Polymer Battery Pack Testing
Mullen Automotive Inc. announced the Company began Class 1 EV cargo van road testing with the integrated solid-state polymer battery pack. Vehicle road testing began on Feb. 26, 2024, at Mullen’s Commercial Tech Center in Troy, Michigan. Video of Class 1 EV cargo van integrated with solid-state polymer battery pack testing can be viewed on MullenUSA.com.
Mullen’s latest phase of solid-state polymer battery testing began in January with installation of the battery pack into the Class 1 EV cargo van for testing of system compatibility between the vehicle and pack. Recent performance testing has included on-road drive cycles as well as Dyno testing at an EPA certified lab located in Northville, Michigan.
Due to higher energy density of the solid-state battery, the total pack energy increased from 42 kWh to 72 kWh. The initial test results met or exceeded all requirements targeted for first drive cycles for energy usage and the driving range. It was estimated that the range would be increased from 110 miles to 190 miles and the first real-world tests exceeded those projections.
“The first road test has resulted in significant gains in vehicle range. Additional testing over time will solidify a solid-state solution for our commercial vehicles. Next steps include finalizing our design and manufacturing validation,” said David Michery, CEO and chairman of Mullen Automotive.
Positive Gross Margins
The Company has achieved positive gross margin per vehicles invoiced, which is an important highlight considering majority of EV companies have launched EVs with significant losses to date.
“Strategically, in 2022 we understood EV adoption in the commercial sector would occur faster and doubled down on our acquisition efforts with both the majority acquisition of Bollinger Motors and the purchase of Electric Last Mile Solutions assets, which included full ownership of a large automotive manufacturing facility in Mishawaka, Indiana,” said David Michery, CEO and chairman of Mullen Automotive.
“These acquisitions allowed us to scale faster, which is best demonstrated by the launch of commercial vehicle production and customer deliveries in 2023. Mullen’s effort will be matched when Bollinger begins Class 4 production launch, which is planned later in 2024. Our effort on the commercial segment is laser focused and the opportunity has never been better with increased demand seen across all our commercial vehicle offerings.
“Along with production, we have remained steadfastly focused on continuous improvement and R&D as seen in the addition of our battery facility in Fullerton, California, to produce our own packs. The focus on batteries is ever more important for the sector from a range and supply chain perspective. We believe harnessing AI and applying it to our battery management systems can hold additional promise for our vehicles in the commercial sectors.”
Mullen began Class 3 vehicle production in August 2023 and first vehicle deliveries in September 2023. Mullen Class 1 production began in November 2023 with first vehicle deliveries in December 2023.
The all-electric Mullen ONE Class 1 EV cargo van and Mullen THREE Class 3 low cab forward EV truck are both purpose-built to meet the demands of urban last-mile delivery and vocational services. Both the Class 1 and Class 3 commercial vehicles are in receipt of Environmental Protection Agency (“EPA”) and CARB certifications and can be sold in every state throughout the U.S.
CBP Ruling Coming in 2 Months
Mullen announced an update on the U.S. Customs and Border Protection (“CBP”) application for Class 1 EV cargo vans. On Feb. 20, 2024, CBP informed counsel that a final determination on the ruling request is now expected within one to two months.
- CBP ruling requests are typically processed on a first-in, first-out basis
- CBP ruling requests are typically decided between 45 to 90 days, but may exceed this aspirational timeframe depending on the agency’s caseload
On Nov. 24, 2023, Mullen and Rapid Response Defense Systems (“RRDS”) filed responses for final ruling and compliance by the U.S. Customs and Border Protection (“CBP”) application for Mullen’s Class 1 EV cargo van. If Mullen receives a favorable final ruling, the Company will be immediately eligible to sell Class 1 EV cargo vans to all branches of U.S. government.