Solid-state polymer pack level test and validation for Class 1 EV cargo vans begins Dec. 28, 2023

Vehicle road testing of solid-state battery packs in Class 1 EV cargo vans on track for Q1 2024

110 miles current LFP range projected to increase to over 190 SSP miles range, a 73% increase, providing a superior, clean and safe alternative to current lithium-ion batteries and representing a significant increase over industry standards

Mullen on track to begin Class 1 vehicle road testing of solid-state packs in Q1 2024

Class 1 projected vehicle range increases to over 190 miles with solid-state packs.

BREA, Calif., Dec. 27, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces the successful completion of solid-state polymer cell to pack integration for the Mullen ONE Class 1 EV cargo vans. Having completed the pack development, the solid-state BMS and pack level testing is set to kick off on Dec. 28, 2023. This progress allows the Company to remain on schedule to begin on-vehicle road testing of the solid-state polymer packs in the Class 1 EV cargo van in Q1 2024.

“We continue to make significant progress in fulfilling our commitment to providing the next-generation of battery technology to our lineup of EV vehicles, providing a clean and safe alternative to current lithium-ion batteries,” said David Michery, CEO and chairman of Mullen Automotive.

Solid-state polymer cells allow for increased safety and efficiency without sacrificing payload. The Mullen ONE with solid-state polymer battery pack highlights include:

190-mile estimated range

72-kilowatt solid-state polymer battery pack

4,881 lbs. GVWR

1,603 lbs. max payload

157-cubic-feet cargo volume

20-foot turning radius

About Mullen

Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana.

To learn more about the Company, visit www.MullenUSA.com.

Forward-Looking Statements

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 the results of the solid-state polymer pack level testing for the Class 1 EV, anticipated timing for road testing with the solid-state battery packs in the Class 1 EV; whether the projected LFP range increase and other performance specifications will materialize and whether the Company’s EV battery development and production initiatives will prove successful. 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.