BREA, Calif., Aug. 25, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive, Inc.. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces a collaboration with TRE (Team Rosberg Engineering) GmbH of Germany on the vehicle chassis and development of safety for the Mullen FIVE EV Crossover program.
Mullen is currently working with an engineering partner ARK to finalize the structural layout of the Mullen FIVE with computer aided engineering (CAE) simulation loop. The program is on track to complete technical development next year, as originally planned. Mullen previously announced its partnership with leading German automotive engineering company ARRK in December 2021. ARRK supports Mullen with CAE, body-in-white, battery, closures, interior, chassis, thermal and infotainment engineering.
Additionally, Mullen recently initiated a strategic collaboration with Rosberg Engineering Team (TRE) for vehicle chassis and safety development. TRE was founded in 1997 by Formula 1 world champion Keke Rosberg (’82) as a development center for the series development of chassis systems. Nico Rosberg (2016 Formula 1 World Champion) has been actively involved in the company since 2018, focusing primarily on New Mobility. With 25 years of experience, TRE’s expertise includes all aspects of vehicle dynamics development. TRE is highly specialized in chassis development for production and prototype vehicles and is an independent Tier 1 engineering supplier to several major OEMs worldwide.
“Engineering work for the FIVE continues to progress at full speed. We have made rapid progress thanks to our incredible partners,” said David Michery, CEO and President of Mullen Automotive. “These new partnerships accelerate our path to the start of production, which we previously planned for Q4 2024 and Q1 2025. Having companies such as ARRK and Team Rosberg involved in the FIVE program is a great privilege for Mullen.
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean, scalable energy solutions. Mullen has evolved over the past decade in step with consumer and technology trends. Today, the company works diligently to provide exciting electric vehicle options built entirely in the USA and designed to fit perfectly into the life of the American consumer. Mullen is working to make electric vehicles more accessible than ever by creating an end-to-end ecosystem that supports all aspects of electric vehicle ownership.
Certain statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as ‘continue’, ‘will’, ‘may’, ‘could’, ‘should’, ‘expects’, ‘expects’, ‘plans’, ‘intends’, “anticipates”, “believes”, “estimates”, “predicts”, “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results will differ materially from those expressed or implied by forward-looking statements, many of which are generally beyond Mullen’s control and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether the Company will achieve its objectives for completing its technical development within the expected timeframe; and whether the Company’s collaborations with Team Rosberg Engineering (TRE) and ARRK will be successful or yield the expected results. Other examples of such risks and uncertainties include: include, but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in a sufficient amount or on acceptable terms if needed; (ii) Mullen’s ability to maintain and obtain additional contracts with manufacturers, parts suppliers and other service providers related to its business; (iii) Mullen’s ability to successfully expand into existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unforeseen operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) the adverse effects of increased competition on Mullen’s business; (viii) changes in government licenses and regulations that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industrial and general business and economic conditions. Other factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements can be found in the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may alter his plans, intentions and expectations. Mullen undertakes no obligation, and specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.
Mullen Automotive, Inc.
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Rosberg Engineering team supports Mullen FIVE chassis and safety development