Mullen Automotive and Qiantu Motors to Launch EV Supercar Branded Mullen GT and GTRS with Program Start Commencing March 20, 2023
March 20 2023 - 9:00AM
via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN)
(“Mullen” or the “Company”), an emerging electric vehicle (“EV”)
manufacturer, announces today that it has been granted the North
and South American IP and distribution rights from Qiantu Motors
and affiliated companies as part of a license agreement allowing
assembly and distribution of the DragonFLY K50 in the Americas.
The DragonFLY vehicle proportions and carbon fiber construction
contribute to a striking design that is dramatic and timelessly
beautiful. Mullen will begin its program to re-engineer and
re-design the product to meet homologation requirements for U.S.
certification and customer expectations for today’s supercars.
These modifications will be in line with Mullen’s vehicle design
language currently found in the Mullen FIVE and Mullen FIVE RS. To
ensure supercar status, the vehicle will also feature an updated
powertrain, targeting sub 2.0 sec 0-60 MPH and a top speed
exceeding 200 MPH.
“Qiantu has been working on developing electric vehicles since
2013. We are honored to cooperate with Mullen Automotive to bring
Qiantu K50 to the U.S. market,” said Chairman Lu of Qiantu Motors.
“As an important step in Qiantu's internationalization, we are
confident that the Qiantu K50 will reach even more customers and
provide a superior driving experience. With its sleek design,
excellent driving and handling performance, and impressive full
carbon fiber exterior, we believe the Qiantu K50 will be a success
in the U.S. EV market, offering users a new level of performance
and convenience.”
“This agreement with Qiantu is an important milestone for the
Company. Not only does it settle a long outstanding dispute between
our respective companies, but also presents the opportunity to
fulfill my vision for a supercar that would rival some of the best
supercars in the world,” said Mullen’s CEO and Chairman David
Michery. “Since day one, we have received overwhelming positive
feedback for this vehicle, including our original debut at the 2019
New York Auto Show and the Indy 500 in May 2019. We are excited to
start the GT and GTRS programs on March 20, 2023.”
Additional information can be found on Mullen Automotive’s most
recently filed 8-K, found here.
About MullenMullen 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
I-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 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.
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 whether the program start for the Mullen GT and GTRS
will commence on March 20, 2023, as anticipated, whether final
assembly of the vehicle will take place in Mishawka, Indiana,
whether the EV supercar will achieve the expected performance
specifications including the speed of 0-60 MPH in 1.95 seconds and
a top speed over 200 MPH, the timing of potential homologation for
U.S. certification, whether modifications to the vehicle will be in
line with Mullen’s vehicle design language currently found in the
Mullen FIVE and Mullen FIVE RS, whether the Mullen GT and GTRS will
rival some of the best supercars in the world or prove successful
for the Company. 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
Corporate Communications:InvestorBrandNetwork
(IBN)Los Angeles,
Californiawww.InvestorBrandNetwork.com310.299.1717
OfficeEditor@InvestorBrandNetwork.com
- Qiantu K50 Rebranded and Relaunched as Mullen GT and GTRS
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