Mullen Completes Purchase of Additional Nikola Battery Assets for US Battery Production

Core Viewpoint - Mullen Automotive is enhancing its U.S. battery production capabilities by acquiring new equipment from Nikola Corporation, aiming to produce American-made battery components and reduce reliance on foreign imports [2][3][5]. Group 1: Battery Production Capabilities - The Fullerton facility will feature high-volume standard battery chemistry production lines and advanced testing capabilities, with production expected to start in the second half of 2025 [1][3]. - Recently purchased assets from Nikola include a high-volume standard battery chemistry production line and an electro-dynamic shaker system for in-house testing [3][8]. Group 2: Strategic Goals - Mullen is focused on increasing U.S. manufacturing capabilities in response to the growing demand for American-made battery components and systems [3][4]. - The company plans to produce its own commercial vehicle battery packs and explore other industry applications and commercial sales opportunities [3]. Group 3: Financial and Operational Developments - In September 2023, Mullen acquired battery production assets from Romeo Power for approximately $3.5 million, which included equipment, inventory, and intellectual property [5]. - Mullen is seeking$55 million in matching funds from the U.S. Department of Energy to support its U.S.-based battery and pack production initiatives [5]. Group 4: Company Overview - Mullen Automotive is based in Southern California and operates two vehicle plants in the U.S., with commercial vehicle production having begun in Tunica, Mississippi [6]. - The Mullen ONE and Mullen THREE models are certified by the California Air Resource Board and EPA, and are available for sale in the U.S. [6].