Mullen Announces Collaboration with Team Rosberg Engineering (TRE) for Vehicle Chassis Development

BREA, Calif., Aug. 25, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- . (NASDAQ: ) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today a collaboration with TRE (Team Rosberg Engineering) GmbH from Germany on vehicle chassis and safety development for the Mullen FIVE EV Crossover Program.

Mullen is currently working with engineering partner to finalize the structural layout for the Mullen FIVE with computer-aided engineering (CAE) simulation loop. The program is on track to finish engineering development next year as originally planned. Mullen previously announced its partnership with leading German automotive engineering company ARRK in December 2021. ARRK is supporting Mullen with CAE, body in white, battery, closures, interior, chassis, thermal, and infotainment engineering.

Additionally, Mullen has recently initiated a strategic collaboration with (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 (Formula 1 world champion 2016) has been actively involved in the company since 2018, primarily focusing on New Mobility. With 25 years of experience, TRE’s competence 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 for several large OEMs worldwide.

"The engineering work for the FIVE continues to progress in full swing. We’ve made rapid progress thanks to our incredible partners,” said David Michery, CEO and chairman of Mullen Automotive. “These new partnerships are accelerating our path to start of production, which we previously slated 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.”

About 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 and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.

Forward-Looking Statements

Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "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 to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen 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 finishing its engineering development within anticipated timelines; and whether the Company’s collaborations with Team Rosberg Engineering (TRE) and ARRK will be successful or yield anticipated results. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen’s business; (viii) changes in government licensing and regulation 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, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in 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 cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it 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.

Contact:

Mullen Automotive, Inc.

+1 (714) 613-1900

Wire Service Contact:

InvestorWire (IW)

Los Angeles, California



212.418.1217 Office

Attachment