BREA, Calif., April 21, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces solid-state polymer battery testing with the Battery Innovation Center (BIC) in Indiana. BIC is focused on the rapid development, testing and commercialization of safe, reliable and lightweight energy storage systems for defense and commercial customers.
Started in 2013, Battery Innovation Center’s mission is focused on promoting the rapid development, testing, commercialization, and advanced learning of safe, reliable, high-performance, and lightweight energy storage systems for commercial, defense, academic partners and industry. BIC is a collaborative initiative designed to incorporate leadership from renowned universities, government agencies, and commercial enterprises.
The Battery Innovation Center will perform the following tests on Mullen’s solid-state polymer battery.
- Constant Current Discharge Test
Testing to determine the effective capacity of a test unit using very repeatable, standardized conditions.
- Peak Power Test
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.
“We look forward to testing Mullen’s cells capabilities and associated performance,” stated Seth McCoy, T&E Engineer from Battery Innovation Center in Indiana.
Previously Mullen highlighted test results conducted by EV Grid. Tom Gage, from EV Grid was recently featured on Risk On Podcast to discuss previously reported results. The test data collected by EV Grid showed an impressive outcome and future for solid-state batteries. The solid-state battery cell was rated at 300 Ah (ampere-hour), at test the battery yielded 343 Ah at 4.3 volts. It is expected that this technology, when scaled to the vehicle pack level, a 150-kilowatt hour solid-state battery can 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.
“We have begun working with the Battery Innovation Center located in Indiana to retest and certify our solid-state battery,” said David Michery, CEO and chairman of Mullen Automotive. “BIC is a well-respected battery laboratory, and we look forward to publishing their results related to cell testing coming up in May.”
On Nov. 5, 2021, Mullen began trading on the Nasdaq Capital Markets LLC (“Nasdaq”) under the new stock ticker symbol “MULN.” Since Mullen’s first quarter as a public company starting in Q4 ‘21, the Company has debuted two versions of the Mullen FIVE show cars and announced the purchase of a vehicle manufacturing facility in Tunica, Mississippi. At the end of Q2 ‘22, Mullen reported over $65 million in cash and cash equivalents on hand for continued momentum and programs development.
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 EVs to market with the latest technology and in the least amount of time.
Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, the Mullen ONE EV Fleet Vans, and the DragonFLY Sports Car. 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 Different™” and exciting to experience in person. The 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 it made its debut. The Company has also recently filed over 120 patents in 24 countries related to the Mullen FIVE. The Mullen ONE, coming to market in Q2 2022, will be available in two classes of electric vans and will be designed, manufactured and customized by Mullen at its Tunica, Mississippi, manufacturing facility. Learn more about Mullen’s EVs at www.MullenUSA.com.
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.
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.
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 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; 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.
Mullen Automotive, Inc.
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