Mullen Automotive Inc - MULN STOCK NEWS

Welcome to our dedicated page for Mullen Automotive news (Ticker: MULN), a resource for investors and traders seeking the latest updates and insights on Mullen Automotive stock.

Overview

Mullen Automotive Inc is a Southern California-based manufacturer and distributor of commercial electric vehicles (EVs) and advanced energy solutions. Specializing in the design and production of cutting-edge EV trucks and cargo vans, the company delivers innovative mobility solutions tailored for commercial fleets and urban last-mile delivery. With robust capabilities in battery production and digital transformation, Mullen Automotive Inc has positioned itself as a key player in the rapidly evolving landscape of sustainable transportation and commercial EV innovation.

Business Segments and Operations

Mullen Automotive Inc operates through two primary segments, each serving distinct market needs. The Bollinger segment focuses on high-performance commercial trucks that cater to fleets requiring powerful and durable transportation solutions, while the Mullen Commercial segment specializes in vehicles designed for urban logistics, including the Class 1 EV cargo van (Mullen ONE) and the Class 3 EV cab chassis truck (Mullen THREE). The company’s state-of-the-art manufacturing facilities, located in Tunica, Mississippi and Mishawaka, Indiana, underscore its commitment to U.S.-based production and quality control.

Dealer Network: Mullen Automotive Inc has cultivated an extensive dealer network across key regions, ensuring nationwide sales and comprehensive service coverage.
Regulatory Compliance: All vehicles are developed in full compliance with U.S. Federal Motor Vehicle Safety Standards, EPA requirements, and California Air Resources Board (CARB) certifications, ensuring superior safety and environmental performance.

Technological Innovation and Digital Integration

Innovation is at the core of Mullen Automotive Inc's strategy. The company has embraced advanced battery manufacturing technologies by integrating assets from established industry players, thereby enhancing its production capabilities and driving down costs. Moreover, its proprietary digital platform, Carhub, leverages artificial intelligence to provide a seamless and interactive experience for buying, selling, and owning a vehicle. This digital-first approach not only modernizes the consumer experience but also reinforces the company’s reputation as a forward-thinking leader in the commercial EV space.

Market Position and Industry Significance

Mullen Automotive Inc is strategically positioned to meet the growing demand for sustainable commercial transportation solutions. Its product portfolio, which ranges from versatile cargo vans to sophisticated trucks designed for urban logistics, addresses the dynamic needs of commercial fleets and specialized market segments such as home service operations. The company's emphasis on U.S.-based production, strategic partnerships, and adherence to rigorous safety and environmental standards contributes to its competitive edge in the evolving EV market. Through continuous innovation and a focus on operational excellence, Mullen Automotive Inc delivers practical, scalable, and efficient mobility solutions that resonate with both fleet operators and end users.

Expertise and Industry Leadership

Mullen Automotive Inc demonstrates deep industry expertise through its commitment to cutting-edge technology and quality manufacturing. The company’s integrated approach combines advanced production processes with digital innovations, ensuring that every vehicle meets the highest standards of performance, safety, and environmental sustainability. Its strong focus on compliance and quality control builds trust among customers, stakeholders, and industry regulators. As a result, Mullen Automotive Inc not only meets the current demands of the commercial EV market but also sets the benchmark for future advancements in electric mobility.

02/06/2024 09:30 AM

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BOLLINGER MOTORS RECEIVES IRS APPROVAL FOR $40,000 COMMERCIAL EV FEDERAL TAX CREDIT

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Bollinger Motors, Inc. has received IRS approval as a 'qualified manufacturer' for clean vehicle credits under the Inflation Reduction Act of 2022, enabling the Bollinger B4 chassis cab to qualify for a tax credit of up to $40,000 per vehicle. The company is poised for growth and aims to help electrify America's fleets. The B4, with a GVWR of 15,500 pounds, is expected to qualify for the full eligible tax credit. The company has also announced partnerships with Our Next Energy and Roush Industries, with deliveries of the B4 chassis cab expected to begin in the second half of 2024.

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02/06/2024 09:20 AM

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Mullen Announces Bollinger Motors Receives IRS Approval for $40,000 Commercial EV Tax Credit

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Mullen Automotive Inc. announces that Bollinger Motors has received IRS approval as a 'qualified manufacturer' for clean vehicle credits under the Inflation Reduction Act of 2022. This designation enables the Bollinger B4 chassis cab to qualify for a tax credit of up to $40,000 per vehicle, providing an important incentive for customers to replace gas and diesel trucks. The company also anticipates deliveries of the Bollinger B4 chassis cab to begin in the second half of 2024.

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02/05/2024 09:20 AM

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Mullen Is Making Great Strides in the Commercial EV Segment and Development of US-Made Battery Capabilities

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Mullen Automotive Inc. (MULN) is making significant progress in the commercial EV space, with a focus on reducing reliance on foreign-made battery components. The company's subsidiary, Mullen Advanced Energy, is installing a battery pack production line at a new high-energy facility in Fullerton, California. The CEO, David Michery, emphasized the commitment to increasing production capacity to meet growing demand and reducing battery costs by bringing production in-house.

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02/01/2024 09:10 AM

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Mullen Capitalizes on First-Mover Advantage in Class 1 EV Cargo Vans and Class 3 EV Trucks

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Mullen Automotive Inc. (NASDAQ: MULN) has invoiced $17,318,000.00 for its first-to-market Class 1 EV cargo vans and Class 3 EV trucks, with a positive gross margin on vehicles invoiced. The company continues to capitalize on its first-mover advantage in the U.S. market, with strong production and deliveries of its commercial EVs. CEO David Michery highlights the positive gross profit margin per vehicle, emphasizing the growth in the commercial and fleet segments. Mullen's Class 1 and Class 3 commercial vehicles have received EPA and CARB certifications, making them available for sale in every state throughout the U.S.

