MULN - InvestorNewsBreaks - Mullen Automotive Inc. (NASDAQ: MULN) Announces Milestone: First EV Mullen THREE Truck Rolls Off Assembly Line
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has reached a milestone: the company’s first production vehicle, the Mullen THREE, has rolled off the assembly line. The Class 3 EV truck is being manufactured at Mullen’s commercial vehicle assembly facility located in Tunica, Mississippi. According to the announcement, the company anticipates increasing the production rate of the Mullen THREE as the year progresses. The company noted that when full production has been achieved, Class 3 production at its Tunica facility should reach 3,000 vehicles annually per shift. Mullen plans to add a second shift for Class 3 production once EV adoption rates increase, bringing total production capacity to 6,000 vehicles per year. Mullen’s strategic production plan also includes the production testing and launch of the Mullen ONE, its Class 1 EV Cargo Van; the manufacture of this vehicle will also take place in Tunica, with deliveries on customer orders for both commercial Class 1 and Class 3 vehicles expected by year end. According to the company, Mullen has received $79 million in purchase orders for the Mullen THREE, Class 3 EV trucks. The company’s Tunica facility is more than 120,000 square feet, is situated on more than 100 acres, and is near major rail lines, interstates, Mississippi river systems, and air logistics. “We have been true to our commercial Class 3 vehicle production commitments and have now achieved a significant milestone with the first trucks rolling off the line,” 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 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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