Mullen Announces Hiring of Former European Manheim and Copart Executive, Alain Van Munster, to Lead Europe Sales Efforts

Rhea-AI Summary

Mullen Automotive has announced the hiring of Alain Van Munster as the new VP of Sales for Europe, Middle East, and Africa (EMEA). Alain, who has over 25 years of experience in the automotive and fleet industries, will lead Mullen's commercial electric vehicle (EV) sales efforts in Europe.

Mullen has commenced its European sales with an initial order of 93 EVs. This includes 40 all-electric Mullen-GO urban delivery vehicles for GAMA in Serbia and 53 commercial vans and trucks for Antidoto SA in Switzerland. These developments are part of Mullen's strategy to capture a growing share of the European EV market.

CEO David Michery highlighted the significant growth potential in Europe, emphasizing Alain's expertise in the industry as important for driving this expansion.

Mullen's recent agreements with Antidoto SA and GAMA illustrate the increasing demand for its commercial EVs in Europe and mark the beginning of its fleet sales across the continent.

Positive

• Alain Van Munster brings over 25 years of experience in the automotive industry.
• First European orders include 93 EVs, showing initial market traction.
• 40 electric delivery vehicles ordered by GAMA in Serbia.
• 53 commercial vans and trucks ordered by Antidoto SA in Switzerland.
• New distributor, GAMA, will offer Mullen’s full commercial EV lineup in the Balkans.
• Strong growth potential identified in the European market.

Negative

• Initial order size of 93 EVs may be viewed as modest in scale.
• Operational and logistical challenges in expanding across multiple European regions.
• Potential risks with new market entry and competition in the European EV market.

Company continues European expansion for commercial electric vehicle sales; new VP of Sales for Europe, Middle East and Africa appointed to oversee EMEA markets

First European orders include an initial 93 EVs, including 40 all-electric Mullen-GO urban delivery vehicles to GAMA in Serbia and 53 commercial vans and trucks for Antidoto SA in Switzerland

BREA, Calif., May 31, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces a new key hire in support of its European commercial electric vehicles sales operations, in a move to solidify its position to capture a growing share of the European EV market for commercial applications.

To spearhead its European expansion, Mullen has appointed Alain Van Munster as its new VP Europe Middle East and Africa (“EMEA”). Alain brings a wealth of experience to the role, having spent over 25 years in the automotive and fleet industries across Europe, Asia and South America, including positions with Copart and Manheim.

“Europe presents a tremendous opportunity for our commercial vehicles and positions us for significant growth,” said David Michery, CEO and chairman of Mullen Automotive. “Alain’s proven track record in the automotive industry and understanding of European markets will be instrumental in driving our expansion.”

Mullen recently announced a new commercial EV fleet order for 40 all-electric Mullen-GO urban delivery vehicles with Switzerland-based Antidoto SA, a commercial upfitter whose key focus is on-demand food delivery companies. Mullen also recently announced a new European distributor, GAMA, to offer Mullen’s full commercial EV lineup in the Balkans Region, which includes Bosnia Herzegovina, Serbia, Montenegro, Croatia, Slovenia, Macedonia, Albania, Greece and Bulgaria. GAMA’s initial vehicle order includes 53 commercial EVs, consisting of urban delivery vehicles and commercial vans and trucks. These milestones signify the growing demand for Mullen's EVs in Europe and pave the way for further fleet sales across the continent.

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 $7,500 per vehicle. 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. Recently CARB issued HVIP approval on the Mullen THREE, Class 3 EV truck, providing a rebate of up to $45,000 at time of vehicle purchase. The Company has also recently expanded its commercial dealer network with the addition of Pritchard EV and National Auto Fleet Group, providing sales and service coverage in key Midwest and West Coast markets. The Company also recently announced Foreign Trade Zone (“FTZ”) status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. FTZ approval provides a number of benefits, including deferment of duties owed and elimination of duties on exported vehicles.

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 referenced purchase orders will be successfully executed, whether new key hires will meet expectations, achieve expected sales goals and whether the Company will be successful in meeting its growth and other objectives in the European and international markets.  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:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What recent executive appointment did Mullen Automotive announce?

Mullen Automotive announced the hiring of Alain Van Munster as the new VP of Sales for Europe, Middle East, and Africa (EMEA).

What is the significance of Alain Van Munster joining Mullen?

Alain Van Munster brings over 25 years of automotive industry experience, which is expected to drive Mullen's expansion in the European commercial EV market.

What are the initial vehicle orders Mullen received in Europe?

Mullen received an initial order for 93 EVs, including 40 all-electric Mullen-GO urban delivery vehicles for GAMA in Serbia and 53 commercial vans and trucks for Antidoto SA in Switzerland.

Which regions will the new distributor GAMA cover for Mullen's commercial EV lineup?

GAMA will cover the Balkans Region, including Bosnia Herzegovina, Serbia, Montenegro, Croatia, Slovenia, Macedonia, Albania, Greece, and Bulgaria.

What is Mullen Automotive's stock symbol?

Mullen Automotive's stock symbol is NASDAQ: MULN.