Mullen Announces European Distributor, GAMA, Purchases 29 Mullen GOs for Balkans Region
Mullen Automotive Inc. (NASDAQ: MULN) has announced a significant order from GAMA, one of its European distributors. GAMA has purchased 29 Mullen GO vehicles, valued at $304,000 USD, with shipment planned for early August 2024. This order is part of a larger 53-unit commercial vehicle order for the Balkans Region.
GAMA, recently announced as Mullen's distributor for southeastern Europe, covers nine countries in the Balkans. They have extensive experience in the EV market, having distributed over 300 vehicles in the past year. The Mullen GO, designed for urban delivery in congested European cities, is EU standard homologated and certified for European sale.
This development marks Mullen's expansion into the European market, with GAMA reporting strong interest in Mullen's commercial EVs. The order includes a 15% upfront deposit, with full payment due upon shipment.
Mullen Automotive Inc. (NASDAQ: MULN) ha annunciato un ordine significativo da GAMA, uno dei suoi distributori europei. GAMA ha acquistato 29 veicoli Mullen GO, del valore di 304.000 USD, con spedizione prevista per l'inizio di agosto 2024. Questo ordine fa parte di un ordine commerciale più ampio di 53 unità per la Regione dei Balcani.
GAMA, recentemente annunciato come distributore di Mullen per l'Europa sudorientale, copre nove paesi nei Balcani. Hanno una vasta esperienza nel mercato dei veicoli elettrici, avendo distribuito oltre 300 veicoli nell'ultimo anno. Il Mullen GO, progettato per la consegna urbana nelle congestionate città europee, è omologato e certificato secondo gli standard dell'UE per la vendita in Europa.
Questo sviluppo segna l'espansione di Mullen nel mercato europeo, con GAMA che riporta un forte interesse per i veicoli commerciali elettrici di Mullen. L'ordine include un deposito iniziale del 15%, con il pagamento completo dovuto al momento della spedizione.
Mullen Automotive Inc. (NASDAQ: MULN) ha anunciado un pedido significativo de GAMA, uno de sus distribuidores europeos. GAMA ha adquirido 29 vehículos Mullen GO, valorados en 304.000 USD, con envío programado para principios de agosto de 2024. Este pedido forma parte de un pedido más grande de 53 unidades de vehículos comerciales para la Región de los Balcanes.
GAMA, que fue anunciada recientemente como distribuidor de Mullen para el sureste de Europa, cubre nueve países en los Balcanes. Cuentan con una vasta experiencia en el mercado de vehículos eléctricos, habiendo distribuido más de 300 vehículos en el último año. El Mullen GO, diseñado para la entrega urbana en ciudades europeas congestionadas, está homologado y certificado según los estándares de la UE para la venta en Europa.
Este desarrollo marca la expansión de Mullen en el mercado europeo, con GAMA informando un fuerte interés en los vehículos comerciales eléctricos de Mullen. El pedido incluye un depósito inicial del 15%, con el pago total debido en el momento del envío.
Mullen Automotive Inc. (NASDAQ: MULN)가 유럽 유통업체 중 하나인 GAMA로부터 중요한 주문을 발표했습니다. GAMA는 29대의 Mullen GO 차량을 구매했으며, 총 금액은 304,000 USD입니다. 배송은 2024년 8월 초로 예정되어 있습니다. 이 주문은 발칸 지역을 위한 53대의 상업용 차량 주문의 일부입니다.
최근 Mullen의 동남유럽 유통업체로 발표된 GAMA는 발칸의 9개 국가를 커버합니다. 이들은 지난 1년간 300대 이상의 차량을 유통한 경험이 있습니다. Mullen GO는 혼잡한 유럽 도시에 맞춰 도시 배송을 위해 설계되었으며, EU 기준에 따라 homologated 및 인증을 받았습니다.
이번 발전은 Mullen의 유럽 시장 확장을 의미하며, GAMA는 Mullen의 상업용 전기차에 대한 강한 관심을 보고하고 있습니다. 이 주문에는 15%의 선불 보증금이 포함되며, 전체 금액은 배송 시 점검하도록 되어 있습니다.
Mullen Automotive Inc. (NASDAQ: MULN) a annoncé une commande importante de GAMA, l'un de ses distributeurs européens. GAMA a acheté 29 véhicules Mullen GO, d'une valeur de 304.000 USD, avec une expédition prévue pour début août 2024. Cette commande fait partie d'une commande commerciale plus large de 53 unités pour la région des Balkans.
GAMA, récemment désigné comme distributeur de Mullen pour le sud-est de l'Europe, couvre neuf pays dans les Balkans. Ils disposent d'une vaste expérience sur le marché des véhicules électriques, ayant distribué plus de 300 véhicules au cours de l'année écoulée. Le Mullen GO, conçu pour la livraison urbaine dans des villes européennes congestionnées, est homologué et certifié selon les normes de l'UE pour la vente en Europe.
Ce développement marque l'expansion de Mullen sur le marché européen, GAMA rapportant un vif intérêt pour les véhicules utilitaires électriques de Mullen. La commande inclut un acompte de 15 %, le paiement complet étant dû au moment de l'expédition.
