Mullen Automotive Issues Letter to Shareholders

Mullen Technologies, Inc.

Mullen Systems, Inc.

Organization on observe to meet 2022 operational goals and milestones. Mullen anticipates delivery of the initial EV cargo van fleet vehicles in Q2 2022. The Business is unaware of any business enterprise motive for the recent drop of the Mullen inventory (MULN) rate.

Mullen Provides Update to Shareholders

Mullen summarizes and highlights recent accomplishments. Company on track to achieve 2022 goals.

Mullen summarizes and highlights recent accomplishments. Company on monitor to obtain 2022 ambitions.

BREA, Calif., Feb. 17, 2022 (World NEWSWIRE) — by way of InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an rising electric powered car (“EV”) producer, announces recent highlights and accomplishments for the Business, Mullen 5 and EV Van Crossover Plans.

“Mullen has built strong progress considering that likely public on Nov. 5, 2021. Down below are the summarized highlights and achievements,” said David Michery, CEO and chairman of Mullen Automotive.

Modern Highlights and Achievements

  • Mullen is on keep track of to deliver the first EV cargo van fleet vehicles in Q2.

  • Large-efficiency variations of the Mullen Five are due to arrive in late summer months 2022. Countrywide examination generate function for Mullen “Front Row” reservation holders to be announced on long term day.

  • Mullen has productively filed around 120 patents in 24 nations for the Mullen Five EV Crossover.

  • Mullen’s buy of Tunica’s AMEC producing facility. Organization owns this facility free and crystal clear, with no related financial debt or financial obligations on the house.

  • Planet debut of the Mullen Five on Nov. 17, 2021, at the Los Angeles Intercontinental Auto Exhibit.

  • Mullen Five won the best SUV ZEVAS™ (Zero Emission Motor vehicle) Award at the 2021 Los Angeles Intercontinental Auto Display, besting equally Lincoln and Rivian for the top honor.

  • Recently acquired media protection of Mullen in in excess of 40 publications, like Automotive News, Wards Auto, Bloomberg, Barron’s, InsideEVs, Robb Report, HotCars and Carbuzz.

  • Profitable completion of substantial client EV market place research revealing Mullen Five scored significant from Tesla Model Y and Ford Mach-E.

Further more facts on these highlights and achievements can be located beneath the information section of Mullen’s website.

Mullen has a short while ago declared a string of crucial partnerships with hofer powertrain, Comau, ARRK, Dürr, and DSA Techniques for EV powertrain, engineering, manufacturing, car manufacturing programs, and Over the Air (OTA) and auto procedure diagnostics respectively. The Corporation expects these strategic developments to play a critical part in bringing the Five to marketplace with the most recent technologies and least volume of time. Mullen Five was also named “Prime Zero Emission SUV” by the ZEVA® Awards at the Los Angeles Intercontinental Show in November 2021, exactly where it manufactured its debut.

The 5 is crafted on an EV crossover skateboard system that presents various powertrain configurations and trim amounts in a svelte style that is “Strikingly Different™ and remarkable to expertise in particular person. Find out more about the Mullen 5 at MullenUSA.com.

About Mullen
Mullen is a Southern California-centered automotive company that owns and associates with many synergistic firms doing work towards the unified aim of building clear and scalable vitality solutions. Mullen has progressed more than the earlier ten years in sync with individuals and technology tendencies. Right now, the Organization is doing work diligently to offer exciting EV options created totally in the United States and created to fit flawlessly into the American consumer’s life. Mullen strives to make EVs extra available than ever by creating an stop-to-conclusion ecosystem that takes care of all facets of EV ownership.

Ahead-On the lookout Statements
Specified statements in this push release that are not historic facts are forward-on the lookout statements in the meaning of Segment 27A of the Securities Trade Act of 1934, as amended. Any statements contained in this push release that are not statements of historical actuality may well be considered ahead-searching statements. Phrases this kind of as “proceed,” “will,” “might,” “could,” “need to,” “be expecting,” “predicted,” “programs,” “intend,” “foresee,” “consider,” “estimate,” “predict,” “prospective,” and equivalent expressions are intended to detect these types of ahead-searching statements. All forward-seeking statements entail substantial pitfalls and uncertainties that could bring about actual benefits to differ materially from those expressed or implied in the forward-hunting statements, numerous of which are usually exterior the management of Mullen and are hard to predict. Examples of these kinds of dangers and uncertainties incorporate but are not constrained to no matter if the Organization will accomplish its aims of launching its EV crossover, the Five in expected timelines and if so, if the 5 will be a results and whether the Company’s partnerships with ARRK, Dürr, and DSA Devices and Over the Air (OTA) will final result in expediting the rollout of the 5. More examples of this kind of hazards and uncertainties consist of, but are not minimal to (i) Mullen’s capability (or incapability) to attain extra financing in enough amounts or on appropriate conditions when essential (ii) Mullen’s capability to sustain present, and safe additional, contracts with makers, areas and other company providers relating to its company (iii) Mullen’s skill to productively broaden in present marketplaces and enter new marketplaces (iv) Mullen’s potential to successfully manage and integrate any acquisitions of businesses, solutions or technologies (v) unanticipated working expenditures, transaction expenses and real or contingent liabilities (vi) the potential to bring in and keep experienced workers and crucial personnel (vii) adverse results of increased opposition on Mullen’s enterprise (viii) modifications in authorities licensing and regulation that may possibly adversely influence Mullen’s business (ix) the danger that variations in shopper habits could adversely impact Mullen’s enterprise and (x) Mullen’s skill to guard its intellectual property (xi) community, industry and standard business and financial conditions. Further elements that could trigger actual outcomes to vary materially from these expressed or implied in the ahead-hunting statements can be uncovered in the most new annual report on Kind 10-K, quarterly reviews on Variety 10-Q and recent studies on Type 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent functions and developments could lead to its options, intentions and anticipations to modify. Mullen assumes no obligation, and it particularly disclaims any intention or obligation, to update any forward-on the lookout statements, regardless of whether as a final result of new information, upcoming events or if not, other than as expressly needed by legislation. Forward-searching statements speak only as of the date they are built and really should not be relied upon as symbolizing Mullen’s designs and anticipations as of any subsequent date.

Speak to:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

Wire Service Call:
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Workplace
[email protected]

A image accompanying this announcement is readily available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5cb18971-0d4f-417f-b70f-40b6e89d72b4