Mullen Automotive Teams with Loop Global for EV Charging Solutions
Leading the Charge
Mullen Automotive, an emerging electric vehicle manufacturer, has entered into a definitive agreement with Loop Global Inc., a full-service EV charging solution provider, to build the next generation of public and private EV charging technology, infrastructure and network solutions.
The partnership will combine Mullen Automotive’s expertise in electric vehicle design and engineering with Loop’s expertise in electric vehicle charging infrastructure to offer a comprehensive solution for businesses, municipalities and residential EV drivers looking to deploy seamless and reliable EV charging stations.
Mullen EV Charging Network Powered by Loop will support both level 2 and level 3 DC fast charging. The turnkey solution will include everything from site assessment and design to installation and ongoing operation. It will also feature cutting-edge technology such as fast-charging capabilities and smart charging technology.
In addition, the companies are teaming up to finance and/or own and operate EV charging infrastructure through Loop’s unique financing program, called the Loop Impact Fund. Further, Loop as a Service (“LaaS”) payment options provide Mullen EV Charging Network customers with a no Capex budget solution for the turnkey installation of EV charging infrastructure at $0 down, utilizing a portion of the estimated monthly charging revenue to pay for the upgrades over a fixed term.
“Our partnership with Loop will not only enable us to provide turnkey EV charging solutions to our customers, but also the Loop Impact Fund commitment is an opportunity to provide our customers with potential cash flow-positive alternative financing when implementing the Mullen EV Charging Network Powered by Loop. In addition to being highly strategic, this partnership aligns with our goal of end-to-end efficiency to make owning a Mullen EV much more user friendly,” said David Michery, chairman and CEO of Mullen.
“Loop Global is thrilled to partner with Mullen Automotive to offer turnkey electric vehicle charging solutions,” said Dustin Cavanaugh, CEO of Loop Global. “Our combined teams are dedicated to providing the most comprehensive technology and services to support the transition to electric transportation, and we are excited to work with Mullen Automotive to make that vision a reality.”
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of premium electric vehicles (EVs) that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. The Mullen FIVE, the Company’s first electric crossover, is slated for delivery in 2024 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions’ (“ELMS”) assets, including IP and a 650,000-square-foot plant in Mishawaka, Indiana.
About Loop
Loop is one of the fastest-growing electric vehicle charging network infrastructure companies in the world. The company provides turnkey hardware, software and ongoing operating service-based solutions that simplify and streamline the delivery of cost-effective public and private EV charging network infrastructure for commercial, multifamily residential, fleet and municipal real estate markets. Since its launch in 2019, Loop has grown to provide comprehensive EV charging solutions in all 50 U.S. states as well as over 15 countries and growing.
