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.

01/08/2024 09:45 AM

News

Mullen Submits Grant Funding Opportunity to DOE for Domestic Battery Materials Processing

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Mullen Automotive, Inc. (NASDAQ: MULN) plans to produce an estimated 150,000 battery packs through the 2032 Program, aiming to provide $3.5 billion to strengthen US battery material manufacturing. The company's subsidiary, Mullen Advanced Energy, LLC, submitted a Concept Paper in response to the U.S. Department of Energy Funding Opportunity for Battery Materials. The program, established via the current administration, seeks to boost domestic production of advanced batteries and battery materials nationwide. Mullen's Concept Paper details the plan to produce 150,000 battery packs domestically through 2032, reducing current battery costs by over 20% and seeking a $50 million DOE grant to support capital investment for plant equipment and tooling. The company's new high-energy facility in Fullerton, California, is dedicated to producing next-generation American-made EV battery packs, with the formal submission for the DOE funding opportunity expected on or before March 19, 2024.

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01/04/2024 09:45 AM

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Mullen Announces 2023 Class 1 and Class 3 Invoice Totals of $12,559,520

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Mullen Automotive, Inc. (NASDAQ: MULN) delivered 100 Class 1 and 141 Class 3 vehicles to Randy Marion Automotive Group through Dec. 31, 2023, with an additional 185 Class 1 vehicles scheduled for delivery through Jan. 8, 2024. These vehicles are part of a purchase order totaling $263,000,000. The majority of the vehicles are expected to be delivered throughout 2024. The total invoiced amount for the 2023 deliveries was $12,559,520. David Michery, CEO and chairman of Mullen Automotive, expressed confidence in the company's production and delivery scaling for 2024.

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01/03/2024 09:50 AM

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For Calendar Year 2023, Mullen Hits Class 3 Delivery Target with 141 Class 3’s Delivered to RMA; Total Invoiced Amount of $9,196,021

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Mullen Automotive, Inc. (NASDAQ: MULN) achieved its 2023 Class 3 delivery target with 154 units built and 141 delivered to Randy Marion Automotive Group for a total invoiced amount of $9,196,021. The remaining 13 vehicles are being utilized for engineering and marketing purposes. Mullen THREE is a Class 3 low cab forward EV truck with a 125-mile range, built for urban last-mile delivery and various vocational needs.

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01/02/2024 09:25 AM

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Mullen Delivers 50 Additional Class 1 EV Cargo Vans to Randy Marion Automotive Group Invoiced at $1,681,750

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Mullen Automotive, Inc. (NASDAQ: MULN) announces the delivery of 50 additional Class 1 EV cargo vans to Randy Marion Automotive Group for $1,681,750, bringing the total invoiced amount to $3,363,500 for 100 vans. The company is on track to deliver a total of 285 Class 1 vehicles by Jan. 8, 2024. Mullen ONE production is based in Tunica, Mississippi, with the Mullen ONE being the first EV cargo van for sale in the U.S. market in the Class 1 commercial vehicle segment, designed for last-mile delivery.

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12/28/2023 09:00 AM

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Mullen Delivers 50 Class 1 EV Cargo Vans and Invoices Randy Marion Automotive Group for $1,680,000

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Mullen Automotive, Inc. (NASDAQ: MULN) announces delivery of 50 all-electric Mullen ONE, Class 1 cargo vans to Randy Marion Automotive Group with plans to deliver a total of 285 vehicles within the next five business days. The company invoiced RMA for $1,680,000 and has invoiced over $6,054,300 for Class 1 vehicles. The Mullen ONE is anticipated to be the first EV cargo van for sale in the U.S. market in the Class 1 commercial vehicle segment, designed for last-mile delivery with best-in-class cargo volume, payload, and turning diameter.

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12/27/2023 09:00 AM

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Mullen Completes Solid-State Polymer Cell to Pack Integration and Begins Class 1 Battery Pack Testing

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Mullen Automotive Inc. (MULN) announces the successful completion of solid-state polymer pack level test and validation for Class 1 EV cargo vans, with on-vehicle road testing set to begin in Q1 2024. The 110-mile current LFP range is projected to increase to over 190 SSP miles, representing a 73% increase and providing a superior, clean, and safe alternative to current lithium-ion batteries. The solid-state polymer cells allow for increased safety and efficiency without sacrificing payload, with the Mullen ONE featuring a 72-kilowatt solid-state polymer battery pack, 4,881 lbs. GVWR, 1,603 lbs. max payload, 157-cubic-feet cargo volume, and a 20-foot turning radius.

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12/26/2023 09:00 AM

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Mullen Delivers 63 More Class 3 Vehicles to Randy Marion Automotive Group Valued at $3,969,000; To-Date, 121 Class 3s Delivered Valued at $7,623,000

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Mullen Automotive, Inc. (NASDAQ: MULN) announces the delivery of 63 additional Class 3 vehicles to Randy Marion Automotive Group, totaling $3,969,000 invoiced. The company is on track to deliver 150 vehicles by EOY 2023 as part of a 1,000 Class 3 purchase order from Randy Marion. The production facility in Tunica, Mississippi, plans to produce 150 vehicles in 2023, with a total capacity of 3,000 vehicles annually per shift.

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12/22/2023 08:00 AM

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Mullen Achieves Production Milestone, Dec. 13, 2023, with 100th Mullen THREE EV Truck Rolling Off Tunica, Miss., Assembly Line

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Mullen Automotive, Inc (NASDAQ: MULN) achieves production milestone with 125 Mullen THREE's, Class 3 cab chassis EV trucks. CEO David Michery emphasizes the company's focus on commercial vehicle production and customer deliveries. The Tunica facility is aligned with current customer purchase orders and has a production capacity of 3,000 trucks annually per shift.

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12/21/2023 08:00 AM

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Mullen Delivers 38 Class 3 Vehicles to Randy Marion Automotive Group

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Mullen Automotive, Inc. (NASDAQ: MULN) announces the delivery of 38 additional Class 3 vehicles to Randy Marion Automotive Group, invoicing for $2.5 million. Randy Marion has committed to a total of 1,000 Class 3 vehicles for $63 million, with most deliveries expected in 2024. Class 3 production at the Tunica, Mississippi, facility is planned for 150 vehicles in 2023, with a total capacity of 3,000 vehicles annually per shift.

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12/20/2023 09:00 AM

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Mullen Class 1 EV Cargo Van Now Certified for Sale in all 15 CARB States and District of Columbia by California Air Resources Board

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Mullen Automotive, Inc. (NASDAQ: MULN) has achieved a significant milestone in the electric vehicle market with the certification of its all-electric Class 1 cargo van, the Mullen ONE, by the California Air Resources Board (CARB) as a zero-emission vehicle. This certification, along with the previous certificate of conformity from the Environmental Protection Agency (EPA), allows Mullen to sell the Mullen ONE in every state throughout the U.S. and makes it eligible for critical state EV incentive programs. The CARB certification is particularly important given CARB's recent Advanced Clean Truck regulation, which mandates that all local delivery and government fleets must be zero emissions by 2036. This achievement positions Mullen to capitalize on the growing demand for electric vehicles in the U.S.

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FAQ

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

The current stock price of Mullen Automotive (MULN) is $0.0775 as of April 4, 2025.

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

The market cap of Mullen Automotive (MULN) is approximately 339.6K.

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.