Mullen Technologies inks a strategic partnership with NexTech Batteries

March 11, 2021

Mullen Technologies, an emerging EV manufacturer, launched a strategic partnership with NexTech Batteries as an EV battery supplier and key partner for battery development and technologies.

In June 2020, Mullen had announced a definitive agreement to merge with Net Element (NASDAQ:NETE) in a stock-for-stock reverse merger.

Mullen plans to produce 100K+ vehicles in the upcoming 5 years utilizing NexTech lithium sulfur (Li-S) pouch format batteries, which are 60% lighter than today's EV's, improving vehicle efficiency and reducing overall energy consumption.

"This technology allows Mullen to potentially be below $90/kWh at a pack level, greatly reducing cost to consumers. The low carbon footprint, high specific energy density and much lower cost to the consumer will make Mullen extremely competitive in this market segment," Mullen CTO Frank McMahon commented.

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