Mullen Now Working on $680,000 Federal Contract Agreement

Mullen Federal Contract Agreement
Market News Daily – Mullen Now Working on $680,000 Federal Contract Agreement.

Mullen Automotive (NASDAQ:MULN) is now working on its $680,000 federal contract agreement with the District of Columbia (DC).

The company’s subsidiary, Mullen Advanced Energy Operations (“MAEO”), will today begin execution of a $680,000 contract that was previously awarded by the District of Columbia, Washington, D.C., to EV Technologies, LLC.

The contract is for the purchase and installation of Energy Management Module units on Chevrolet Bolts within the D.C. city government’s vehicle fleet.

Mullen and EV Technologies’ team of engineers are onsite in DC today to commence installing the EMM units onto the Chevrolet Bolts and to perform the required tests included in the pilot.

Previous testing indicates that Energy Management Module (“EMM”) technology substantially increases the driving range and efficiency of any current EV battery.

In March 2021, Element Materials Technology conducted specific vehicle testing on 2020 Chevy Bolts installed with EMM units with test results being a calculated increase in range from 269 to 431 miles, which is a 60% increase in efficiency.

“We have tested EMM technology in various vehicle applications and have repeatedly seen significant improvements in range.

I am extremely pleased to partner with Mullen for the commercialization and global availability of the EMM technology,” said Lawrence Hardge, CEO of Global EVT.

Positive MULN Stock News

Mullen Automotive has had many positive news this year, with some of the latest including Class 1 EV cargo vans now being listed for sale on the Randy Marion Automotive Group website.

In March, St. Joseph County announced Mullen Automotive will be the exclusive provider for a new class of electric cargo vans for the federal government.

The company is also set to produce three types of electric vehicles at the former AM General site in St. Joseph County.

“I am very proud that the first major field application is with the DC city government, where we will demonstrate the benefits of our EMM technology.

We have been working on this bid to secure the business for some time and it is a great achievement to win this opportunity.

I would like to thank the many D.C. government officials who made this a reality,” said Lawrence Hardge, CEO of EV Technology and chief scientific officer of MAEO.

“The DC city project is the first of many that we have planned for the new EMM technology,” said David Michery, CEO and chairman of Mullen Automotive, Inc.

“Municipal city fleets are a perfect use case for EVs and even better with our Energy Management Modules added for extending vehicle range and performance.

Ideally, the vehicles can spend less time charging and more time in the local communities for civic use and support.”

Related: Mullen Receives Big $110M Funding for This Year

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Market News Today - Mullen Now Working on $680,000 Federal Contract Agreement.
Market News Today – Mullen Now Working on $680,000 Federal Contract Agreement.

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