HERNDON, VA— Volkswagen AG plans to invest $7.1 billion over the next five years in North America to boost its EV product portfolio, regional R&D and manufacturing capabilities.
Mullen Technologies Inc. is a start-up company that's developing several types of electric vehicles, including a crossover, a sports car and a delivery van. The Brea, CA-based firm is led by an entrepreneur who formerly worked in the entertainment industry as a record producer.