Mullen CEO says the company is in talks with major OEMs to use their battery technology

Written by Cláudio Afonso | | LinkedIn | Twitter

Mullen CEO David Michery was featured on Friday’s episode of Benzinga’s All Access Series to give additional information on the battery testing results and the upcoming plans for the company. After being interviewed on Risk On Live podcast earlier in the week, Michery unveiled on Friday that the company “started negotiations with a couple of major OEMs” regarding Mullen’s battery technology. (Full Transcript of the Interview available here)

“I do wanna add one thing but I think is…very important about things that happened recently because of our amazing test results on the battery. Earlier this week, we started negotiations with a couple of major OEMs regarding our battery technology and we commenced preliminary discussions with these parties, so… I thought this was a good piece of information that we could share”, Michery said.

When asked about the timeline of OEMs’ sales cycles, Mullen‘s CEO answered “I’ve been working hard on this and along with the major transaction that is happening at the same time… there’s so much stuff going on”.

“A lot of good stuff happening, more so than ever in the history of this company and I think you’re looking at a… (…) we came out a small market cap, people kind of ignored us, we systematically have progressed forward and in a short window, we’re now larger than some of the guys that had a market cap of $2-3b range and now these guys are down in a $300-400 million range. Look at us!,” he concluded.

On Tuesday, Mullen Automotive shares rose 44.90% after revealing the solid-state polymer battery test results.

Vanguard Total Stock Market Index Fund filed on Tuesday a NPORT-P form disclosing ownership of 958,351 shares of Mullen Automotive by the end of the first quarter. The fund had closed 2021 owning 117,454 shares (as filed on March 1st) which represents an increase of 715,94 percent quarter over quarter.

Written by Cláudio Afonso | | LinkedIn | Twitter