Mullen Automotive Inc. (NASDAQ: MULN) hat eine bedeutende Bestellung von GAMA, einem seiner europäischen Vertriebspartner, angekündigt. GAMA hat 29 Mullen GO Fahrzeuge im Wert von 304.000 USD bestellt, mit einer Lieferung, die für Anfang August 2024 geplant ist. Diese Bestellung ist Teil einer größeren Bestellung von 53 gewerblichen Fahrzeugen für die Balkanregion.
GAMA, die kürzlich als Mullen-Vertriebspartner für Südosteuropa bekannt gegeben wurde, deckt neun Länder auf dem Balkan ab. Sie haben umfangreiche Erfahrung im Markt für Elektrofahrzeuge und haben im letzten Jahr über 300 Fahrzeuge vertrieben. Der Mullen GO, der für städtische Lieferungen in überfüllten europäischen Städten konzipiert wurde, ist nach EU-Standards homologiert und für den europäischen Verkauf zertifiziert.
Diese Entwicklung markiert Mullens Expansion in den europäischen Markt, wobei GAMA von großem Interesse an Mullens gewerblichen Elektrofahrzeugen berichtet. Die Bestellung beinhaltet eine Anzahlung von 15%, wobei die vollständige Zahlung bei Versand fällig wird.
- Secured a $304,000 USD order for 29 Mullen GO vehicles
- Expanded distribution network in southeastern Europe covering 9 countries
- GAMA has extensive EV experience, distributing over 300 vehicles in the past year
- Mullen GO is EU standard homologated and certified for European sale
- 15% deposit received upfront for the order
- None.
The recent order from GAMA for 29 Mullen GOs, valued at $304,000 USD, is a positive indicator of Mullen Automotive's expanding footprint in the European market, specifically in the Balkans region. This order, while relatively small in financial terms, showcases the growing acceptance and demand for Mullen's commercial EVs in new international markets. The fact that GAMA has a well-established network and experience with EVs in the Balkans adds credibility and potential for future orders. For retail investors, this move signifies Mullen's strategic alignment with market trends towards urban EVs, potentially enhancing long-term growth and market penetration.
From a financial perspective, the $304,000 USD order, with 15% paid upfront, signals a modest revenue boost for Mullen Automotive. While this order alone won't significantly impact the company's overall financials, it does provide evidence of tangible revenue streams from international markets. Investors should note that the full payment is expected upon shipment in early August 2024, which could slightly improve Mullen's quarterly revenue figures. However, the broader impact lies in the potential for larger future orders from GAMA and other partners, indicating a positive trajectory for Mullen's financial health if they continue to secure such deals.
The Mullen-GO's design specifically tailored for urban European markets addresses a critical need for compact, efficient delivery vehicles in congested cities. This strategic product positioning could give Mullen a competitive edge in densely populated areas where traditional delivery vehicles face operational challenges. The fact that the Mullen-GO is EU standard homologated and certified means it can be immediately integrated into the market without regulatory delays, further reinforcing the vehicle's market readiness and appeal. For investors, this technical alignment with market demands underscores Mullen’s innovative capabilities and potential for capturing a significant share of the urban EV market.
29-unit Mullen GO order is valued at
BREA, Calif., July 24, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today GAMA, one of Mullen international distributors, has placed an order for 29 Mullen GOs, the Company’s commercial micro urban delivery vehicle. The order is valued at
GAMA was recently announced as one of Mullen’s European distribution partners for southeastern Europe covering the Balkans Region, which includes Bosnia and Herzegovina, Serbia, Montenegro, Croatia, Slovenia, Macedonia, Albania, Greece and Bulgaria. GAMA represents Mullen’s full commercial electric vehicle product line.
GAMA has extensive experience with electric vehicles in the Balkan market and has distributed more than 300 vehicles in the last year including private and municipal sales. GAMA has a strong reputation responding to and winning public tenders for local government opportunities. GAMA’s distribution network includes eight sub dealers in the Balkan Region supporting sales, service and parts operation and is currently building a new facility in Belgrade.
GAMA’s 29-unit Mullen GO order, valued at
“GAMA is seeing strong interest in our commercial EVs and we are delighted to begin vehicle deliveries in the Balkans region,” said David Michery, CEO and chairman of Mullen Automotive. “As highlighted previously, the Mullen GO is the perfect micro urban delivery vehicle for small and congested old world European streets.”
The Mullen-GO is the Company’s urban commercial electric delivery vehicle, which is designed to bridge the gap between the growing demand for quick deliveries and space constraints in dense cities throughout Europe. The commercial EV’s compact design allows it to easily handle the stop/go and weave in/out typical of narrow urban European streets, getting to the customer's door faster, all while decreasing pollution and congestion levels. The Mullen-GO is EU standard homologated, certified, and ready for European sale.
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. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to
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, the timing of shipment and delivery of the ordered vehicles, if GAMA will timely make required deposits and payments due, whether GAMA will order additional vehicles, including the contemplated Mullen ONE and Mullen THREE orders, whether GAMA will be successful in selling Mullen’s vehicles and whether GAMA will get purchase orders for Mullen vehicles from government agencies. Additional examples of such risks and uncertainties include but are not limited to: (i) ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) ability to successfully expand in existing markets and enter new markets; (iv) 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) ability to protect 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:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
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FAQ
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