Written by Cláudio Afonso | info@claudio-afonso.com
According to the SC 13G/A form with the SEC on March 10th, Peizer Terren S (Founder and CEO of Acuitas Group Holding) added 18 Million Mullen Automotive shares, increasing its ownership up to 9.99%. On the previous filing from January 25th, Peizer Terren S had reported owning 11,363,838 shares, indicating an increase of 158.40%. Check SEC’s filing here.
Acuitas Group Holdings is a personal holding company for portfolio companies, public company investments, private equity investments, and venture capital. Also Esousa Holdings LLC filed a SEC form on March 10th disclosing 9.99% ownership on the EV maker after buying 19,827,486 shares.
As of 11:50 EST, Mullen shares are trading 7.58% lower around $0.99. The stock is down 81% Year to date but up 26% on the last 5 days being among the most traded stocks by Investors during the last 2 weeks.
The company announced recently an update on Mullen’s next-generation solid-state polymer battery technology, which is a significant advancement over today’s current lithium-Ion batteries. The testing of solid-state polymer cells reveals the potential for a 150-kilowatt-hour battery pack that delivers over 600-plus miles of range and highlights an 18-minute DC fast charge which can yield over 300 miles of range.
We’ve conducted successful testing and will begin pack level development next. The test data collected shows an impressive outcome and future for solid-state batteries.
David Michery, chairman and CEO of Mullen
Mullen is working towards utilizing solid-state polymer battery packs in its second generation Mullen FIVE EV Crossovers, with in-vehicle prototype testing set for 2025. Mullen’s first-generation FIVE EV Crossover, due in late 2024, is planned to launch with traditional lithium-ion cell chemistry. Mullen is also conducting extensive research and development into other advanced battery technologies, including lithium-sulfur and lithium-iron-phosphate. Mullen’s ultimate goal is to deliver EV batteries that will surpass today’s existing lithium-Ion technology and offer a host of benefits such as increased efficiency, energy density, and range while also lowering the cost, weight, thermal and environmental risks.
The company recently published feature by WardsAutoTM that highlights Mullen’s vision for the future and interviews with the Company’s senior leadership. Wards, an industry-leading, automotive-centric publication and global leader in automotive intelligence, has been offering insights and intelligence on the global automotive industry for nearly a century. The WardsAutoTM article featured interviews with Mullen CEO and Chairman David Michery, Vice President-Mechanical Systems Marian Patriclan, and Vice President-Marketing Jason Putnam. The full WardsAutoTM article is available to read here.
“I am delighted and thankful that industry leaders like Wards are starting to take an interest in covering the great EV effort we’re accomplishing here at Mullen,” said David Michery, CEO and chairman of Mullen Automotive. “We had a great conversation with Christie, talking about the big plans we have for the FIVE EV crossover as well as our innovative hybrid retail model with our Mullen Lounge Points, direct and franchise sales, and service model.”
Mullen has recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Dürr, and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics, respectively. The Company expects these strategic developments to play a crucial role in bringing the FIVE to market with the latest technology and in the shortest amount of time. Mullen FIVE was also named “Top Zero Emission SUV” as part of the ZEVA® Awards at the Los Angeles International Auto Show in November 2021, where the vehicle made its debut.
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.
Written by Cláudio Afonso | info@claudio-afonso.com