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Electric vehicle company, Mullen Automotive Inc (NASDAQ:MULN) announced Thursday the test results of their recently acquired joint venture Element Materials Technology.
The Element Materials Technology test results indicated that the Energy Management Module (“EMM”) technology substantially increases the driving range and efficiency of any current EV battery. Specific vehicle testing of a high-volume OEM electric vehicle by Element resulted in a calculated increase in range from 269 to 431 miles, which is a 60% increase in efficiency.
EMM technology was also tested by Mullen Automotive engineers on the Company’s Class 1 EV Cargo Van at its Troy, Michigan, facility. Results showed more than a 75% increase in range for the 42-kWh lithium-ion battery pack, which would be a calculated EPA estimated range of 186 miles at a very low added cost and mass.
“We have tested EMM technology in various vehicle applications and have repeatedly seen significant improvements in range. I am extremely pleased to partner with Mullen for the commercialization and global availability of the EMM technology,” said Lawrence Hardge, CEO of Global EVT.
“Seeing the previous EMM test results conducted by Element, along with Global EVT testing, and correlating that with testing by our engineers, we believe this technology is a perfect fit for Mullen’s EV product lineup as well as the advancement in EV technology for the overall automotive industry,” said David Michery, CEO and chairman of Mullen Automotive. “Mullen Advanced Energy Operations plans on licensing this technology to anyone who uses an electric vehicle.”
EMM technology is being integrated into the final stages of product development and is planned to be introduced in all Mullen commercial and consumer vehicle programs.
Shares of MULN are up 2.11% in early trading on Thursday.
