Mullen Automotive, Inc. (NASDAQ: MULN) had a notable rebound in after-market activity, with its shares gaining 6.79% to $2.33, closing at $2.18, after a sharp 39.44% decline during regular business hours. The resurgence was sparked by the company’s announcement of a strategic alliance to further its battery technology and domestic manufacturing capabilities.
Mullen to Collaborate with Enable Greentech
Mullen and Enpower Greentech Inc. (EGI), a leading worldwide pioneer in the production of lithium-ion batteries, have signed a Partnership and Supply Agreement. The development and manufacturing of EGI’s cutting-edge SWIFT Series semi solid-state batteries (SSBs) are the main objectives of this cooperation. Aerospace, maritime, material handling, medical devices, drones, and power tools are just a few of the many commercial and industrial uses for these batteries.
Mullen’s Battery Center in Fullerton, California, will produce the batteries locally. Three production lines for lithium-iron-phosphate (LFP) and polymer-based battery modules are now housed in this facility. MULN will be able to expand its technical capacity and begin full production by early 2026 thanks to the agreement.
Mullen Boosting American Battery Supply Chains
With this agreement, Mullen intends to further solidify its commitment to U.S.-made battery solutions, helping to mitigate the risks associated with global supply chains and rising import taxes. EGI’s investment in domestic manufacturing, which plans to begin production in its Ann Arbor, Michigan facility by late Q3 2025 and continue to expand through 2026, supports this strategy. This will make it possible to produce pouch cells with superior performance and no tariffs that are specifically designed for the American market.
Execution and Leadership for Future Development
In charge of this strategic endeavor is John Taylor, President of Mullen’s Commercial Division. Under his supervision, this crucial project is expected to be finished on time and mark a major turning point in MULN’s advancement of battery technology and electric mobility solutions.
