Mullen Advanced Energy Operations Provides Update on EMM Installation for D.C. City Government
April 28 2023 - 8:30AM
via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer, today
issues an update on testing and installation of Energy Management
Modules (“EMM”) on 40 Chevrolet Bolts within the Washington, D.C.,
city government’s vehicle fleet.
The testing is being conducted in collaboration with Mullen
Advanced Energy Operations (“MAEO”), which is a 51%-owned
subsidiary of Mullen Automotive, with EV Technologies, LLC and
Global EV Technology, Inc. as partners. The $680,000 contract was
previously awarded by the District of Columbia, Washington, D.C.,
to EV Technologies, LLC for the purchase and installation of EMM
units on Chevrolet Bolts with the D.C. city government’s vehicle
fleet.
The initial phase of contract execution requires vehicle
calibration testing on a dynamometer. Mullen and EV Technologies’
team of engineers were onsite in D.C. this week to perform the
required tests, including the dyno testing, with the first wave of
vehicles completed as planned. The phase two planned for next week
includes the installation of the EMM units and a second dyno test
before the vehicles are placed back into rotation for the D.C. city
government to use with the EMM installed.
Previous testing has indicated that Energy Management Module
(“EMM”) technology substantially increases the driving range and
efficiency of any electric vehicle. In March 2021, Element
Materials Technology conducted specific vehicle testing on 2020
Chevy Bolts installed with EMM units, with test results indicating
a calculated increase in range from 269 to 431 miles, which is a
60% increase in efficiency.
“I am very pleased with the progress the team has made this week
executing the D.C. plan on time. We are expecting next week to have
EMM units installed and vehicles back in rotation for the D.C. city
fleet,” said David Michery, CEO and chairman of Mullen
Automotive.
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 two Company-owned United States-based assembly plants. Mullen's
EV development portfolio includes the Mullen FIVE EV Crossover,
Mullen Commercial Class 1 and 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 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: (i) the timing of the commencement or completion of
the different phases of the installation and testing of the Energy
Management Module (“EMM”) units and whether the installation of the
EMM units on the D.C. city government’s Chevrolet Bolt vehicle
fleet will be successfully implemented; whether the contract
awarded by the District of Columbia, Washington, D.C., to EV
Technologies, LLC will be assigned to MAEO as contemplated by the
agreement between Mullen and EV Technologies; whether the terms of
the city government contract will be honored by the contracting
parties; whether the pilot program with the District of Columbia,
Washington, D.C., will be successful or result in additional orders
or contracts; whether any other purchase orders or agreements for
the EMM technology will materialize; whether the test results,
which indicate that applying Energy Management Module (“EMM”)
technology to an electrical vehicle significantly increases vehicle
range, are accurate; whether the results achieved from the initial
testing by Element and Mullen are sustainable, scalable or will
produce the expected results when deployed in the city government’s
fleet of Chevrolet Bolts, the Company’s or other vehicles; whether
any expected vehicle range increases can be achieved at a low cost;
whether the Company’s recently acquired joint venture technology
will greatly improve current EV performance by increasing EV
vehicle range or otherwise; whether the projected increases in
range and mileage are accurate or achievable; whether the EMM
product will be successfully completed or integrated into the city
government’s fleet of Chevrolet Bolts or any other vehicles; and
whether the EEM product and associated technology will prove
beneficial; (ii) whether the commercial product launches
contemplated for 2023 will materialize within the slated timelines;
(iii) Mullen’s ability (or inability) to obtain additional
financing in sufficient amounts or on acceptable terms when needed;
(iv) Mullen's ability to maintain existing, and secure additional,
contracts with manufacturers, parts and other service providers
relating to its business; (v) Mullen’s ability to successfully
expand in existing markets and enter new markets; (vi) Mullen’s
ability to successfully manage and integrate any acquisitions of
businesses, solutions or technologies; (vii) unanticipated
operating costs, transaction costs and actual or contingent
liabilities; (viii) the ability to attract and retain qualified
employees and key personnel; (ix) adverse effects of increased
competition on Mullen’s business; (x) changes in government
licensing and regulation that may adversely affect Mullen’s
business; (xi) the risk that changes in consumer behavior could
adversely affect Mullen’s business; (xii) Mullen’s ability to
protect its intellectual property; and (xiii) 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, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
- Mullen began testing and install of EMM units this week in
Washington, D.C.
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