high rate cycling as part of the
performance-based cycling with those results forthcoming.
It is expected that this technology, when scaled
to the vehicle pack level, will deliver a 150-kilowatt hour,
solid-state battery able to deliver over 600 miles of range on a
full charge for the Mullen FIVE EV Crossover. In general,
solid-state batteries offer higher energy density, faster charging
time, smaller size and safety compared to traditional lithium-ion
cells.
“I am pleased with the initial preconditioning results on our
solid-state polymer battery cell and we’re progressing to the next
stage of testing with BIC,” said David Michery, CEO and chairman of
Mullen Automotive. “The battery has performed well and I’m looking
forward to see finalized testing results from BIC later this
month.”
“We are in process with Mullen’s cell and are looking forward to
continued testing with final results due later this month,” said
Ben Wrightsman from Battery Innovation Center.
The Battery Innovation Center will continue to perform the
following tests on Mullen’s solid-state polymer battery, with final
results expected in late May 2022.
- Constant Current Discharge Test
Testing to determine the effective capacity of a test unit using
very repeatable, standardized conditions.
The purpose of this test is to determine the sustained (30s)
discharge power capability of a battery at 2/3 of its OCV at each
of various depths of discharge (DOD).
- Constant Power Discharge Test
The purpose of this testing is to perform a sequence of constant
power discharge/charge cycles that define the voltage versus power
behavior of a battery as a function of depth of discharge. This
testing characterizes the ability of a battery to provide a
sustained discharge over a range of power levels representative of
electric vehicle applications. Constant power discharges are
similar to constant speed vehicle operation in their effect on a
battery.
About Battery Innovation Center (BIC)BIC is a
collaborative initiative designed to incorporate leadership from
renowned universities, government agencies and commercial
enterprises. The Battery Innovation Center focuses on the rapid
development, testing and commercialization of safe, reliable and
lightweight energy storage systems for defense and commercial
customers.
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’s Solid-State Polymer Battery Tested by Battery
Innovation Center in Indiana
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