Mullen Technologies, Inc. (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer and technology company, which previously announced a definitive agreement to merge with Net Element (NASDAQ: NETE), in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company, today announced results from the independent testing of its licensed solid-state polymer battery technology. According to the update, the testing was undertaken by EV Grid, Inc. (“EV Grid”), an independent lab based in San Dimas, California. The results support that the technology may be capable of enabling an electric vehicle to travel 640 miles at a cruising speed of 55 mph on a flat surface, and 550 miles at a cruising speed of 75 mph, which could allow for significantly longer driving distances on a single charge than today’s commercially available lithium batteries. “We believe our licensed solid-state battery technology should provide us with an advantage over many other companies in the EV space as it could have the ability to provide vehicle owners with significantly increased range from a single charge,” Mullen’s CEO David Michery stated in the news release. “We believe the launch of our MX-05 will change the way that owners think about EVs and their capabilities.”
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About Mullen Technologies
Mullen Technologies is a Southern California-based licensed vehicle manufacturer that operates in various verticals of the businesses focusing in the automotive industry: Mullen Automotive, Mullen Energy, Mullen Auto Sales, Mullen Funding Corp., and CarHub. Each of these divisions provide Mullen with diversity of different products and services within the automotive industry. For more information, please visit: www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
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