Mullen to Retrofit Facility for EV Battery Pack Production
2022.04.18 14:46
Mullen (MULN) to Retrofit Facility for EV Battery Pack Production
Electric vehicle manufacturer, Mullen Automotive (NASDAQ:MULN), announced today that the company plans to begin EV battery pack production out of its high voltage battery R&D facility located in Monrovia, California. The company plans to retrofit the facility to accommodate production.
“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,” says 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.”
Previously, CODA Automotive utilized the Monrovia facility (CODA Energy) for battery pack research, development, and production of its U.S. homologated EV sedan, which was sold in the U.S. from 2012-18. Mullen purchased the assets from CODA in 2014 and took over the Monrovia high voltage facility in 2017, renaming it Mullen Energy.
By taking battery pack production in-house, Mullen aims to lower costs and increase overall quality control in battery pack development.
By Michael Elkins
