Mullen Automotive Announces It Now Owns Tunica, Mississippi, EV Assembly Plant Free and Clear
Mullen Automotive (NASDAQ: MULN) has successfully purchased the Tunica, Mississippi Advanced Manufacturing and Engineering Center (AMEC) without debt. This facility will support the production of class 1 and class 2 EV cargo vans and the Mullen FIVE EV Crossover. A hiring ramp-up is underway to fill skilled trades and support staff positions as part of the preproduction phase. Mullen plans to debut the FIVE model at the Los Angeles International Auto Show on November 17, 2021. The total land available at AMEC exceeds 100 acres, with plans for extensive manufacturing space enhancements.
- Acquisition of Tunica, Mississippi facility completed without debt.
- Hiring ramp-up initiated for skilled trades and support staff.
- Plans for 1.2 million square feet expansion at AMEC to support EV production.
- Upcoming debut of the Mullen FIVE at LA Auto Show on November 17, 2021.
- None.
Important milestone in the company as the hiring ramp-up begins for skill trades and support staff
BREA, Calif., Nov. 15, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, is pleased to announce today that the company closed purchase of the Tunica, Mississippi, Advanced Manufacturing and Engineering Center (AMEC) without any debt and will begin ramp-up of hiring for the initial set of skilled trades and support staff. AMEC is in Robinsonville, Mississippi, which is located in Tunica County, and approximately 40 miles south of Memphis, Tennessee.
Mullen’s previously announced plans on Nov. 5 to build out another 1.2 million square feet of manufacturing space to support class 1 and class 2 EV cargo vans and the Mullen FIVE EV Crossover at AMEC. The facility currently occupies 124,000 square feet of manufacturing space. The total available land on the property is over 100 acres. On the expanded site, Mullen plans to build a body shop, fully automated paint shop and a general assembly shop.
Mullen’s commitment to the facility is strong and growing with hiring ramp-up now beginning for initial workers to support the initial preproduction build of class 1 and class 2 EV Cargo Vans.
“This is a milestone for Mullen,” stated David Michery, CEO and chairman of Mullen Automotive. “We now own this facility free and clear, with no associated debt or financial obligations on the property. AMEC is a tremendous asset for the company, and we are proud to begin hiring and build-out of the Tunica facility.”
Mullen will debut to the world, for the first time, the FIVE EV Crossover on Nov. 17, 2021, at the Los Angeles International Auto Show (LAIAS). The FIVE will debut in the South Hall on Day One of international media and press days. The FIVE will continue on display in the South Hall during the consumer days of the show, Nov. 19-28, 2021. Mullen will display multiple variants of the FIVE model while also showcasing powertrain, battery and charging technology.
The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is “Strikingly DifferentTM” and exciting to experience in person. Learn more about the Mullen FIVE at MullenUSA.com.
About Mullen
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.
Forward-Looking Statements
This press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions, as well as statements in future tense, often signify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the reverse merger, the Nasdaq approval process and proposed debut date of the Mullen FIVE (formerly MX-05) midsize crossover. These forward-looking statements are, by their nature, subject to significant risks and uncertainties.
Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including factors beyond the Company's control. As a result of these and other risks, uncertainties and assumptions, forward-looking events and circumstances discussed herein might not occur in the way the Company expects or at all. Accordingly, readers should not place reliance on any forward-looking information or statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. All forward-looking statements herein are qualified by reference to the cautionary statements set forth in this section.
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
For more information, please visit https://www.mullenusa.com/.
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InvestorWire (IW)
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FAQ
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