What’s Happening: Mullen Automotive, an emerging electric vehicle (EV) manufacturer, announced that it has secured the intellectual property and distribution rights for North and South America from Qiantu Motors and affiliated companies. The license agreement permits Mullen to assemble and distribute the DragonFLY K50, an EV supercar, in the Americas.
Why It Matters: The agreement marks a significant milestone for Mullen Automotive, allowing the company to expand its product offerings and compete in the growing EV supercar market. It also resolves a long-standing dispute between Mullen and Qiantu Motors, paving the way for collaboration between the two companies.
Key Points:
- The DragonFLY K50 features a striking design with carbon fiber construction, contributing to its dramatic and timeless appearance.
- Mullen plans to re-engineer and re-design the DragonFLY K50 to meet U.S. certification requirements and customer expectations for modern supercars.
- The redesigned vehicle will align with Mullen’s design language, as seen in the Mullen FIVE and Mullen FIVE RS.
- The DragonFLY K50 will also have an updated powertrain, targeting sub 2.0 sec 0-60 MPH and a top speed exceeding 200 MPH.
- Qiantu Motors, in operation since 2013, is confident that the K50 will appeal to U.S. customers and offer a superior driving experience.
- Mullen CEO and Chairman David Michery expressed excitement about starting the GT and GTRS programs on March 20, 2023, fulfilling his vision for a supercar rivaling the best in the world.
Bottom Line: Mullen Automotive’s acquisition of the IP and distribution rights for the DragonFLY K50 in the Americas signals an important step forward for the company. This move enables Mullen to broaden its EV portfolio and potentially capture a larger market share in the competitive EV supercar segment. With the backing of Qiantu Motors, Mullen aims to offer customers a unique and high-performing EV that stands out in the U.S. market.
