EV Manufacturer Mullen Announces Progress on Solid-State Polymer Battery Pack Development
February 28 2022 - 4:00AM
via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN)
(“Mullen” or the “Company”), an emerging electric vehicle (“EV”)
manufacturer, announces an update on Mullen’s next-generation
solid-state polymer battery technology, which is a significant
advancement over today’s current lithium-Ion batteries.
Mullen’s testing of solid-state polymer cells reveals the
potential for a 150-kilowatt-hour battery pack that delivers over
600-plus miles of range and highlights an 18-minute DC fast charge
which can yield over 300 miles of range. Mullen is working
towards utilizing solid-state polymer battery packs in its second
generation Mullen FIVE EV Crossovers, with in-vehicle prototype
testing set for 2025. Mullen’s first-generation FIVE EV Crossover,
due in late 2024, is planned to launch with traditional lithium-ion
cell chemistry.
Mullen is also conducting extensive research and development
into other advanced battery technologies, including lithium-sulfur
and lithium-iron-phosphate. Mullen's ultimate goal is to deliver EV
batteries that will surpass today's existing lithium-Ion technology
and offer a host of benefits such as increased efficiency, energy
density, and range while also lowering the cost, weight, thermal
and environmental risks.
“We’ve conducted successful testing and will begin pack level
development next,” said David Michery, CEO and chairman of Mullen
Automotive. “The test data collected shows an impressive outcome
and future for solid-state batteries. To sum up, we tested our 300
Ah (ampere hour) cell which yielded 343 Ah at 4.3 volts, and the
results surpassed all expectations. We can say with almost
certainty that this technology, once implemented on the Mullen
FIVE, will deliver over 600 miles of range on a full charge. The
future is bright for Mullen Automotive.”
Mullen has recently announced a string of key partnerships with
hofer powertrain, Comau, ARRK, Dürr, and DSA Systems for EV
powertrain, engineering, manufacturing, vehicle production systems,
and over-the-air (OTA) and vehicle system diagnostics,
respectively. The Company expects these strategic developments to
play a crucial role in bringing the FIVE to market with the latest
technology and in the shortest amount of time. Mullen FIVE was also
named "Top Zero Emission SUV" as part of the ZEVA® Awards at the
Los Angeles International Auto Show in November 2021, where the
vehicle made its debut.
The FIVE is built on an EV crossover skateboard platform that
offers multiple powertrain configurations and trim levels in a
svelte design that is “Strikingly DifferentTM” and exciting to
experience in person. Learn more about the Mullen FIVE at
MullenUSA.com.
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; 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; and (x) Mullen’s ability to protect its
intellectual property; (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
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