Mullen Completes Purchase of Additional Nikola Battery Assets for US Battery Production
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Upon installation of new assets which were recently delivered on Jan. 27, 2025, the Company’s Fullerton facility will have the following battery production lines and testing capabilities:• Two high-volume standard battery chemistry lines.• High-precision, low-volume standard battery chemistry R&D line.• High-precision, low-volume solid-state polymer R&D line.• Full battery testing laboratory for current and future battery projects.Company plans to begin start of production second half of 2025BREA, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today the Company continues to further its U.S. battery production capabilities with the additional purchase of battery line equipment from Nikola Corporation (“Nikola”) for its Fullerton, California, battery operations. The Fullerton facility is dedicated to producing next-generation, American-made battery packs, modules and advanced solid-state polymers, which are critical components to the Company’s commitment to zero emissions and to reducing reliance on key battery components imported from foreign countries. Recently purchased Nikola assets include:• A high-volume standard battery chemistry production line. • Electro-dynamic shaker system (vibration table) to be utilized for in-house laboratory testing of battery and overall system components.Upon installation of the newly purchased equipment, Mullen will have the following battery production lines and testing capabilities in Fullerton: • Two high-volume standard battery chemistry lines. • High-precision, low-volume standard battery chemistry R&D line.• High-precision, low-volume solid-state polymer R&D line.• Full battery testing laboratory for current and future battery projects.Mullen is focused on increasing U.S. manufacturing capabilities in response to demand for American-made battery components and systems. The Company plan is to produce its own commercial vehicle battery packs while also opening other industry applications and commercial sales opportunities.“We continue to execute our plan of transitioning to American-made battery components and we are doing it right here in Southern California,” said David Michery, CEO and chairman of Mullen Automotive. In September 2023, Mullen announced the initial purchase of battery production assets from Romeo Power, a subsidiary of Nikola Corporation, for approximately $3.5 million. The deal included equipment, inventory and intellectual property for high-volume EV battery pack and module production. On Dec. 17, 2024, Mullen Automotive submitted a modified plan to the U.S. Department of Energy (“DOE”) that incorporates its facilities in Mishawaka, Indiana, and Fullerton, California, for U.S.-based battery and pack production. In total, Mullen is seeking $55 million in matching DOE funds to support the U.S. manufacturing capabilities.About MullenMullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (“CARB”) and EPA certified and available for sale in the U.S. The Company has also expanded its commercial dealer network to seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets.On Sept. 7, 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has passed numerous milestones including its production launch on Sept. 16, 2024, CARB certification, FMVSS compliance, receiving the Certificate of Conformity from the Environmental Protection Agency, providing full warranty coverage of the B4 chassis cab, and the development of a world-class dealer and service network with over 50 locations across the United States.
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