Mullen Automotive Inc. (NASDAQ: MULN) Receives Rave Reviews Following Debut at LA Auto Show; Mullen FIVE RS Aims to Be World’s Fastest EV

• Mullen Automotive launched the Mullen FIVE EV Crossover at the recent LA Auto Show, with the vehicle winning the auto show’s ZEVA(R) award for top all-electric SUV
• The Mullen FIVE has seen a spike in popularity following its debut, with the carmaker recently opting to lift the initial reservation limit to 25,000 vehicles
• The future Mullen FIVE’s RS is being modeled to usurp Tesla Model S Plaid’s title as the world’s fastest EV, with the ability to accelerate from 0-62 mph in a mere 1.9 seconds
• Mullen Automotive has recently entered a partnership with Germany’s ARRK to support the engineering development of the Mullen FIVE and future models within its pipeline
• Mullen Automotive is a Southern California-based EV company with an established manufacturing footprint outside Tunica, MS. Mullen recently started trading on the NASDAQ under ticker symbol MULN

“If this happens, the Tesla Model S Plaid will definitely have something to worry about.” (https://ibn.fm/94YOy) 

The quote, by Top Speed Magazine, refers to the development of the Mullen FIVE RS, a sportier version of emerging electric vehicle (“EV”) manufacturer Mullen Automotive’s (NASDAQ: MULN) flagship Mullen FIVE. The California-based automaker aims to set itself apart from the rest of the automotive pack through the creation of a sophisticated and luxurious crossover EV-SUV, a vehicle that has been meticulously designed by the creators of the famed Rolls Royce Ghost, all while boasting Tesla-rivaling performance (https://ibn.fm/n2jH9).

The Mullen FIVE, starting at $55,000, is set to come equipped with a 95-kWh battery, allowing for a 325-mile (523 km) range, with the battery able to be charged up to 80 percent in just 21 minutes, thanks to its proprietary fast-charging capabilities. In terms of acceleration, the Mullen FIVE can do 0 to 62 mph (100 km/h) in 3.2 seconds, on its way to an electronically limited top speed of 155 mph (250 km/h). Those figures look even more impressive when seen through the lens of the future Mullen FIVE RS, which will have the ability to accelerate from 0 to 62 mph in a mere 1.9 seconds on its way to achieving a top speed of 200 mph. 

To put those figures into context, the Tesla Model S Plaid — currently the fastest EV in production — accelerates from 0 to 62 mph within 1.98 seconds. It comes as no surprise that the Mullen FIVE was the recipient of the recent Los Angeles Auto Show’s ZEVA Award for top all-electric SUV, beating out entries from the likes of Lincoln and Rivian (https://ibn.fm/TEH6a).

Following the successful debut of its Mullen FIVE EV Crossover at the recent LA Auto Show, Mullen Technologies announced that the carmaker would be increasing the reservation limit for its flagship vehicle to 25,000 initial reservations, up from their original 5,000-unit target (https://ibn.fm/URPqR).

“We’ve decided to increase the limit of the total number of FIVE reservations from 5,000 to 25,000 vehicles due to the strong demand in the first three days of the show,” said Jason Putnam, vice president of marketing for Mullen Automotive. “By establishing a 25,000-reservation limit, this allows us to offer a very special trim option package that will only be available to our initial ‘launch’ customer set.”

Mullen Automotive plans to build the Mullen FIVE at its existing 127,000-square-foot Advanced Manufacturing and Engineering Center (“AMEC”) outside Tunica, Mississippi. It recently announced the addition of 1.2 million square feet for a body shop, paint shop and general assembly.

The company also revealed that it had entered a strategic partnership with ARRK, a Munich, Germany-based automotive engineering company. The partnership will support the continued engineering development of the Mullen FIVE, with a focus on Computer Aided Engineering (CAE); body development with closures; high voltage battery housing; interior, chassis, and thermal management; and infotainment for the next 3-year period.

The partnership will initially work towards the development of the Mullen FIVE EV Crossover, and then move on to the company’s future vehicle pipeline, which includes a seven-seat SUV program (https://ibn.fm/QODtY).

Mullen also recently started public market trading on Nov. 5, 2021. You can find Mullen on the NASDAQ, under ticker symbol MULN (https://news.mullenusa.com/mullen-automotive-commences-trading-on-nasdaq).

For more information about the Mullen FIVE, visit the company’s website at www.MullenUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

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