Mullen is Now Launching New Pilot Program in New York

Market News Today - Mullen is Now Launching New Pilot Program in New York.
Market News Today – Mullen is Now Launching New Pilot Program in New York.

Mullen Automotive (NASDAQ:MULN) has announced that it is now launching a new pilot program in New York for the New York Power Authority.

According to the company, the NYPA began testing Mullen’s EV cargo van on July 6th in upstate New York.

New York Power Authority is a power generation and transmission company at the forefront of producing and bringing clean, reliable energy to New York.

“NYPA’s 2030 Vision is a thriving, resilient New York State powered by clean energy.

NYPA is leading the transition to a carbon-free, economically vibrant New York through customer partnerships, innovative energy solutions, and the responsible supply of affordable clean and reliable electricity.

Strategic priorities include preserving and enhancing the value of NYPA hydropower assets; pioneering the path to decarbonizing NYPA natural gas plants; becoming a leading transmission developer, owner and operator; partnering with customers and the state to decarbonize energy use; and reimaging the New York state canals system,” said the official press release.

“We are very excited to have this pilot with NYPA as they work towards eliminating carbon emissions in the state of New York,” said John Schwegman, chief commercial officer of Mullen Automotive.

“It takes a few organizations to start the buzz of sustainability in each state. We see NYPA as one of the first movers in New York. We look forward to enhancing NYPA and other fleets’ sustainability goals with our various all-electric commercial vehicles.”

“It’s exciting to see our EVs enter the utility provider market and into upstate New York with the NYPA pilot. Our EV cargo van is a great fit in closed workplace campus scenarios,” said David Michery, CEO and chairman of Mullen Automotive.

Other MULN Stock News

Market News Today - Mullen is Now Launching New Pilot Program in New York.
Market News Today – Mullen is Now Launching New Pilot Program in New York.

Mullen Automotive announced that it has terminated its partnership with Lawrence Hardge and Global EV Technology according to a new filing with the Securities and Exchange Commission.

“On July 10, 2023, Mullen Automotive Inc. issued a termination notice to Lawrence Hardge and the following entities Global EV Technology, Inc. and EV Technology, LLC terminating the Agreement dated April 17, 2023  between the Company and EVT.

Pursuant to the Agreement, the parties agreed to jointly form and organize Mullen Advanced Energy Operations (“MAEO”) to develop, manufacture, market, sell, lease, distribute and service all products resulting from a device that is designed to extend the effective battery life and EVT would agree to license to MAEO the Technology and all intellectual property rights relating to the Technology.

The termination notice, which was sent after numerous attempts by the Company  to obtain adherence by EVT to the terms of the Agreement, references several breaches by EVT including (1) failing to execute documents evidencing an irrevocable, royalty free, worldwide exclusive license to the Technology and IP, in perpetuity, to MAEO, (2) refusing to conduct any tests of the Technology at a Mullen approved facility after the LOA, (3) repeatedly refusing to honor the terms of the Mutual Non-Disclosure Agreement signed April 14, 2023, and (4) failing to disclose all claims or threatened legal actions by any third parties related to the Technology.”

In May, MAEO named Lawrence Hardge to the position of Senior Vice President of Technology.

MAEO, which is split-owned by both Mullen Automotive and Global EV will no longer be doing business together.

Lawrence Hardge gained much attention after starting rumors of a $10 billion contract deal with Saudi Arabia.

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Market News Today - Mullen is Now Launching New Pilot Program in New York.
Market News Today – Mullen is Now Launching New Pilot Program in New York.

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