Mullen Automotive Inc. (Nasdaq: MULN) said it’s teaming up with German auto parts maker Team Rosberg Engineering GmbH for the vehicle framework and safety development of the Five crossover.
Team Rosberg Engineering was founded in 1997 by F1 World Champion Keke Rosberg (‘82) and is now led by his son, F1 World Champion Nico Rosberg (‘16).
The Brea EV maker is also collaborating with German product development company, ARRK Engineering GmbH, to finalize the layout of the Five using a computer-aided engineering simulation loop, company officials said.
“The engineering work for the FIVE continues to progress in full swing,” Mullen CEO David Michery said in a statement. “We’ve made rapid progress thanks to our incredible partners.
“These new partnerships are accelerating our path to start of production, which we previously slated for Q4 2024 and Q1 2025.”
Following the announcement, shares in Mullen were little changed at 69 cents apiece and a $342 million market cap.