Mullen Automotive, Inc (MULN) Announces Electric Vehicle Program Update



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Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging manufacturer of electric vehicles (“EV”), today announces an update for Mullen shareholders on the Mullen FIVE EV Crossover program and the Mullen EV Cargo program Van.

“I am delighted to share updates on our vehicle programs for our valued shareholders. The Mullen team have worked diligently on key initiatives both here in Southern California and outside of Tunica, Mississippi, at our AMEC manufacturing facility for our FIVE EV Crossover and EV Cargo Van programs, ”said David Michery, CEO and President of Mullen Automotive.

Mullen FIVE program

The Mullen engineering team, along with our supplier partners, are making good progress in completing the first fully functional vehicles for the Mullen FIVE Launch Edition and Mullen FIVE RS, High Performance Edition. The work in progress includes the adaptation of the battery, involving the cooling system and the protection of the underbody. The Body in White (BIW) team focuses on structural reinforcements to the vehicle frame and material selection.

The schedule for the first fully functional and drivable vehicles, including the FIVE RS, is currently on track for the third quarter of 2022. Mullen is planning media and consumer events in late summer and into the summer. early fall, where Mullen FIVE reservation holders and guest media get the full vehicle experience, including the FIVE test drive in person.

Mullen EV Cargo Van program

The Mullen EV Cargo Van program continues to progress solidly at the Mullen Advanced Manufacturing and Engineering Center (AMEC), located outside of Tunica, Mississippi, with the completion of the van assembly process. Despite global issues with Covid and shipping delays, the company is on track to deliver the first units to customers on fleet orders in the second quarter of 2022.

Mullen’s Class 1 EV Van (CarGO®) is based on a 120-inch wheelbase, 40 kilowatt-hour (kWh) battery, rear-wheel drive, and 210 cubic feet of modular cargo space. The vehicle’s range is estimated at 160 miles with a maximum payload of 2,249 pounds. Mullen’s Class 2 EV Van (ONE®) is based on a 144-inch wheelbase, 78.8 kWh battery, rear-wheel drive and 460 cubic feet of modular cargo space. The vehicle’s range is estimated to be over 200 miles with a maximum payload of 3,296 pounds.

Mullen also recently announced a series of key partnerships with ARRK, Dürr and DSA Systems for automotive engineering, vehicle production systems and Over the Air (OTA) diagnostics and vehicle systems, respectively. The Company expects these strategic developments to play a crucial role in bringing FIVE to market with the latest technology and in minimum time. The Mullen FIVE was also recently selected as Best SUV at the ZEVA® Awards at the Los Angeles International Auto Show in November 2021.

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.

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