Mullen stock soars nearly 40% after battery testing results confirming a 600+ mile range

Written by Cláudio Afonso | | LinkedIn | Twitter

Mullen Automotive shares are trading 38.17% higher as of 11:21 ET after the opening bell following the announcement of its solid-state polymer battery testing results by Battery Innovation Center (BIC) in Indiana.

Mullen’s different solution for the battery technology is one of the biggest advantages when comparing to its rivals turning these results a key evidence for the potential of the company and its stock. After some weeks of uncertainty, investors and traders got back to the California-based EV maker stock turning it the most traded one with over 140 million of volume in the first two hours of the session. Imperial Petrole stock ($IMPP) is currently the second most traded stock with nearly 70 million of volume.

The results shown will allow Mullen to offer a150-kilowatt hour with 600+ miles range, after “performed exceptionally well” in the tests done by BIC in Indiana, CEO said. When scaled to the vehicle pack level, and at a 150-kilowatt hour equivalent, Mullen model(s) will be able to deliver over 600 miles of range on a full charge.

“I’m impressed with the ongoing performance of the solid-state cell after going thru multiple intense testing sessions from accredited testing facilities,” said David Michery, CEO and chairman of Mullen Automotive. “The battery has performed exceptionally well, and I’m pleased with the results from BIC in Indiana.”

Recently, the company announced the hiring of Richard Curtis, to President of International Operations for Mullen Automotive. Until now, Curtis served as the president of Imperium Motor Company (automotive subsidiary of DSG Global).

Also 14 new hires were recently announced across vehicle engineering, vehicle integration, powertrain systems and manufacturing in support of EV vehicle programs. “Every new team member is a vital hire”, Mullen‘s CEO said.

Written by Cláudio Afonso | | LinkedIn | Twitter