Mullen Automotive Files U.S. Department of Energy ATVM Loan Application for Mullen ONE EV Cargo Van Program

On April 29, 2022, Mullen submitted its ATVM loan application for the Mullen A person EV Cargo Van Method. Resources will be utilised to speed up substantial quantity EV Cargo Van manufacturing at Mullen’s manufacturing (AMEC) facility outside the house Tunica, Mississippi.

BREA, Calif., May possibly 02, 2022 (World NEWSWIRE) — by using InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electrical car (“EV”) producer, announces the submitting of its ATVM personal loan software for the Mullen A single EV Cargo Van Software with the U.S. Department of Vitality. The software was filed on April 29, 2022.

Mullen submitted its prequalification on April 25, 2022, and was invited by the Division of Vitality to formally submit its loan application on April 29, 2022. Mullen submitted the mortgage application on April 29 at approximately 1:55 p.m. Pacific time.

“We are very pleased to announce the submission of our ATVM financial loan application for the Mullen Just one EV Cargo van program,” mentioned David Michery, CEO and chairman of Mullen Automotive. “We started our ATVM financial loan journey in 2019, and the DOE has been pursuing our development because then. I want to thank the overall Mullen Automotive crew for working diligently on this submission. I also want to thank the DOE for their ongoing guidance of our initiative to put People again to operate. This is a massive milestone for us, with a lot of more to stick to.”

The Mullen 1 EV is a Class 1 mild professional cargo van rated beneath 6,000 lbs GVRW and will be 1 of the to start with electric powered business automobile offerings in this class. Sector leaders in the Course 1 mild business van group include things like the Ford Transit Connect and Ram Promaster Town Cargo Van. Find out more about Mullen’s EV Cargo Vans at Mullenusa.com.

The ATVM Mortgage System was authorized by the Strength Independence and Safety Act of 2007 to aid the production of eligible light-weight-obligation automobiles and qualifying parts in the United States. Due to the fact the commence of the plan, the Division of Electrical power has shut on additional than $8 billion in loans.

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About Mullen
Mullen is a Southern California-based mostly automotive corporation that owns and partners with numerous synergistic enterprises functioning toward the unified target of building clean up and scalable energy alternatives. Mullen has progressed about the earlier decade in sync with shoppers and technology trends. Nowadays, the Corporation is doing the job diligently to give fascinating EV choices crafted fully in the United States and produced to fit flawlessly into the American consumer’s everyday living. Mullen strives to make EVs more available than at any time by developing an finish-to-close ecosystem that normally takes care of all facets of EV possession.

Forward-Wanting Statements
Sure statements in this push release that are not historical information are forward-on the lookout statements within the that means of Area 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this push release that are not statements of historic actuality may possibly be considered ahead-seeking statements. Phrases this sort of as “go on,” “will,” “may perhaps,” “could,” “ought to,” “hope,” “predicted,” “programs,” “intend,” “anticipate,” “believe that,” “estimate,” “predict,” “potential” and similar expressions are supposed to detect such forward-hunting statements. All ahead-seeking statements require considerable challenges and uncertainties that could cause true final results to differ materially from all those expressed or implied in the ahead-hunting statements, quite a few of which are typically outdoors the handle of Mullen and are difficult to predict. Illustrations of this kind of hazards and uncertainties contain, but are not constrained to, no matter if the ATVM bank loan software will be accredited, whether or not there will be ongoing interest in the Mullen Automotive inventory by retail buyers no matter whether the Corporation will obtain its aims of launching its EV crossover, the Five, inside anticipated timelines and, if so, if the 5 will be a success and whether or not the Company’s partnerships with ARRK, Dürr, and DSA Devices and About the Air (OTA) will consequence in expediting the rollout of the Five. Further examples of these pitfalls and uncertainties include things like, but are not limited to: (i) Mullen’s skill (or inability) to acquire more funding in enough amounts or on acceptable phrases when necessary (ii) Mullen’s potential to retain current, and safe additional, contracts with companies, components and other company suppliers relating to its organization (iii) Mullen’s ability to productively extend in present markets and enter new markets (iv) Mullen’s capability to correctly handle and integrate any acquisitions of organizations, answers or technologies (v) unanticipated working expenditures, transaction prices and genuine or contingent liabilities (vi) the skill to catch the attention of and retain qualified employees and critical personnel (vii) adverse results of improved competition on Mullen’s small business (viii) improvements in federal government licensing and regulation that may perhaps adversely have an effect on Mullen’s company (ix) the chance that improvements in customer actions could adversely impact Mullen’s business enterprise and (x) Mullen’s skill to shield its intellectual house (xi) neighborhood, industry and general enterprise and financial circumstances. More factors that could result in true results to vary materially from those expressed or implied in the forward-hunting statements can be identified in the Company’s most modern once-a-year report on Type 10-K, quarterly reviews on Sort 10-Q and latest experiences on Form 8-K submitted by Mullen with the Securities and Trade Fee. Mullen anticipates that subsequent gatherings and developments might lead to its programs, intentions and anticipations to adjust. Mullen assumes no obligation, and it especially disclaims any intention or obligation, to update any ahead-seeking statements, no matter if as a consequence of new information and facts, long run occasions or usually, except as expressly necessary by law. Forward-on the lookout statements converse only as of the date they are created and really should not be relied upon as representing Mullen’s plans and anticipations as of any subsequent day.

Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

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