Mullen Automotive (MULN) stock has been bouncing around the 10-cent range in recent weeks. Its cargo van supply agreement with Randy Marion commercial dealership helped push the shares higher in March.
There is a positive event coming up in the EV space that should help Mullen get some positive attention. However, investors should be aware of the risk of high inflation and recession fears.
EV Battery Packs
Unlike conventional combustion engine vehicles that use heavy lead-acid batteries, EVs get their power directly from a pack of 2,000 plus individual lithium-ion cells. These batteries have a vastly increased life cycle and are more reliable than their predecessors.
EV battery technology is constantly evolving, with new technologies emerging all the time. But the key challenge is bringing battery prices down to a level where they can be affordable for mass production.
To make this happen, manufacturers are developing new ways to maximize battery space in EV designs. This can include designing a battery pack that does not have to contain numerous modules.
Moreover, there is also the issue of reducing the amount of metals used in EV batteries. Cobalt and nickel are two of the most valuable ingredients, but both are expensive and environmentally damaging to obtain.
Mullen Automotive News EV Vehicles
EVs use an electric motor to drive instead of a gas or diesel engine. All-electric vehicles are the most common type of EV, but there are also plug-in hybrids that use a battery to power an electric motor and a smaller internal combustion engine for added driving range.
The size of the battery in an EV is a critical factor in how far it can go on a single charge. It determines whether the vehicle is an all-electric (BEV) or a plug-in hybrid (PHEV).
A BEV can travel up to 100 miles on a charge, while a PHEV may offer much longer driving ranges. Compared to gas-powered cars, EVs can save drivers money in fuel costs.
Battery costs have increased over the past year, but innovations in technology and a better charging infrastructure can help lower them. In addition, research and development efforts are focusing on reducing the use of critical metals such as nickel and cobalt.
Mullen Automotive News Bollinger Motors
Bollinger Motors is a relatively new name to the electric vehicle manufacturing space, having only launched its B1 and B2 sport utility vehicles in 2016. The Ferndale-based firm has largely self-financed its design and engineering efforts.
After a stint in industrial design, Robert Bollinger decided to pursue an entrepreneurial dream based on his background as a grass-fed beef farmer. He drew inspiration from his rural vocation to build an electric SUV and truck that was more rugged than other models on the market.
The Bollinger B4 is a Class 4 cab-forward truck, designed to offer maximum cargo volume and accommodate unlimited adaptation, while prioritizing safety. It features a 700-volt lithium-ion battery pack from Our Next Energy (ONE). The company’s batteries are made with LFP (lithium iron phosphate) chemistry to ensure safety and reduce cost.
Mullen Automotive is a Southern California-based electric vehicle manufacturing company that strives to make EVs more accessible. Its goal is to create an end-to-end ecosystem that takes care of all the necessary aspects of EV ownership.
The Company has a diverse portfolio of clean energy vehicles. Its current product lineup includes the Mullen FIVE EV Crossover, Mullen I-GO Commercial Urban Delivery EV, and Mullen Commercial Class 1-3 EVs.
It also holds a controlling interest in Bollinger Motors, a diversified truck producer that manufactures B1 and B2 electric SUV trucks and Class 4-6 commercial vehicles.
Mullen announced a number of accretive deals in the past few weeks that set it in a strong position to expand across several revenue-generating channels. It’s also working to expand its commercial cargo vehicle production operations in Mississippi.