Mullen, the California-based automotive manufacturer, has announced a new electric vehicle (EV) for the United States market titled the 'Dragonfly sports car.' The Dragonfly is an upgraded version of the 'Qiantu K50,' an electric sports car that launched in China in 2017. When Mullen launched the Qiantu K50, it believed the vehicle was promising for the United States market as well, leading to the Dragonfly's production almost five years later.
In addition to announcing the Dragonfly, Mullen has also announced its intentions to build its own batteries at home in the United States. As opposed to sourcing its batteries from third-party parts manufacturers, in some cases overseas, the automaker has acquired a facility in Tunica, Mississippi, which it will use in conjunction with its facility in Monrovia, to develop its vehicles and batteries.
Image Credit: Mullen
What's Driving This Trend
- Electric Sports Cars
- American car manufacturers are upgrading electric sports cars from China for their domestic markets.
- Homegrown Battery Production
- Automakers are acquiring domestic facilities to produce their own batteries for electric vehicles.
- Vertical Integration
- Car companies are seeking to vertically integrate their supply chains for electric vehicles to increase efficiency and maintain quality control.
Who This Affects Most
- Automotive
- American electric car manufacturers are targeting electric sports cars with upgraded models.
- Battery
- Battery manufacturers for electric vehicles could be impacted by car manufacturers' in-house battery production plans.
- Manufacturing
- The automotive industry's push for vertical integration could lead to innovation opportunities for manufacturers of electric car components and parts.
