Mullen Superior Vitality Operations Broadcasts Its Associate EV Applied sciences, LLC’s Contract with the District of Columbia
First contract for EMM expertise is Washington, D.C.’s metropolis authorities
Contract is for set up and discipline pilot of the Vitality Administration Module (‘EMM’).
Mullen’s Vitality Subsidiary in nation’s capital putting in EMM items right this moment.
BREA, Calif., April 24, 2023 (GLOBE NEWSWIRE) — by way of InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Firm”), an rising electrical automobile (“EV”) producer, declares that its majority owned subsidiary, Mullen Superior Vitality Operations (“MAEO”), will right this moment start execution of a $680,000 contract that was beforehand awarded by the District of Columbia, Washington, D.C., to EV Applied sciences, LLC. The contract is for the acquisition and set up of Vitality Administration Module items on Chevrolet Bolts inside the D.C. metropolis authorities’s automobile fleet.
Mullen and EV Applied sciences’ workforce of engineers are onsite in DC right this moment to begin putting in the EMM items onto the Chevrolet Bolts and to carry out the required checks included within the pilot. Earlier testing signifies that Vitality Administration Module (“EMM”) expertise considerably will increase the driving vary and effectivity of any present EV battery. In March 2021, Component Supplies Know-how performed particular automobile testing on 2020 Chevy Bolts put in with EMM items with check outcomes being a calculated enhance in vary from 269 to 431 miles, which is a 60% enhance in effectivity.
“I’m very proud that the primary main discipline software is with the DC metropolis authorities, the place we are going to reveal the advantages of our EMM expertise. We have now been engaged on this bid to safe the enterprise for a while and it’s a nice achievement to win this chance. I want to thank the various D.C. authorities officers who made this a actuality,” mentioned Lawrence Hardge, CEO of EV Know-how and chief scientific officer of MAEO.
“The DC metropolis venture is the primary of many who we now have deliberate for the brand new EMM expertise,” mentioned David Michery, CEO and chairman of Mullen Automotive, Inc. “Municipal metropolis fleets are an ideal use case for EVs and even higher with our Vitality Administration Modules added for extending automobile vary and efficiency. Ideally, the autos can spend much less time charging and extra time within the native communities for civic use and assist.”
Mullen Superior Vitality Operations is a 51%-owned subsidiary of Mullen Automotive with EV Applied sciences, LLC and International EV Know-how, Inc. as companions.
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive firm constructing the following technology of electrical autos (“EVs”) that shall be manufactured in two Firm owned United States-based meeting crops. Mullen’s EV growth portfolio contains the Mullen FIVE EV Crossover, Mullen Business Class 1 and three EVs and Bollinger Motors, which options each the B1 and B2 electrical SUV vehicles and Class 4-6 business choices. On Sept. 7, 2022, Bollinger Motors turned a majority-owned EV truck firm of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electrical Final Mile Options’ (“ELMS”) belongings, together with all IP and a 650,000-square-foot plant in Mishawaka, Indiana.
To be taught extra concerning the Firm, go to www.MullenUSA.com.
Ahead-Wanting Statements
Sure statements on this press launch that aren’t historic details are forward-looking statements inside the that means of Part 27A of the Securities Change Act of 1934, as amended. Any statements contained on this press launch that aren’t statements of historic reality could also be deemed forward-looking statements. Phrases equivalent to “proceed,” “will,” “could,” “may,” “ought to,” “count on,” “anticipated,” “plans,” “intend,” “anticipate,” “imagine,” “estimate,” “predict,” “potential” and related expressions are meant to establish such forward-looking statements. All forward-looking statements contain vital dangers and uncertainties that would trigger precise outcomes to vary materially from these expressed or implied within the forward-looking statements, a lot of that are usually exterior the management of Mullen and are troublesome to foretell. Examples of such dangers and uncertainties embody however usually are not restricted to: (i) the timing of the graduation of the set up and testing of the Vitality Administration Module (“EMM”) items and whether or not the set up of the EMM items on the D.C. metropolis authorities’s Chevrolet Bolt automobile fleet shall be efficiently applied; whether or not the contract awarded by the District of Columbia, Washington, D.C., to EV Applied sciences, LLC shall be assigned to MAEO as contemplated by the settlement between Mullen and EV Applied sciences; whether or not the phrases of town authorities contract shall be honored by the contracting events; whether or not the pilot program with the District of Columbia, Washington, D.C., shall be profitable or lead to extra orders or contracts; whether or not some other buy orders or agreements for the EMM expertise will materialize; whether or not the check outcomes, which point out that making use of Vitality Administration Module (“EMM”) expertise to {an electrical} automobile considerably will increase automobile vary, are correct; whether or not the outcomes achieved from the preliminary testing by Component and Mullen are sustainable, scalable, or will produce the anticipated outcomes when deployed within the metropolis authorities’s fleet of Chevrolet Bolts, the Firm’s or different autos; whether or not any anticipated automobile vary will increase could be achieved at a low price; whether or not the Firm’s just lately acquired three way partnership expertise will vastly enhance present EV efficiency by growing EV automobile vary or in any other case; whether or not the projected enhance in vary and mileage are correct or achievable; whether or not the EMM product shall be efficiently accomplished or built-in into town authorities’s fleet of Chevrolet Bolts or some other autos; and whether or not the EEM product and related expertise will show helpful; (ii) whether or not the business product launches contemplated for 2023 will materialize inside the slated timelines; (iii) Mullen’s means (or lack of ability) to acquire extra financing in ample quantities or on acceptable phrases when wanted; (iv) Mullen’s means to take care of present, and safe extra, contracts with producers, elements and different service suppliers referring to its enterprise; (v) Mullen’s means to efficiently broaden in present markets and enter new markets; (vi) Mullen’s means to efficiently handle and combine any acquisitions of companies, options or applied sciences; (vii) unanticipated working prices, transaction prices and precise or contingent liabilities; (viii) the power to draw and retain certified staff and key personnel; (ix) opposed results of elevated competitors on Mullen’s enterprise; (x) adjustments in authorities licensing and regulation that will adversely have an effect on Mullen’s enterprise; (xi) the danger that adjustments in client conduct may adversely have an effect on Mullen’s enterprise; (xii) Mullen’s means to guard its mental property; and (xiii) native, business and normal enterprise and financial circumstances. Further components that would trigger precise outcomes to vary materially from these expressed or implied within the forward-looking statements could be present in the latest annual report on Kind 10-Okay, quarterly studies on Kind 10-Q and present studies on Kind 8-Okay filed by Mullen with the Securities and Change Fee. Mullen anticipates that subsequent occasions and developments could trigger its plans, intentions and expectations to vary. Mullen assumes no obligation, and it particularly disclaims any intention or obligation, to replace any forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as expressly required by legislation. Ahead-looking statements converse solely as of the date they’re made and shouldn’t be relied upon as representing Mullen’s plans and expectations as of any subsequent date.
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
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Los Angeles, California
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310.299.1717 Workplace
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