Mullen Automotive EV Program Update

Mullen updates shareholders on key efforts for Mullen FIVE and Mullen EV Cargo Van Programs

BREA, Calif. – Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, announces today an update for Mullen Shareholders on the Mullen FIVE EV Crossover Program and the Mullen EV Cargo Van Program.

“I am excited to share updates about our vehicle programs for our valued shareholders.  The Mullen team has been working diligently on key initiatives both here in Southern California and outside Tunica, Mississippi, at our AMEC manufacturing facility for both our FIVE EV Crossover and EV Cargo Van programs,” said David Michery, CEO and chairman of Mullen Automotive.

Mullen FIVE Program

The Mullen engineering team, along with our supplier partners, are making good progress to complete the first fully functional vehicles for both the Mullen FIVE Launch edition and Mullen FIVE RS, high-performance edition.  Current work includes battery adaption, involving the cooling system and underbody protection.  The body-in-white (BIW) team is focusing on vehicle frame structural reinforcements and material selection.

The time frame for the first fully functional and drivable vehicles, including the FIVE RS, is currently on track for Q3 2022.  Mullen is planning for media and consumer events in late summer and early fall, where existing Mullen FIVE reservation holders and invited media will get to fully experience the vehicle, including test driving the FIVE in person.

Mullen EV Cargo Van Program

The Mullen EV Cargo Van program continues making solid progress at Mullen’s Advanced Manufacturing and Engineering Center (AMEC), located outside Tunica, Mississippi, with completion of the cargo van assembly process.  Despite the global issues with Covid and shipping delays, the company is on track to deliver first units to fleet order customers in Q2 2022. 

Mullen’s Class 1 EV cargo van (CarGO®) is based on a 120-inch wheelbase, 40-kilowatt-hour (kWh) battery pack, rear-wheel drive and modular 210 cubic feet cargo area. Vehicle range is estimated at 160 miles with a max payload of 2,249 pounds.  Mullen’s Class 2 EV van (ONE®) is based on a 144-inch wheelbase, 78.8-kWh battery pack, rear-wheel drive and modular 460 cubic feet cargo area. Vehicle range is estimated at over 200 miles with a max payload of 3,296 pounds. 

Mullen also recently announced a string of key partnerships with ARRK, Dürr and DSA Systems for automotive engineering, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics, respectively. The Company expects these strategic developments to play a crucial role in bringing the FIVE to market with the latest technology and in the least amount of time. The Mullen FIVE was also recently selected as the Top SUV as part of the ZEVA® Awards at the Los Angeles International Auto Show in November 2021.

The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is “Strikingly DifferentTM” and exciting to experience in person. 

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