• MULN shares traded higher after Benzinga stated that the emerging EV manufacturer had reported higher-than-expected battery test results
• Data shows the company’s proprietary solid-state polymer batteries can deliver more than 600 miles of range on a full charge
• The company plans to include the new batteries in its second-generation Mullen FIVE EV Crossover

Mullen Automotive (NASDAQ: MULN) was featured in a recent Benzinga Brief. The short summary noted that the company, an emerging electric-vehicle manufacturer, had reported results of its solid-state polymer battery testing, which exceeded expectations (https://ibn.fm/XI6Fa).

Noting that shares were trading higher after the news, Benzinga quoted David Michery, Mullen CEO and chair, as saying, “The battery has performed exceptionally well, and I’m pleased with the results from BIC [Battery Innovation Center] in Indiana.”

“Testing results from BIC show the solid-state polymer cell, rated at 300 Ah and 3.7 volts, tested at 343.28 Ah at 4.2 volts, exceeding expectation, and is in line with test tolerance from previous EV Grid test results,” the brief continues. “The data supports solid-state polymer battery cell technology [that], when scaled to the vehicle pack level and at a 150-kilowatt hour equivalent, can deliver over 600 miles of range on a full charge for the Mullen FIVE EV Crossover.”

While the company plans to continue to test additional parameters to characterize overall capabilities and performance, these positive results bode well for the Southern California–based company, which owns and partners with synergistic businesses that share the same goal: to create clean, scalable electric vehicles and energy solutions (https://ibn.fm/D8vYz).

The company announced plans to include the new solid-state polymer batteries in its second-generation Mullen FIVE EV Crossover (https://ibn.fm/Br0nl). In addition to offering more than 600 miles of range, the batteries can deliver 300 miles of range after an 18-minute DC fast charge. 

“We’ve conducted successful testing and will begin pack-level development next,” said Michery, who called the future bright for the nascent EV company. Key to the company’s success are several partnerships the company has built recently, including with hofer powertrain, Comau, ARRK, Dürr and DSA Systems. These partners will help Mullen produce improved EV powertrain, engineering, manufacturing, vehicle production systems, and over-the-air (“OTA”) and vehicle system diagnostics. 

“[Mullen] 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,” the company stated. 

The Mullen FIVE RS is a high-performance EV featuring close to 1,100 horsepower, 0 to 60 mph in only 1.95 seconds, and a top speed of almost 200 miles per hour (https://ibn.fm/KaCIj). The vehicle was awarded Top Zero Emission SUV as part of the ZEVA Awards at the Los Angeles International Auto Show in November 2021, where it debuted.

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

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