Mullen Automotive Inc Stock Price, News & Analysis

Mullen Automotive (NASDAQ: MULN) has successfully resolved legal claims with Bollinger Motors' founder Robert Bollinger, increasing its ownership stake to 95% and bringing Bollinger Motors out of receivership. David Michery, CEO of Mullen, has assumed the role of CEO and chairman at Bollinger Motors. During the receivership period, Bollinger continued selling and servicing its B4 all-electric commercial trucks. The B4 Chassis Cab, a Class 4 commercial EV with a 158-kwh battery pack, remains available for order through Bollinger's national dealer network. The company is also developing the B5 Class 5 electric commercial truck, scheduled for launch in 2026. The resolution allows both companies to focus on their shared vision of fleet electrification and sustainable transportation solutions.

Mullen Automotive (NASDAQ: MULN) announces its eligibility for the ComEd Business & Public Sector EV Rebate Program in Illinois, offering significant incentives for commercial electric vehicles. The Mullen ONE Class 1 EV cargo van qualifies for up to $7,500 in ComEd incentives, which can be combined with Federal Tax Credits for potential savings of up to $15,000 per vehicle. The program, running through 2025, aims to distribute over $70 million in rebates for electric vehicles. Mullen's commercial lineup includes the Class 1 ONE cargo van and Class 3 THREE cab chassis truck, both fully compliant with federal safety standards and emissions regulations. The vehicles are available through authorized dealers Pritchard EV and Range Truck Group, who can process the ComEd rebate at point of sale.

Mullen Automotive announces the launch of its ultra-high-performance FIVE RS EV Crossover in Germany by December 2025, followed by expansion to other EU countries, UAE, and South Africa in 2026. The vehicle boasts impressive specifications including 1,100+ horsepower, 200 mph top speed, and 0-60 mph acceleration in under 2 seconds. The company has partnered with Faissner Petermeier Fahrzeugtechnik AG (FPF), a German automotive engineering firm with experience working with prestigious brands like BMW and Piech Automotive. Following successful 800V battery testing in Munich, Mullen is proceeding with on-road testing for final validation. The company plans to enter the U.S. market after establishing success in European markets. The FIVE RS features advanced technology including 800-volt architecture, all-wheel drive, and a two-speed gearbox.

Mullen Automotive has acquired an additional 21% stake in Bollinger Motors, increasing its total ownership to 95% and eliminating significant debt. The strategic transaction increases shareholder equity by approximately $3.5 million and resolves recent claims that had led to court-ordered receivership. Bollinger will continue operating as a majority-owned subsidiary, maintaining its brand identity while receiving full financial backing from Mullen for sales, service, and warranty coverage. The Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, features a 158-kWh battery pack, 185-mile range, and 7,325-pound payload capacity. The integration aims to create synergies between both companies, with Bollinger focusing on B4 platform development while leveraging Mullen's resources.

Mullen Automotive (NASDAQ: MULN) has announced a 1-for-100 reverse stock split effective June 2, 2025, at 12:01 a.m. Eastern Time. The primary goal is to comply with Nasdaq's $1.00 minimum bid price requirement for continued listing. The company's stockholders previously approved a reverse split range of 1-for-2 to 1-for-250 at a Special Meeting on May 21, 2025.

The reverse split will automatically convert every 100 current shares into one new share, reducing the outstanding Common Stock from approximately 80 million to 800 thousand shares. The stock will continue trading under the MULN symbol with a new CUSIP number (62526P802). Proportional adjustments will be made to equity awards, warrants, convertible notes, and preferred stock conversion prices. No fractional shares will be issued, with all fractions rounded up to the nearest whole share.

Stockholders will not need to take any action, as positions will be automatically adjusted through their brokers or the transfer agent, Continental Stock Transfer & Trust Company.

Mullen Automotive (NASDAQ: MULN) reported financial results for Q2 2025 with revenue of $5M, significantly outperforming Q2 2024's $33,000. The company's net loss decreased to $47.1M from $132.4M in the comparable quarter. For the six months ended March 31, 2025, total revenue reached $7.9M, with 69 vehicles invoiced valued at $5.7M. Cash spend reduced by 56.6% to $52.4M from $120.9M year-over-year. Notable developments include commercial vehicle deliveries to Cashflow on Wheels and partnerships with EO Charging. However, after the reporting period, Bollinger Motors, a majority-owned subsidiary, entered court-appointed receivership following a legal complaint regarding a $10M secured promissory note. The company's cash position stood at $2.3M as of March 31, 2025, with negative working capital of $156.1M.

Mullen Automotive (NASDAQ: MULN) has reached a settlement agreement with GEM Group on May 9, 2025, following four years of litigation. Under the agreement, GEM has been granted a 55-day due diligence period to evaluate the potential transfer of Mullen's Mishawaka assets as complete satisfaction of the judgment. During this period, which can be extended by GEM, all collection activities have been suspended.

While this settlement process is ongoing, Mullen continues to focus on expanding its manufacturing capabilities at its Tunica, Mississippi facility to meet current and future demand for its electric vehicle product lines. CEO David Michery expressed optimism about the resolution and the company's growth prospects for the remainder of 2025 and beyond.

Mullen Automotive's (NASDAQ: MULN) subsidiary, Bollinger Motors, has delivered its first B4 Class 4 electric truck to The Lower East Side Ecology Center in New York City. The all-electric B4, featuring a 158-kwh battery pack, offers a 185-mile range, 46-foot turning radius, and 7,325-pound payload capacity. The vehicle, upfitted with a 16-foot Morgan Dry Box and 2,200-pound power lift gate, will support various environmental initiatives, including NYC's longest-running compost program. The delivery was funded by the New York City Council and marks a significant step in the Center's commitment to sustainability.

Mullen Automotive (NASDAQ: MULN) has secured a $1.4 million order for 20 all-electric Mullen THREE Class 3 vehicles from Cashflow on Wheels, a Houston-based logistics company. The vehicles will be delivered in May for FedEx routes in Texas and Georgia through Mullen dealer Pritchard Automotive.

Cashflow on Wheels, which specializes in last-mile delivery solutions for FedEx and Amazon, reports cost savings of over $500 per route per week during their EV testing phase. The company plans to transition their traditional fleet to electric vehicles to improve operational efficiency and support future expansion.