Mullen Automotive Inc. (Nasdaq: MULN) plans a new battery development and production facility in Fullerton.
The 122,000-square-foot building will be the new home for the Brea-based EV maker’s Monrovia team, whose battery facility will be closed by the end of the year. The Fullerton building will also house the assets Mullen recently acquired from Romeo Power, which parent company Nikola Corp. (Nasdaq: NKLA) liquidated earlier this year, marking one of the quickest implosions of an Orange County public company in recent memory.
Mullen’s new battery plant is located on 1500 E. Walnut Ave, near the Orange (57) and Riverside (91) Freeways.
“We are one step closer to fulfilling our commitment to providing the next generation of battery technology to our lineup of EV vehicles, providing a clean and safe alternative to current lithium-ion batteries,” CEO David Michery said in a statement.
Shares in Mullen today were down 0.3% at 20 cents a share and an $81 million market cap.
