NetworkNewsBreaks – Mullen Automotive Inc. (NASD
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Posted On: 01/08/2024 3:24:19 PM
NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Submits Concept Paper to DOE for Domestic Battery Materials Processing
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that its subsidiary Mullen Advanced Energy, LLC submitted a Concept Paper in response to the U.S. Department of Energy (“DOE”) Funding Opportunity for Battery Materials. Established on Nov. 13, 2023, via the current administration, the program announces up to $3.5 billion from the Bipartisan Infrastructure Law to boost domestic production of advanced batteries and battery materials nationwide. Mullen’s submission details its plan to produce approximately 150,000 battery packs domestically through calendar year 2032 to support Mullen’s EVs, currently assembled in the U.S. at the Company’s Tunica, Mississippi-based plant. The Concept Paper is the first step before the company submits its formalized application for the DOE funding opportunity, expected to take place on or before March 19, 2024. “We are all in on supporting battery manufacturing here in the U.S., starting right here in our own high-energy facility in Fullerton, California,” said David Michery, CEO and chairman of Mullen Automotive.
Please see full terms of use and 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, today announced that its subsidiary Mullen Advanced Energy, LLC submitted a Concept Paper in response to the U.S. Department of Energy (“DOE”) Funding Opportunity for Battery Materials. Established on Nov. 13, 2023, via the current administration, the program announces up to $3.5 billion from the Bipartisan Infrastructure Law to boost domestic production of advanced batteries and battery materials nationwide. Mullen’s submission details its plan to produce approximately 150,000 battery packs domestically through calendar year 2032 to support Mullen’s EVs, currently assembled in the U.S. at the Company’s Tunica, Mississippi-based plant. The Concept Paper is the first step before the company submits its formalized application for the DOE funding opportunity, expected to take place on or before March 19, 2024. “We are all in on supporting battery manufacturing here in the U.S., starting right here in our own high-energy facility in Fullerton, California,” said David Michery, CEO and chairman of Mullen Automotive.
Please see full terms of use and 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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