Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has successfully concluded a 60-day commercial EV pilot program with Menzies Aviation and Loop Global Inc. at the Los Angeles International Airport (“LAX”). Menzies currently operates in 250-plus airports in 58 countries to provide ground, air cargo and fuel services to commercial airports and airlines. During the pilot program, Menzies used two class 1 EV vans at the airport to transport both equipment and personnel, powering the vehicles with Loop-installed level 2 chargers. The vans drove more than 1,500 miles during the program, with a reported 100% uptime and zero maintenance issues. According to the announcement, the vans resulted in an estimated cost savings of 66% in electrical versus gas-equivalent vehicles with an estimated 83% reduction in CO2 emissions compared to gas-vehicle equivalent vehicles. Following the program, Menzies has requested some van modifications, such as increased seating capacity and additional windows, with MULN anticipating that vehicles with these enhancements will be used to expand the Menzies fleet around the world. “The LAX pilot was very important in quantifying the efficiency, uptime and cost savings that can be achieved with our class 1 EV vans,” said Mullen Automotive CEO and chair David Michery in the press release. “Successful pilots such as this demonstrate how companies can scale their fleet operations with commercial EV offerings from Mullen.”
Mullen also announced that it is accelerating the integration of solid-state polymer battery technology into its commercial class 1 EV cargo van program. According to the company, the integration will result in an increase in range from 110 miles to more than 200 miles on a single charge; the company noted that the first cargo van test vehicles equipped with the solid-state polymer technology will be ready for testing by Q4 2023. The current cargo van features a 46-killowatt lithium-ion battery pack. “The Linghang Guochuang Holding Group Co. Ltd. partnership with Mullen brings next-generation LH solid-state battery technology to the forefront of vehicle production,” said Linghang Guochuang Holding Group general manager, new energy power business department, Yao Wang in the press release. “Our partnership accelerates the world’s use of solid-state polymer battery technology, not only on the vehicle level but at all levels. We are pleased to be the first company in the U.S. to implement LH solid-state polymer battery technology in a commercial vehicle in conjunction with Mullen Automotive.”
To view the full press releases, visit https://ibn.fm/tYGlW and https://ibn.fm/NEi6p
About Mullen Automotive Inc.
Mullen Automotive 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 I-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 all 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.
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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