TechMediaBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Announces Strategic Acquisition of Romeo Power Assets

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced its purchase of battery pack production assets from Romeo Power for approximately $3.5 million. According to the announcement, the deal includes equipment, inventory and intellectual property for high volume EV battery pack and module production. The assets include production lines for EV pack assembly and precision R&D module and pack development with associated inventory allowing for production of modules and vehicle battery packs. In addition, the purchased assets include battery testing and validation equipment, computer numerical control (“CNC”) equipment for battery pack and module enclosure production. “Purchasing the Romeo assets is consistent with our battery pack production path and previous announcements for our high voltage facility in Monrovia,” said David Michery, CEO and chairman of Mullen Automotive. “Overall, this purchase further enhances our capabilities for battery pack production right here in California and the U.S.”

To view the full press release, visit https://ibn.fm/IxPyI

About Mullen Automotive Inc.

Mullen is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. For more information about the company, visit www.MullenUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

About TechMediaWire

TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TechMediaWire.com

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer

TechMediaWire
Los Angeles, CA
www.TechMediaWire.com
310.299.1717 Office
Editor@TechMediaWire.com

TechMediaWire is powered by IBN