Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has announced plans to begin EV battery pack production out of its high voltage battery R&D facility located in Monrovia, California. In an effort to reduce dependency on third-party suppliers and reduce the risk associated with material and supply shortages, Mullen is retrofitting its Monrovia facility to accommodate the production of EV battery packs destined for the company’s EV vehicle lineup, including the ONE EV Cargo Van, FIVE EV Crossover and DragonFLY EV Sportscar programs. By taking production in-house, Mullen will also lower costs and increase overall quality control in battery pack development. “Building our own battery packs makes sense as it reduces our reliance on third-party suppliers and lessens our risk of being subjected to the waves of supply and critical component shortages,” said David Michery, CEO and chairman of Mullen Automotive. “The entire industry is struggling with supply chain issues and the more control we have in-house, the better off our vehicle programs will be. Our Monrovia facility is already established for high voltage applications so retrofitting it for our battery pack development makes good sense for our company and shareholders.”
To view the full press release, visit https://ibn.fm/VuhvU
About Mullen Automotive Inc.
Mullen 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. For more information about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.investorwire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]
InvestorWire is part of the InvestorBrandNetwork.