MULN - InvestorNewsBreaks - Mullen Automotive Inc. (NASDAQ: MULN) Hosts Launch Event Marking Class 3 Vehicle Production Success
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, held its first-ever open house at its Tunica manufacturing facility. The event marked the company’s first Class 3 EV trucks rolling off the assembly line. According to the announcement, the event provided attendees with the opportunity to tour the Tunica site, enjoy a company presentation, and test drive MULN’s class 1 and class 3 commercial vehicles. Local county and state leaders, members of the media, investors and customers attended the event. The company anticipates ramping up production of its class 3 vehicles throughout the remainder of this calendar year, with full production capacity currently planned at 3,000 class 3 vehicles annually per shift. The company noted that as EV adoption rates increase, it has the capacity to add a second shift, which will increase capacity of the class 3 EVs to 6,000 total vehicles per year. At the same time, the company is also conducting production testing and launch of the Mullen ONE, class 1 EV Cargo Van at the Tunica plant. Delivery on both vehicles is expected to begin by year end. “Whenever a new vehicle program hits this stage, it’s great that we can bring key people to the plant like we did today with our dealer, Randy Marion, and first customer, MGT, so they feel the excitement firsthand and see the reality that our vehicles are heading their way very soon,” said Mullen Automotive chief commercial sales officer John Schwegman in the press release.
To view the full press release, visit https://ibn.fm/lsPN5
About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover; the Mullen I-GO Commercial Urban Delivery EV; the Mullen commercial class 1–3 EVs; and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and class 4–6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition Electric Last Mile Solutions' (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
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