Mullen Automotive announces a partnership with Global EV Technology, Inc. and EV Technologies, with initial development for improving energy management technology in electric vehicles for greater range and vehicle performance. Under the newly formed entity, Mullen owns 51% and will consolidate the results of its operations in Mullen Automotive, Inc. Under the agreement between the parties, Global EV Technology will be contributing its technology and existing contracts to MAEO, and Mullen will provide capital, execution and commercialization to grow the business. Both companies will be contributing and working together on known verified technology for improving existing vehicle performance and extending battery range. As this technology has immediate and key implications for electric vehicles, MAEO’s initial development is focused on improving Mullen’s lineup of commercial and consumer EVs.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on MULN:
- Mullen Stock: Why It Tumbled and Where It’s Headed
- Mullen Automotive accelerates integration of polymer battery technology
- Mullen completes successful LAX pilot program of Mullen Class 1 EV vans
- Mullen and Randy Marion Deliver First Class 1 EV Cargo Vans to UNC Charlotte, Forthcoming Announcement of Additional Customer Class 1 Van Deliveries to Follow
- Mullen and Randy Marion Deliver First Class 1 EV Cargo Vans to the University of North Carolina at Charlotte