TinyGemsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Enters Licensing Agreement with Qiantu Motors to Manufacture, Distribute EV Supercar

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is partnering with Qiantu Motors to launch the DragonFLY K50 in the Americas. As part of an exclusive licensing agreement, Qiantu Motors and affiliated companies granted MULN the North and South American IP and distribution rights allowing assembly and distribution. The announcement noted that Mullen will finalize vehicle engineering in compliance with U.S. regulations with final assembly planned for its Indiana-based manufacturing facility. The EV supercar will be sold under the Mullen GT & GTRS brands with performance specs anticipated to include going from 0 to 60 miles per hour in 1.95 seconds and with a top speed of more than 200 mph, thus ensuring its supercar status. Mullen noted that it will commence the reengineering and redesigning modifications, which will be in line with Mullen’s vehicle design language currently found in the Mullen FIVE and Mullen FIVE RS. “This agreement with Qiantu is an important milestone for the company,” said Mullen CEO and chair David Michery in the press release. “Not only does it settle a long outstanding dispute between our respective companies but also presents the opportunity to fulfill my vision for a supercar that would rival some of the best supercars in the world. Since day one, we have received overwhelming positive feedback for this vehicle, including our original debut at the 2019 New York Auto Show and the Indy 500 in May 2019. We are excited to start the GT and GTRS programs on March 20, 2023.”

To view the full press release, visit https://ibn.fm/6tWmR

About Mullen Automotive Inc.

Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen I-GO Commercial Urban Delivery EV, Mullen commercial class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the company, visit www.MullenUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

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