Mullen and Randy Marion Deliver First Class 1 EV Cargo Vans to UNC Charlotte, Forthcoming Announcement of Additional Customer Class 1 Van Deliveries to Follow
Mullen Automotive has successfully delivered its Class 1 EV cargo vans to the University of North Carolina at Charlotte (UNC Charlotte) as part of an order fulfilled through Randy Marion Automotive Group. The initial order consists of seven vehicles, with plans for more deliveries across the university's 16 campuses over the next year. The vans will support various campus operations, promoting sustainability and reducing carbon emissions. Following a recent trade show, Mullen aims to expand its commercial EV offerings, highlighting the lower total cost of ownership as a key selling point for potential customers.
- Initial delivery of seven Class 1 EV cargo vans to UNC Charlotte, indicating successful order fulfillment.
- Commitment to sustainability by UNC Charlotte aligns with Mullen's electric vehicle offerings.
- Positive momentum following a commercial trade show, suggesting increased market interest.
- Uncertain future demand from UNC Charlotte for additional vehicles.
- Risks related to meeting anticipated vehicle launches by 2023 timelines.
- Potential challenges in securing additional financing and maintaining contracts with suppliers.
EV cargo vans delivered to University of North Carolina at Charlotte on March 29, 2023, with vehicle orders fulfilled through Randy Marion Automotive, a distributor of Mullen’s commercial EVs. Initial order is for seven vehicles, with subsequent future deliveries expected across UNC’s 16 campuses over the next 12 months.
BREA, Calif., March 31, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces that Class 1 EV cargo vans have been delivered to the University of North Carolina at Charlotte (“UNC Charlotte”), with vehicle order fulfillment completed by Randy Marion Automotive Group.
UNC Charlotte, North Carolina’s urban research university founded in 1946, purchased Mullen Class 1 EV cargo vans for use across its 1,000-acre campus, and more than 29,500 students. The vans will be used for a variety of university use cases, including campus delivery and facility services.
“Following our first commercial trade show, the National Truck and Equipment Work Truck Week in Indianapolis earlier this month, it is exciting to continue our momentum with the Mullen commercial lineup and celebrate our first fleet deliveries. These
"UNC Charlotte is committed to helping create a more sustainable environment, including developing and implementing a comprehensive plan designed to reduce carbon emissions,” said T. J. Woods, the university's transportation, warehouse and logistics manager.
“UNC Charlotte represents the first of many customers that have expressed interest in Mullen’s commercial product lineup. The lower total cost of ownership and reduced emissions of Mullen EVs will make switching to electric an easy purchase decision for many customers,” said Brad Sigmon, manager of commercial sales at Randy Marion Automotive.
“We are proud to announce delivery of Class 1 EV cargo vans to the University of North Carolina at Charlotte and look forward to the continued adoption of EVs in place of standard ICE vehicles,” said David Michery, CEO and chairman of Mullen Automotive.
About Mullen
Mullen Automotive (NASDAQ: MULN) 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, Mullen I-GO Commercial Urban Delivery EV, 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 of 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.
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: (i) whether the commercial product launches contemplated for 2023 will materialize within the slated timelines; (ii) whether UNC will be satisfied with vehicles delivered and whether UNC will purchase any additional vehicles for its sixteen campuses or otherwise; (iii) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (iv) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (v) Mullen’s ability to successfully expand in existing markets and enter new markets; (vi) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (vii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (viii) the ability to attract and retain qualified employees and key personnel; (ix) adverse effects of increased competition on Mullen’s business; (x) changes in government licensing and regulation that may adversely affect Mullen’s business; (xi) the risk that changes in consumer behavior could adversely affect Mullen’s business; (xii) Mullen’s ability to protect its intellectual property; and (xiii) 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:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
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