Mullen Advanced Energy, LLC submitted a concept paper to obtain $50 million in grant funding from the U.S. Department of Energy, the company recently announced.
The DOE’s Funding Opportunity for Battery Materials program was established on Nov. 13, and it earmarks up to $3.5 billion from the Bipartisan Infrastructure Law to boost domestic production of advanced batteries, and battery materials.
Mullen’s concept paper submission details their plan to produce approximately 150,000 battery packs domestically through 2032 to support Mullen’s EVs, which are currently assembled at the company’s plant in Tunica, Mississippi. The plan projects to reduce current battery costs (the single largest material cost for EV’s) by more than 20%.
Mullen plans to use the grant funding to support capital investment for plant equipment and tooling to maximize capacity for battery manufacturing, industrial, energy storage and consumer applications at Mullen’s new 122,000-square-foot facility in Fullerton, California.
