Mullen Acquires Battery Pack Production Assets From Romeo Power

September 11, 2023

(NASDAQ: MULN ) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces the purchase of battery pack production assets from Romeo Power for approximately $3.5 million. The Romeo Power assets include production lines for EV pack assembly and precision R&D module and pack development with associated inventory, allowing for the production of modules and vehicle battery packs. Additionally, the purchased assets include battery testing and validation equipment, computer numerical control (CNC) equipment for battery pack, and module enclosure production. “Purchasing the Romeo assets is consistent with our battery pack production path and previous announcements for our high voltage facility in Monrovia. Examples of such risks and uncertainties include but are not limited to whether the purchase of battery pack production assets will achieve the Company’s battery pack production objectives, lessen reliance on third-party suppliers or prove successful to the Company.

The source of this news is from Mullen Automotive