Mullen Automotive is embarking on an exciting program to design and engineer its own electric supercar, the Mullen GT and GTRS, set to redefine high-performance EVs. By securing exclusive North and South American rights to the Qiantu K50 DragonFLY, Mullen is not just acquiring a vehicle; they are launching a comprehensive initiative to refine, re-engineer, and relaunch this platform to meet and exceed the demands of the American supercar market. This strategic move marks a significant step in Mullen’s commitment to innovation and leadership in the electric vehicle sector.
Mullen GT Electric Supercar: Showcasing the design from Mullen's program to create high-performance electric vehicles
BREA, Calif., March 20, 2023– via InvestorWire – Mullen Automotive, Inc. (NASDAQ: MULN), a rising name in electric vehicle manufacturing, has officially announced a landmark agreement that grants them exclusive IP and distribution rights for the North and South American markets for the Qiantu K50, also known as the DragonFLY. This agreement with Qiantu Motors and its affiliates sets the stage for Mullen’s ambitious program to design and assemble a cutting-edge electric supercar right in Mishawka, Indiana, tailored for the discerning American consumer.
The Qiantu K50, already recognized for its striking aesthetics and carbon fiber construction, provides a solid foundation for Mullen’s vision. However, Mullen’s program goes far beyond simple rebranding. The company is committed to a complete vehicle engineering overhaul to ensure the GT and GTRS models not only comply with stringent U.S. homologation standards but also embody the performance and design expectations of today’s most demanding supercar enthusiasts. This program will see the vehicle refreshed with Mullen’s signature design language, harmonizing it with the stylistic cues present in the Mullen FIVE and Mullen FIVE RS models.
Performance is at the heart of Mullen’s design program for this supercar. The company is targeting blistering performance metrics, aiming for a 0-60 MPH acceleration in a mere 1.95 seconds and a top speed exceeding 200 MPH. This commitment to extreme performance underscores Mullen’s dedication to creating an EV supercar that can genuinely compete with the world’s most elite vehicles.
Chairman Lu of Qiantu Motors expressed enthusiasm for the collaboration, stating, “Qiantu has dedicated years to electric vehicle development, and we are thrilled to partner with Mullen Automotive to introduce the Qiantu K50 to the U.S. market. We believe the K50’s distinctive design and superior driving dynamics will resonate strongly with American EV buyers, offering a new benchmark in performance and user experience.”
Echoing this sentiment, David Michery, CEO and Chairman of Mullen Automotive, highlighted the strategic importance of this agreement. “This partnership with Qiantu is a pivotal achievement for Mullen. It not only resolves past disputes but, more importantly, empowers us to realize our vision of developing a supercar that can rival the best globally,” Michery stated. He further noted the positive reception the vehicle has already garnered, referencing its previous appearances at events like the 2019 New York Auto Show and the Indy 500, emphasizing the anticipation for the GT and GTRS program launch on March 20, 2023.
For more detailed information about this agreement, interested parties can refer to Mullen Automotive’s recent 8-K filing, accessible here.
About Mullen Automotive
Mullen Automotive, Inc. (NASDAQ: MULN), headquartered in Southern California, is dedicated to pioneering the next wave of electric vehicles. With two strategically located U.S.-based assembly plants, Mullen is developing a comprehensive EV portfolio. This includes the Mullen FIVE EV Crossover, commercial EVs in Classes 1-3, and the robust offerings from Bollinger Motors, encompassing the B1 and B2 electric SUV trucks and Class 4-6 commercial vehicles. The Mullen FIVE, anticipated for delivery in 2024, showcases award-winning design and innovative PERSONA technology, which personalizes the driving experience through facial recognition. Mullen Automotive’s strategic expansion includes the majority acquisition of Bollinger Motors in September 2022 and the acquisition of Electric Last Mile Solutions’ assets in December 2022, which included a substantial 650,000-square-foot manufacturing facility in Mishawaka, Indiana.
For additional details about Mullen Automotive, please visit www.MullenUSA.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined under Section 27A of the Securities Exchange Act of 1934. These statements, identifiable by terms like “continue,” “will,” “expect,” and “anticipate,” inherently involve risks and uncertainties that could cause actual outcomes to differ materially from projections. These risks include, but are not limited to, the successful commencement of the GT and GTRS programs, the realization of performance targets, timely U.S. homologation, design alignment with existing Mullen models, and the market success of the GT and GTRS. Further uncertainties involve Mullen’s financial stability, supply chain management, market expansion, acquisition integrations, operational costs, personnel retention, competitive pressures, regulatory changes, consumer behavior shifts, intellectual property protection, and broader economic conditions. Detailed risk factors are available in Mullen’s SEC filings, including Form 10-K, 10-Q, and 8-K reports. Mullen disclaims any obligation to update these forward-looking statements unless legally required, as they reflect expectations only as of the release date.
Contact:
Mullen Automotive, Inc.
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