Cashflow on Wheels, a Multistate FedEx and Amazon DSP Consolidator, Purchases 20 Mullen THREE Class 3s

Rhea-AI Summary

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.

Positive

• Secured $1.4 million order for 20 Mullen THREE vehicles
• Customer reports $500 weekly cost savings per route with EVs
• Established partnership with major logistics provider serving FedEx and Amazon
• Immediate revenue generation with May delivery timeline

Negative

• Relatively small initial order size of 20 vehicles

Insights

Financial Analyst

Mullen secured a $1.4M order for 20 electric delivery vehicles, demonstrating commercial validation with measurable customer cost savings.

Mullen Automotive has secured a $1.4 million commercial order for 20 Mullen THREE Class 3 electric vehicles from Cashflow on Wheels, a logistics company serving FedEx and Amazon delivery routes. The vehicles will be delivered in May for immediate deployment in Texas and Georgia, showing Mullen's ability to fulfill orders on a near-term timeline.

While modest relative to Mullen's $1.16 billion market cap, this deal provides concrete validation of market interest in Mullen's commercial EV offerings. The sales price of approximately $70,000 per vehicle positions Mullen in the medium-duty commercial EV segment.

Particularly noteworthy is the customer's explicit statement about achieving over $500 in savings per route per week. This quantifiable economic benefit provides a clear value proposition that Mullen can leverage with other potential fleet customers considering electrification. For operators evaluating total cost of ownership, this savings benchmark helps justify the higher upfront investment.

The deal's structure - working through dealer Pritchard Automotive to serve a logistics provider with major clients like FedEx and Amazon - demonstrates Mullen's commercial distribution strategy and positions them within the rapidly growing last-mile delivery electrification market.

Logistics Expert

Cashflow on Wheels' EV adoption demonstrates significant operational savings for delivery fleets, potentially influencing broader logistics industry adoption.

This Mullen THREE order represents a strategic move by Cashflow on Wheels to capitalize on electric vehicles' economic advantages in the last-mile delivery sector. Their reported savings of $500 per route weekly demonstrates the compelling financial case for EVs in delivery applications with predictable routes and return-to-base operations.

The deployment across FedEx routes in both Texas and Georgia indicates confidence in the vehicles' capabilities across different operational environments. For logistics operators, the consistent route patterns of last-mile delivery mitigate range concerns that might affect other commercial applications.

As a consolidator of FedEx and Amazon delivery service providers (DSPs), Cashflow on Wheels' explicit commitment to "transitioning traditional fleets to advanced EV solutions" positions them as an early adopter in the logistics electrification movement. Their focus on reducing total cost of operations through EVs could influence other DSPs within these massive delivery networks.

The CEO's statement about reinvesting these operational savings into continued growth suggests a virtuous cycle where EV adoption fuels business expansion. For the broader logistics industry, this order demonstrates how third-party delivery providers can leverage electric vehicles to improve economics while meeting the sustainability expectations of major shipping partners.

First 20 vehicles will be delivered in May to Cashflow on Wheels for FedEx routes in Texas and Georgia

Initial deal valued at approximately $1.4 million

Cashflow on Wheels is a leading logistics company with a focus on transitioning FedEx and Amazon last-mile local delivery to electric vehicles

BREA, Calif., April 21, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today a Class 3 vehicle order with Cashflow on Wheels. The order includes 20 all electric Mullen THREE’s, with a retail value of approximately $1.4 million. Cashflow on Wheels is a leading logistics company based in Houston, Texas, with a focus on last-mile delivery, local and long-distance trucking and transportation solutions. The milestone vehicle order will be fulfilled by Mullen dealer, Pritchard Automotive. 

Cashflow on Wheels’ strength is in bringing new efficiencies and sustainability to last-mile delivery for FedEx and Amazon. The addition of the Mullen THREE to their fleet underscores a commitment to transitioning traditional fleets to advanced EV solutions and to their DSPs reducing their total cost of operations.  

"We have been testing EVs across our routes and have decided to transition our fleet, as we’ve seen measurable savings of over $500 per route per week, which allows us to reinvest in our continued growth,” said Kendrick Edwards, CEO, Cashflow on Wheels. “We are confident that adopting EVs will not only reduce costs but also provide the scalability needed to support our future expansion."

"Cashflow on Wheel’s order reflects the growing demand for environmentally friendly commercial vehicles,” said David Michery, CEO and chairman of Mullen Automotive. “The Mullen THREE is a perfect fit to their diverse customer base, including FedEx and Amazon, from last-mile delivery to urban logistics.”

About Cashflow on Wheels
Founded in 2023, Cashflow on Wheels is a leading logistics company based in Houston, Texas, with a focus on last-mile local delivery, local delivery and long-distance trucking and transportation solutions.  Cashflow on Wheels strength is in bringing new efficiencies and sustainability to last-mile delivery for FedEx and Amazon. Central to Cashflow on Wheels' philosophy is job creation and creating economic growth opportunities for its drivers and employees.

About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (“CARB”) and EPA certified and available for sale in the U.S. The Company has also recently expanded its commercial dealer network to seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England and Mid-Atlantic markets.
On Sept. 7, 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has achieved numerous milestones including its all-electric B4, Class 4 truck production start, which launched on Sept. 16, 2024, and the development of a world-class dealer and service network with over 50 locations across the United States.

To learn more about the Company, visit www.MullenUSA.com.

Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether the expected timelines for vehicle delivery to Cashflow on Wheels will be met, whether any additional vehicles will be ordered by Cashflow on Wheels, how long governmental incentives for electric vehicles will remain in place, and the resultant selling prices of Mullen vehicles. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.

Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
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FAQ

What is the value of Mullen's recent order from Cashflow on Wheels for MULN stock?

The order is valued at approximately $1.4 million for 20 Mullen THREE Class 3 electric vehicles.

When will Mullen (MULN) deliver the electric vehicles to Cashflow on Wheels?

The first 20 Mullen THREE vehicles will be delivered in May for FedEx routes in Texas and Georgia.

How much cost savings do Mullen THREE vehicles provide per route?

According to Cashflow on Wheels, the EVs demonstrate measurable savings of over $500 per route per week.

Which major delivery companies will use Mullen's electric vehicles through Cashflow on Wheels?

The Mullen THREE vehicles will be used for FedEx and Amazon delivery service provider (DSP) routes.