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.
Mullen Automotive has kicked off the Mullen FIVE EV Crossover “Strikingly Different” tour successfully on October 27 in Pasadena, CA, with reservations surpassing expectations. Customer feedback has been overwhelmingly positive, with pre-orders quadrupling in volume during the event.
New dates have been added for Angel Stadium in Anaheim on November 1 and 2, followed by stops in Las Vegas on November 10 and 11. The tour allows participants to experience the Mullen FIVE's features, including the innovative PERSONA technology.
Mullen Automotive is launching the Mullen FIVE EV Crossover Tour starting October 27 in Pasadena, California, due to high demand. Additional dates in Anaheim, California, on November 1 and 2 have been added. Attendees will experience Mullen's proprietary PERSONA technology, enhancing the vehicle's personalization features. The tour will continue in various U.S. cities through November and December, culminating in spring 2023 with a second leg focusing on the East Coast. Mullen aims to showcase its innovative electric vehicles and gather consumer feedback.
Mullen Automotive has announced it secured exclusive sales, distribution, and branding rights for the I-GO, a compact urban delivery electric vehicle, in major European markets including the UK, Germany, Spain, France, and Ireland. The I-GO is EU certified, featuring a 16.5-kWh battery with a range of 124 miles and a starting price of $11,999 plus VAT and local transportation. This strategic move aims to address the growing demand for urban delivery vehicles, allowing Mullen to enhance its brand presence and revenue opportunities without detracting from its US manufacturing focus.
Mullen Automotive has appointed John Schwegman as Chief Commercial Officer for its commercial EV division. With 35 years at General Motors, Schwegman brings extensive experience in overseeing commercial product lines and EV strategy. His focus will be on growth for Mullen’s Class 1 to Class 6 commercial vehicles, enhancing enterprise and fleet sales opportunities. Mullen recently acquired Bollinger Motors, expanding its commercial vehicle offerings.
Mullen Automotive (NASDAQ: MULN) has received US Bankruptcy Court approval for its acquisition of ELMS assets in an all-cash deal. This acquisition includes a manufacturing plant in Mishawaka, Indiana, enabling Mullen to produce up to 50,000 vehicles annually. The transaction, totaling up to $275 million, aims to accelerate the launch of Mullen's electric vehicles by over 12 months. Mullen's recent purchases are expected to enhance its production capacity and significantly reduce overall spending, positioning the company for further growth in the electric vehicle market.
Mullen Automotive is launching its "Strikingly Different" Tour, starting on October 27, 2022, at the Rose Bowl in Pasadena, California, and continuing to the Las Vegas Motor Speedway on November 10-11, 2022. The tour will showcase the Mullen FIVE electric vehicle crossover with additional stops planned in various U.S. cities, including Texas, Tennessee, Florida, Georgia, and North Carolina through December 2022. The company aims to engage potential customers and reservation holders through test drives while promoting its first model, enhancing its visibility in the EV market.
Bollinger Motors, now majority-owned by Mullen Automotive (NASDAQ: MULN), partners with Wabash to create a lighter, more efficient refrigerated electric truck. The collaboration leverages Wabash's EcoNex™ Technology, which enhances thermal efficiency and reduces weight, leading to increased payload capacity. The new trucks promise lower operational costs and less energy consumption compared to traditional models. This venture marks Mullen's entry into the medium-duty truck sector, expanding its product offerings and supporting sustainability efforts in commercial transportation.
Mullen Automotive has unveiled the specifications and a first look at its ultra-high-performance EV sport crossover, the Mullen FIVE RS. This vehicle boasts a top speed of 200 mph and can accelerate from 0-60 mph in just 1.9 seconds. The FIVE RS features advanced engineering, including an 800-volt architecture, all-wheel drive, and over 1,000 horsepower. It will be showcased during the second leg of the ‘Strikingly Different’ U.S. Test Drive Tour in spring 2023. Consumers will experience the vehicle by riding alongside professional drivers.
Mullen Automotive has successfully completed its majority acquisition of Bollinger Motors as of September 7, 2022. The transaction was funded with cash and restricted stock. CEO David Michery expressed optimism about the acquisition's potential benefits for shareholders. Mullen Automotive specializes in developing affordable electric vehicles built in the U.S., and the acquisition of Bollinger, noted for its commercial vehicle platforms, is expected to enhance Mullen's capabilities in the EV market. Further details can be found in the recent SEC filing.
Mullen Automotive has announced the majority acquisition of Bollinger Motors, marking its first significant move into the medium and heavy-duty truck segments. This acquisition allows Mullen to expand its electric vehicle offerings, specifically in classes 3-6 trucks and SUVs like the B1 and B2. A webinar featuring David Michery and Robert Bollinger will discuss the strategic vision behind the partnership. The acquisition is touted as one of the largest in the EV sector, potentially enhancing Mullen's market position in electric commercial vehicles.
FAQ
What is the current stock price of Mullen Automotive (MULN)?
What is the market cap of Mullen Automotive (MULN)?
What is the core business of Mullen Automotive Inc?
How does Mullen Automotive generate its revenue?
What are the main products offered by Mullen Automotive Inc?
How does Mullen Automotive ensure quality and safety in its vehicles?
What role does technology play in Mullen Automotive's operations?
How is Mullen Automotive positioned within the EV market?
