Mullen is currently working with engineering partner ARRK to finalize the structural layout for the Mullen FIVE with computer-aided engineering (CAE) simulation loop. The program is on track to finish engineering development next year as originally planned. Mullen previously announced its partnership with leading German automotive engineering company ARRK in
Additionally, Mullen has recently initiated a strategic collaboration with Team Rosberg Engineering (TRE) for vehicle chassis and safety development. TRE was founded in 1997 by Formula 1 world champion
'The engineering work for the FIVE continues to progress in full swing. We've made rapid progress thanks to our incredible partners,' said David Michery, CEO and chairman of
About Mullen:
Mullen is a
Forward-Looking Statements
Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as 'continue,' 'will,' 'may,' 'could,' 'should,' 'expect,' 'expected,' 'plans,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential' and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to whether the Company will achieve its objectives for finishing its engineering development within anticipated timelines; and whether the Company's collaborations with Team Rosberg Engineering (TRE) and ARRK will be successful or yield anticipated results. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the
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