MULN Stock Alert: Mullen to Begin Testing New Battery Technology in Q4 2023


  • Mullen Automotive (MULN) will begin testing its solid-state battery in its Class 1 electric vehicle (EV) cargo van during the fourth quarter.
  • The battery is expected to provide a single charge range of over 200 miles.
  • MULN stock is down more than 65% year-to-date (YTD).
The Mullen (MULN) Five vehicle is displayed at the 2021 LA Auto Show media day in Los Angeles, November, 18, 2021. MULN stock.
Source: Ringo Chiu / Shutterstock

News of Mullen Automotive’s (NASDAQ:MULN) Class 1 electric vehicle (EV) cargo van continues to roll in. Most recently, investors received another update this morning. The company announced that it would “accelerate implementation” of solid-state polymer battery technology into its cargo van. This will improve the van’s range on a single charge from 110 miles to an estimated range of over 200 miles.

Testing of vans outfitted with the battery will begin on U.S. roads by the fourth quarter of 2o23 in collaboration with Linghang Guochuang Holding Group. Linghang operates as an advanced battery company with a focus on performance and sustainability.

“Our partnership accelerates the world’s use of solid-state polymer battery technology, not only on the vehicle level, but at all levels,” said Linghang General Manager Yao Wang, “We are pleased to be the first company in the U.S. to implement LH solid-state polymer battery technology in a commercial vehicle in conjunction with Mullen Automotive.”

MULN Stock: Mullen Announces Integration of Solid-State Battery Into Its Cargo Van

Currently, Mullen’s cargo vans carry a 46-kilowatt lithium-ion battery pack. The van’s new solid-state battery will improve mileage. It will also “offer higher energy density, faster charging time, smaller size, and better safety compared to traditional lithium-ion cells.”

Solid-state batteries do not utilize the liquid electrolyte solution found in lithium-ion batteries, reducing risk of a fire or explosion. Mullen did not immediately provide details on whether it would equip its other vehicles with the solid-state battery.

Based on the recent news flow, Mullen appears to be going all in on its cargo van. Last week, the company announced successful deliveries of a total of 11 vans to MGT Lease Company and the University of North Carolina (UNC) Charlotte through Randy Marion Automotive Group (RMA). Mullen added that it expects to complete additional deliveries to both parties.

Mullen also recently wrapped up its 60-day pilot program for its van with Menzies Aviation and Loop Global. During the program, two vans logged over 1,500 miles with no maintenance issues. Following completion of the program, Menzies requested several modifications, such as increased seating capacity and more window space.

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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

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