MULN - Mullen gains distribution rights for Qiantu K50/DragonFLY

2023-03-20 09:11:26 ET

• Mullen Automotive ( NASDAQ: MULN ) shares popped 5% premarket on Monday after the automotive company won license for IP and exclusive distribution rights in North and South American markets for the Qiantu K50/DragonFLY.
• "This agreement with Qiantu is an important milestone for the company, said Mullen’s CEO and Chairman David Michery, adding that "since day one, we have received overwhelming positive feedback for this vehicle, including our original debut at the 2019 New York Auto Show and the Indy 500 in May 2019. We are excited to start the GT and GTRS programs on March 20, 2023."
• Mullen ( MULN ) will work to re-engineer the product to meet U.S. standards with final assembly in Mishawka, Indiana. The EV supercar will be rebranded and refreshed to sell under the Mullen GT & GTRS brands with expected performance specs of 0-60 MPH in 1.95 seconds and a top speed over 200 MPH.

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