Mullen Automotive, Inc., an emerging electric vehicle (EV) 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.
According to a release, 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 fleets, municipalities, and residential EV drivers looking to deploy EV charging stations.
Mullen's current EV 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.
Turnkey EV Charging for Fleets
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.
Curious about what else is happening? Mullen is focused on electric, having acquired the majority interest in Bollinger Motors in late 2022 for $148.2 million in cash and stock. Not long after the announcement, Bollinger and Wabash announced plans to develop a refrigerated electric delivery truck.