NetworkNewsBreaks – Mullen Automotive Inc. (NASD
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Posted On: 04/18/2022 3:43:50 PM
NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) to Take EV Battery Pack Production In-House in Monrovia, California
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has announced plans to begin EV battery pack production out of its high voltage battery R&D facility located in Monrovia, California. In an effort to reduce dependency on third-party suppliers and reduce the risk associated with material and supply shortages, Mullen is retrofitting its Monrovia facility to accommodate the production of EV battery packs destined for the company’s EV vehicle lineup, including the ONE EV Cargo Van, FIVE EV Crossover and DragonFLY EV Sportscar programs. By taking production in-house, Mullen will also lower costs and increase overall quality control in battery pack development. “Building our own battery packs makes sense as it reduces our reliance on third-party suppliers and lessens our risk of being subjected to the waves of supply and critical component shortages,” said David Michery, CEO and chairman of Mullen Automotive. “The entire industry is struggling with supply chain issues and the more control we have in-house, the better off our vehicle programs will be. Our Monrovia facility is already established for high voltage applications so retrofitting it for our battery pack development makes good sense for our company and shareholders.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has announced plans to begin EV battery pack production out of its high voltage battery R&D facility located in Monrovia, California. In an effort to reduce dependency on third-party suppliers and reduce the risk associated with material and supply shortages, Mullen is retrofitting its Monrovia facility to accommodate the production of EV battery packs destined for the company’s EV vehicle lineup, including the ONE EV Cargo Van, FIVE EV Crossover and DragonFLY EV Sportscar programs. By taking production in-house, Mullen will also lower costs and increase overall quality control in battery pack development. “Building our own battery packs makes sense as it reduces our reliance on third-party suppliers and lessens our risk of being subjected to the waves of supply and critical component shortages,” said David Michery, CEO and chairman of Mullen Automotive. “The entire industry is struggling with supply chain issues and the more control we have in-house, the better off our vehicle programs will be. Our Monrovia facility is already established for high voltage applications so retrofitting it for our battery pack development makes good sense for our company and shareholders.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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