Mullen Hires Donald Borthwick as Vice President of Commercial Sales; Previously Head of Western Region for Ford Commercial Sales

Rhea-AI Summary

Mullen Automotive has appointed Donald Borthwick as Vice President of Commercial Sales, bringing over 25 years of experience from Ford. Borthwick's track record includes an 18% increase in commercial vehicle sales and strong relationships with key commercial accounts. His leadership is expected to enhance Mullen’s position in the commercial EV market. Mullen, which focuses on developing affordable electric vehicles entirely in the U.S., aims to deliver its first crossover, the Mullen FIVE, in 2024. This strategic hire is part of Mullen's broader efforts to expand its market presence.

Positive

• Appointment of Donald Borthwick as VP of Commercial Sales, expected to strengthen leadership in the commercial EV sector.
• Borthwick's proven sales record and experience with large commercial customers could facilitate growth and partnerships.

Negative

• Reliance on Borthwick's success to deliver results may pose risks if market expectations aren't met.
• Concerns about continuity and integration issues from hiring a new key executive.

Responsible for $3.25 Billion in Annual Sales to Fortune 2000 Corporations in the Western U.S., With Annual Sales Deliveries of 100,000 Vehicles

BREA, Calif., Dec. 08, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today the hiring of Donald Borthwick as its Vice President of Commercial Sales.

Borthwick, with over 25 years leading commercial vehicle sales for Ford, will spearhead Mullen’s commercial vehicle sales for the U.S. His previous accomplishments with Ford include:

• Grew west region commercial vehicle sales 18% (2008 – 2021), achieving regional volume and margin leadership annually
• Acquired and developed strategic relationships with key, high-volume accounts across consumer retail, food service and package delivery
• Secured primary vehicle supplier relationship with leading last mile delivery company, growing account to be Ford’s second largest commercial customer
• Cultivated early EV adopter customers which resulted in strategic early-stage EV system-fill orders (2022)

“Don is a highly skilled and respected sales leader and will play a key role in establishing Mullen as a leader in the commercial EV category,” said David Michery, CEO and chairman of Mullen Automotive.

Borthwick will be established out of the recently opened Mullen Tech Center, located in Troy, Michigan.

“Don’s impressive track record and success in partnering with large commercial customers make him a perfect selection to lead our commercial sales team,” said John Schwegman, Chief Commercial Officer for Mullen Automotive.

About Mullen

Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of premium electric vehicles (EVs) that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen Commercial Class 1-6 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and commercial offerings. The Mullen FIVE, the Company's first electric crossover, is slated for delivery in 2024 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. 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 Electric Last Mile Solutions' (“ELMS”) assets including IP and a 650,000 square foot plant in Mishawaka, Indiana.

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 appointment of Donald Borthwick will be beneficial to the Company; (ii) whether the Company will deliver its vehicles within the slated timelines; (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

FAQ

Who is Donald Borthwick and what is his role at Mullen Automotive?

Donald Borthwick is the newly appointed Vice President of Commercial Sales at Mullen Automotive, responsible for leading the company's commercial vehicle sales efforts in the U.S.

What experience does Donald Borthwick bring to Mullen Automotive?

Borthwick has over 25 years of experience in commercial vehicle sales, predominantly with Ford, where he achieved significant sales growth and built strong customer relationships.

How will Borthwick's appointment impact Mullen Automotive?

His appointment is expected to enhance Mullen's presence in the commercial EV market and strengthen relationships with large commercial customers.

What is Mullen Automotive's plan for EV sales?

Mullen plans to deliver its first electric crossover, the Mullen FIVE, in 2024 and aims to grow its sales within the commercial vehicle sector.

What challenges could Mullen Automotive face with this leadership change?

Potential challenges include the integration of Borthwick into the company and the risk that market expectations may not align with actual sales performance.