Mullen Expands U.S. Battery Operations, Moves To Solid-State Polymer Pack Testing As EV Business Scales
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive Inc. (NASDAQ:MULN) has announced the expansion of its U.S. battery operations with a new high-energy facility in Fullerton, California, dedicated to producing next-generation American-made EV battery packs. The company is consolidating its Monrovia facility with the recently acquired Romeo Power assets into this new location. Mullen will start solid-state polymer (SSP) battery BMS calibration for Class 1 EV cargo vans in December 2023 and begin testing solid-state battery packs in Q1 2024. The new SSP technology is expected to increase the range of Mullen's Class 1 EV cargo van from 110 miles to over 190 miles, a 73% increase, making it class-leading in range.
November 13, 2023 | 2:20 pm
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Mullen Automotive is expanding its battery production capabilities and moving towards solid-state battery technology, which is expected to significantly increase the range of its EV cargo vans.
The expansion into a new facility and the development of solid-state battery technology are significant steps for Mullen Automotive. The expected increase in vehicle range and the alignment with the Inflation Reduction Act incentives could positively influence investor sentiment and customer interest, potentially leading to a short-term increase in MULN's stock price.
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