MULN - What's Going On With EV-Maker Mullen Automotive's Stock? | Benzinga
Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher Wednesday. The company announced the first phase completion of battery line integration at its high energy facility on Monday.
The Details:
Mullen said the phase one project culminated in the successful startup, debugging, and early-stage commissioning of the initial two battery assembly lines. Production line start is currently targeted for early 2025 and at volume production, Mullen expects to hire over 200 people for both battery production and operational support.
“Our new battery assembly plant is not just an investment in Mullen Automotive’s future, but also a testament to our commitment towards U.S. battery production,” said David Michery, CEO of Mullen Automotive. “Battery packs are a critical part of our supply chain as it strengthens our market position and supports the transition to American-made battery components.”
Last week, Mullen announced the production of its 500th commercial electric vehicle.
"We have increased requests for our vehicles ...