BREA, Calif., October 25, 2018-Mullen Technologies, Inc. announced today a new global cooperation agreement with the Zhejiang Jonway Group Co.Ltd, a major manufacturer of electric vehicles in China.
The cooperation, via an executed agreement, is specifically for exclusive distribution of a 100% electric minivan, a 4-person automobile model along with fast charge infrastructure, as well as UTV’s, ATVs, and EV motorcycles to be homologated and sold in the US under the Mullen brand. The agreement also stipulates that Mullen will sell the vehicles globally, including in South America, GCC Countries, the Caribbean, Russia, Africa as well as major Asian markets outside of China.
Mullen will be responsible for branding, R&D, engineering and technology including the battery management system and battery chemistry in compliance with US Department of Transportation (DOT) and National Highway Traffic Safety Administration (NHTSA) regulations.
“Our close collaboration with the Zhejiang Jonway Group provides access in the USA to a state of the art, fast charging technology and a set of incredibly versatile and friendly family vehicles that will resonate with the US consumer.” David Michery, CEO of Mullen Technologies, Inc., said. “We are seeing a significant increase in demand for electric vehicle technology that is only restricted by access to accessibly priced models. This agreement with Jonway fits well with Mullen’s mission of building profitability and value with low risk, high quality and technology transportation across global markets.”
About Mullen Technologies:
Mullen Technologies, Inc. is a California based pre-IPO Electric Vehicle (EV) manufacturer and international distributor of high tech, zero emission vehicles. The Company aims at solving the significant environmental problem caused by gasoline-powered vehicles and providing a variety of affordable, electric cars to the American market and the entire world market. Currently, the Company manufactures a proprietary USDOT certified four-door electric sedan. The company is in negotiations with several international vehicle manufacturers to develop joint ventures to bring quality, cost-effective vehicles to the United States for certification and distribution.
Mullen Technologies, Inc. is committed to not only low cost, high-quality product, but to be a fiscally responsible organization that values good business sense and refuses to spend indiscriminately or irresponsibly.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements in this press release include statements relating to the Company’s corporate finance and other strategic initiatives, and the Company’s expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2015. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
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