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.
Mullen Automotive, Inc. (NASDAQ: MULN) is a Southern California-based automotive innovator specializing in the manufacture of electric vehicles (EVs) and energy solutions. The company's primary mission is to make EVs accessible by creating a comprehensive ecosystem that supports all aspects of electric vehicle ownership.
Mullen Automotive's business is anchored by its two U.S.-based vehicle plants in Tunica, Mississippi, and Mishawaka, Indiana, where it commenced commercial vehicle production in August 2023. The company operates through two segments: Bollinger and Mullen/ELMS, which collectively generate its revenue.
One of Mullen's significant assets is its subsidiary Mullen Auto Sales, a fast-expanding chain of auto dealerships. Additionally, Mullen owns CarHub, a digital platform that leverages AI to provide a seamless car buying, selling, and ownership experience. The company’s product lineup includes the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck. These vehicles are certified by the California Air Resource Board (CARB) and the EPA, making them available for sale across the U.S. The Mullen THREE, for instance, is HVIP approved, offering up to a $45,000 voucher at purchase combined with a $7,500 federal tax credit, potentially reducing its net effective cost to under $17,000.
In recent developments, Mullen has formed key partnerships to enhance its market reach and operational capacity. Collaborations with entities like Ziegler Truck Group, Range Truck Group, and EnviroCharge underscore Mullen's commitment to delivering zero-emission commercial vehicles. Mullen’s strategic pivot to a zero-emissions model, as highlighted by the launch of the PowerUP zero-emissions mobile charging truck, aligns with the growing market demand for sustainable solutions.
Mullen's international footprint is also expanding, with new distributor agreements in regions like the Balkans and partnerships with companies like Antidoto SA to deploy urban delivery vehicles in Europe. Such initiatives are key to Mullen’s global EV market strategy.
Financially, Mullen received federal EV tax credit approval in September 2023, enhancing the affordability of its commercial vehicles. Additionally, the Tunica, Mississippi plant's Foreign Trade Zone (FTZ) status offers various financial benefits, including duty deferment and elimination of export duties.
For more detailed and up-to-date information, visit Mullen Automotive’s official site at www.MullenUSA.com.
Mullen Automotive recently featured in CarBuzz, highlighting its FIVE EV Crossover and retail strategy. CEO David Michery discussed the company’s performance and partnerships with firms like Hofer Powertrain and Comau. These collaborations aim to expedite the FIVE's market launch. The vehicle, recognized as 'Top Zero Emission SUV' at the 2021 ZEVA® Awards, boasts a unique skateboard platform design. Mullen targets making EVs more accessible while maintaining a focus on sustainability and innovation.
Mullen Automotive (NASDAQ: MULN) has been recognized as a top penny stock with significant growth potential, according to Insider Monkey. The company, known for its innovations in electric vehicles, boasts 120 technology patents and is focusing on solid-state battery development, promising over 600 miles of range. CEO David Michery highlights partnerships with firms like hofer powertrain and Comau to enhance production capabilities. Mullen is set to launch its FIVE EV crossover, recently awarded 'Top Zero Emission SUV' at the LA Auto Show.
Mullen Automotive, an emerging electric vehicle manufacturer, announced significant advancements in its next-generation solid-state polymer battery technology. Testing reveals the potential for a 150-kilowatt-hour battery pack delivering over 600 miles on a full charge and 300 miles in just 18 minutes via DC fast charging. The Mullen FIVE EV Crossover will utilize this technology, with prototype testing scheduled for 2025. Mullen has also forged partnerships with multiple firms to enhance its manufacturing and technology capabilities, aiming to expedite the FIVE’s market introduction.
Mullen Automotive has recently garnered attention from WardsAuto™ in a feature highlighting its innovative hybrid retail model and the Mullen FIVE EV crossover. During interviews, Mullen executives shared insights about manufacturing plans, battery technology, and strategic partnerships with firms such as hofer powertrain and Comau. These collaborations aim to expedite the market launch of the FIVE, which was awarded 'Top Zero Emission SUV' at the 2021 LA Auto Show. CEO David Michery expressed gratitude for WardsAuto's coverage of Mullen's advancements.
Mullen Automotive announces it is on track to meet its operational goals for 2022, with the first delivery of EV cargo van fleet vehicles expected in Q2 2022. The company has filed over 120 patents for the Mullen FIVE model in 24 countries and has acquired the AMEC manufacturing facility free of debt. Recent partnerships are set to advance their EV offerings. Despite these advancements, Mullen remains unaware of the reasons behind the decline in its stock price (MULN).
Mullen Automotive (MULN) has announced promising results from a 6-month EV market study comparing its Mullen FIVE to the Tesla Model Y and Ford Mach-E. The study, conducted by GO GROW, LLC, involved nearly 4,000 U.S. adults and demonstrated the Mullen FIVE's competitive design and features. The positive feedback supports Mullen's application for a $450 million loan from the U.S. Department of Energy. Mullen has also established key partnerships to enhance its production capabilities, positioning the FIVE strongly in the EV market.
Mullen Automotive, Inc. (NASDAQ: MULN) recently highlighted an interview featuring CEO David Michery on the Cars Yeah Podcast. In this discussion, Michery elaborated on Mullen's vision for the FIVE EV Crossover and its holistic EV infrastructure. Mullen has formed key partnerships with companies like Comau and DSA Systems, aimed at expediting the FIVE's market launch with advanced technology. Notably, the FIVE was recognized as the Top Zero Emission SUV at the ZEVA® Awards in 2021, showcasing its innovative design and capabilities.
Mullen Automotive has formed a strategic alliance with Comau to establish a state-of-the-art body shop at its Advanced Manufacturing and Engineering Center (AMEC) in Tunica, Mississippi. This collaboration aims to enhance production quality for the upcoming Mullen FIVE EV Crossover. The AMEC site is set for a significant expansion, totaling 1.2 million sq. ft. Dedicated to automotive innovation, this partnership leverages Comau's 45 years of experience in automotive manufacturing, reinforcing Mullen's commitment to delivering high-quality electric vehicles.
Mullen Automotive provides updates on the Mullen FIVE EV crossover and Mullen EV Cargo Van programs. Progress includes battery adaptation and structural reinforcements, with fully functional vehicles expected by Q3 2022. Consumer events are planned for late summer and early fall, allowing reservation holders to test drive the FIVE. The EV Cargo Van is also on track for deliveries in Q2 2022 despite global supply chain issues. Mullen has formed strategic partnerships for production and technology enhancements. The Mullen FIVE won the Top SUV award at the ZEVA Awards in November 2021.
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