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01/30/2024 09:30 AM

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Mullen Opens Dominican Republic and Caribbean Markets for Commercial EVs

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Grupo Cavel has entered into an initial order agreement to purchase 20 Mullen CAMPUS EV cargo vans for sale in the Dominican Republic and Caribbean markets. This marks a significant expansion for Mullen Automotive, Inc. into new markets, with Grupo Cavel planning to continue ongoing vehicle orders and establishing a sales and service distribution channel for Mullen's lineup of commercial EVs in the region. The Dominican Republic is a leading country among Latin American countries with the most electric vehicles per capita, making it a strategic market for Mullen's expansion. The Mullen CAMPUS is a highly efficient electric van designed for low-speed, closed-campus use, providing cargo capacity and operator comfort.

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01/29/2024 09:15 AM

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The Mullen THREE, Class 3 EV Truck Now CARB Certified and Ready for Sale in All CARB States and District of Columbia

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Mullen Automotive, Inc. (NASDAQ: MULN) announces the achievement of a key commercial EV milestone with its all-electric Class 3 low cab forward chassis truck, receiving certification from the California Air Resources Board (CARB). The certification opens the Mullen ONE and THREE eligibility for state EV incentive programs, including California's HVIP project, offering a rebate of up to $45,000.00. This achievement is significant as CARB's recent ACF regulation mandates 50% zero-emission vehicle purchases by 2024 and 100% by 2027. CARB certification also makes the Mullen THREE EV truck more appealing to customers who want to electrify their fleets, with a net effective cost of less than $20,000.00 after incentives.

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01/24/2024 02:00 PM

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Mullen Automotive Regains Compliance with Nasdaq Minimum Bid Price Requirement

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Mullen Automotive Inc. (NASDAQ: MULN) has regained compliance with the minimum bid price requirement of The Nasdaq Stock Market LLC, ensuring its continued listing and trading on The Nasdaq Capital Market. The company has until March 8, 2024, to demonstrate compliance with the annual shareholder meeting requirement, with the meeting scheduled for February 29, 2024.

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01/22/2024 09:15 AM

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Mullen Invoices and Delivers 130 Additional Class 1 EV Cargo Vans to Randy Marion Automotive Group for $4,372,550.00

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Mullen Automotive, Inc. announces the delivery and invoicing of 130 additional Class 1 EV cargo vans to Randy Marion Automotive Group, with a total invoiced amount of $7,736,150. The company has seen strong demand and interest in the Mullen ONE, a versatile EV cargo van designed for last-mile delivery.

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01/19/2024 09:30 AM

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Mullen Announces Bollinger Motors Receives Vehicle Orders for 40 B4, Class 4 EV Trucks; Valued at Approximately $6 Million

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Mullen Automotive, Inc. (NASDAQ: MULN) announces collaboration with Bollinger Motors for the production of 40 B4 Class 4 EV trucks, valued at approximately $6 million. The B4 chassis cab is expected to start production in mid-2024 and is eligible for a federal purchasing incentive of 30% of the vehicle cost, up to $40,000. The B4 is designed to be custom-configured by fleets and is all-electric, with a range of 110-200 miles.

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01/16/2024 05:06 PM

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Mullen Automotive Provides 2023 Financial Results and Current Business Update

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Mullen Automotive Inc. achieved significant milestones with the receipt of first vehicle orders, commencement of Class 1 and 3 vehicle production, customer deliveries, and recorded revenue. The company also received federal EPA and NHTSA certification for its vehicles, and IRS approval for tax credits. In fiscal year 2023, the company recorded first revenues of $366,000 and delivered vehicles worth $652,200 to Randy Marion Automotive for resale. Mullen has delivered 100 Class 1 vehicles and invoiced for $3.3 million, and 141 Class 3 vehicles invoiced for $9.2 million to Randy Marion Automotive Group as of Dec. 31, 2023. The company also opened a battery module and pack development facility in California, reducing reliance on foreign battery components.

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FAQ

What is the current stock price of Mullen Automotive (MULN)?

The current stock price of Mullen Automotive (MULN) is $2.18 as of April 11, 2025.

What is the market cap of Mullen Automotive (MULN)?

The market cap of Mullen Automotive (MULN) is approximately 128.9K.

What is the core business of Mullen Automotive Inc?

Mullen Automotive Inc specializes in the design, manufacturing, and distribution of commercial electric vehicles and advanced energy solutions.

How does Mullen Automotive generate its revenue?

The company generates revenue through direct vehicle sales, an extensive dealer network, and strategic investments in advanced battery and digital technologies.

What are the main products offered by Mullen Automotive Inc?

Mullen Automotive Inc offers a range of commercial EVs, including the Mullen ONE Class 1 electric cargo van and the Mullen THREE Class 3 electric cab chassis truck.

How does Mullen Automotive ensure quality and safety in its vehicles?

All vehicles are built in compliance with U.S. Federal Motor Vehicle Safety Standards, EPA requirements, and CARB certifications, ensuring rigorous quality and safety standards.

What role does technology play in Mullen Automotive's operations?

Technology is integral to the company's strategy, from advanced battery production to digital platforms like Carhub that utilize AI for streamlined vehicle transactions and enhanced customer experiences.

How is Mullen Automotive positioned within the EV market?

With robust manufacturing facilities in the US, a growing dealer network, and strategic partnerships, Mullen Automotive Inc is well positioned to serve the commercial and urban transportation sectors with sustainable EV solutions.