MULN - InvestorNewsBreaks - Mullen Automotive Inc. (NASDAQ: MULN) Announces Delivery of 63 Additional Class 3 Vehicles to RMA Group
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has delivered 63 Class 3 vehicles to the Randy Marion Automotive Group (“RMA”) and has invoiced RMA for $3,969,000. This shipment brings the total delivered EVs to 121, valued at more than $7.5 million, with plans to deliver 150 vehicles total by the end of the year. These vehicles are part of a purchase order placed by RMA earlier this year for 1,000 vehicles in all, with the first vehicles shipped in September. Mullen expects to deliver the majority of the vehicles in 2024. The company’s Tunica, Mississippi-based plant is slated to produce 150 vehicles in 2023, with a 3,000-vehicle capacity moving forward into the new year. The Mississippi plant will manufacture and assemble the Mullen ONE, Class 1 EV cargo van and the Class 3 EV cab chassis trucks. According to the company, the All-Electric Mullen THREE is a Class 3 low cab forward EV truck designed for a 125-mile range and featuring a 5,000-plus-pound payload. The vehicle is specifically built for urban last-mile delivery and can be easily upfit to meet a variety of vocational needs from last-mile delivery, construction, landscaping, catering and more. “We are laser-focused on hitting our commitment to deliver 150 Mullen THREEs by end of this year,” said Mullen Automotive CEO and chair David Michery in the press release.
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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-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 of all 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.
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