Written by Cláudio Afonso | info@claudio-afonso.com
Mullen’s CEO, David Michery, was on the 199th episode of Risk On Podcast on Wednesday. Michery talked about Mullen’s origins, the design options to increase the performance, the battery tech updates. Also Mullen’s loan status and the acceptance of Bitcoin as a payment were among the themes. Mullen’s CEO also mentioned the importance of Elon Musk for the EV sector: “Every EV in the space, no one would be here today if it wasn’t for Tesla and Elon Musk.” As of 12:41 EST, Mullen ($MULN) shares are trading 40.55% higher, at $2.45 being the most traded stock with 295M of volume.
Mullen’s originis
“To be honest with you I was looking to starting an Airline or an EV company. Well, I like things that move: fly very very fast or move very very fast on the ground. I had a great opportunity to acquire an existing Hybrid company that was deveoping Evs. A company called Mullen Auto, owned by a retired military officer named Arthur Allen. Him and his son built a pretty nice company, they put out a couple of really sexy vehicles.” (in the ’90s) — CEO said referring to the origin of the company.
“I like to believe that we’re at the forefront of electrifying America.Every design detail is well thought out to increase performance. The tires and breaks for example are chosen lessen the weight and help you stop on a dime.” When asked about Bitcoin as a payment, Mullen’s CEO said: “Haven’t even explored that right now. We’re focused on doing what we promised and deliver vehicles.”
Battery Tech
Battery tech – polymer solid state battery in the works. No dangerous metals, or dangerous goods when you dispose of them. Non flammable, safer. More reliable, safe, half the space, half the cost, and double the efficiency. Their focus is longevity, reliability, safety.
Mullen’s Loan Status:
- Filed Jan. 8, 2020
- Amend in April to reflect the tunica facility and the SUV
- Next is a substantially complete position where the DOE will go out and do roadshows.
- By Q4 of this year they’ll be at conditional commitment which is funding by the US treasury.
Recently, CarBuzz, world’s premier car-related news site and app with over 9 million monthly visits, highlighted Mullen’s FIVE Model saying that the model is luxury crossover in the fullest sense of the word luxury. The publication says that “the California-based company will be joining Tesla, Rivian, and Lucid as real American competition to legacy automakers as the EV market grows.” CarBuzz also enhanced that the model is “designed and engineered in the U.S. and set to be built here in the U.S. as well”.
During the last days, Mullen Automotive posted 12 new job vacancies on Indeed, the worldwide employment website. From the jobs posted, the company seeks for a Homolation Engineer that must “understand full regulatory requirements for North America, Europe and other regions per potential target markets”. The company is now also looking for a Director of Advanced Drive Assist Systems (ADAS), a Plant Buyer, two Lead Packaging Engineers, a Director of Purchasing, a Director of Vehicle Integration, a Director of Vehicle Network Architecture, a Production Supervisor, a Training Coordinator, a Environmental Health and Safety Manager and a Warehouse Manager. Check the fully detailed job vacancy here and all the jobs available for the company here.
On March 10th, EV posted an exclusive article reporting that Acuitas Group Holding had bought 18 Million shares of Mullen Automotive, reaching a 10% ownership on the EV maker. At the time, Mullen shares were trading at .99$ but quickly skyrocketed to positive territory having reached $1.45. The stock closed the session at $1.35, up 26.17% on the day and was the second most traded on the last session with 251.51M shares traded.
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.
Written by Cláudio Afonso | info@claudio-afonso.com