Mullen Automotive, a notable player in the electric vehicle (EV) sector, has reported significant advancements in both sales and financial health, assuring its stakeholders of a promising future despite past criticisms. David Michery, the CEO and chairman of Mullen Automotive, provided insights into the trends that could shape the EV landscape in 2025 during a recent interview with Electrek.
In his discussion, Michery highlighted that the total cost of ownership for EVs is expected to decrease notably. He stated, “Even if the federal EV tax credit from the Inflation Reduction Act is repealed, EVs will become more affordable through state-level incentives, manufacturer subsidies, and private partnerships. The investment case for electrification is simply too strong for the private sector to ignore.” He noted that reduced battery costs, along with cheaper maintenance and lower energy expenses, will increase the appeal of EVs to both consumers and businesses.
The CEO emphasised that charging infrastructure improvements and fleet retrofitting initiatives would assist organisations in managing upfront costs, ultimately leading to long-term savings. As a result, Michery believes that EVs will reach a financial tipping point, becoming not only environmentally viable but also the most cost-effective option available.
Michery also identified a trend towards expanded use cases for commercial EVs. He predicts that, while transportation and delivery will likely remain dominant, 2025 will see a diversification of applications. He articulated, “If 2024 was any indication, 2025 will bring new use cases for EVs,” with a focus on specialised sectors such as airport shuttles, university campus logistics, and refrigerated delivery services. Airports are expected to adopt electric cargo vans for quieter, cleaner transit, while universities may electrify their logistics in alignment with sustainability initiatives. Innovations in temperature-controlled EVs will further enhance the efficiency of the cold-chain logistics sector.
Additionally, Michery pointed to significant advancements in battery technology expected for 2025. He remarked, “EV batteries are poised for immense improvement in the coming year.” With solid-state polymer batteries currently undergoing road testing, these innovations promise a considerable increase in battery lifespan, range, and energy efficiency, thereby improving the competitiveness of EVs against traditional internal combustion vehicles. He concluded that better range and more efficient energy consumption would lead to reduced maintenance costs for fleet operators.
Overall, the outlook for Mullen Automotive and the EV market as a whole appears optimistic, with technological advancements and changing business practices anticipated to drive widespread adoption of electric vehicles in the coming year.
Source: Noah Wire Services