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.
Bollinger Motors has achieved California Air Resources Board (CARB) certification for its all-electric Bollinger B4 Class 4 trucks, a important step towards becoming sales-ready. This certification allows sales in 15 CARB-compliant states and opens up access to significant incentives. When combined with the $40,000 IRS rebate, customers can potentially save up to $100,000 through programs like California's HVIP project.
Production of the B4 is set to begin on September 16, 2024, with customer deliveries starting in October. This milestone follows several recent achievements, including EPA certification, full warranty coverage, and major vehicle sales to companies like Momentum Group and Doering Fleet Management.
Mullen Automotive's subsidiary, Bollinger Motors, has achieved a significant milestone with its B4 all-electric Class 4 truck receiving California Air Resources Board (CARB) certification. This certification allows Bollinger to sell vehicles in 15 CARB-compliant states and opens up access to substantial incentives. When combined with the $40,000 IRS rebate, customers can potentially save up to $100,000 through programs like California's HVIP.
Bollinger Motors is set to begin production of the B4 on September 16, 2024, with customer deliveries starting in October. The company has already secured several vehicle sales agreements and expanded its network of dealers and service centers. This CARB certification is a important step in Bollinger's mission to electrify vehicle fleets nationwide.
Bollinger Motors, a commercial EV manufacturer, has partnered with Texas Consulting & Development (TCD) to supply Bollinger B4 Class 4 trucks for TCD's new bundled service offering. This partnership aims to enhance TCD's Vehicle-to-Grid (V2G) and Vehicle-to-Building (V2B) technology offerings, while expanding Bollinger's market reach in the Commercial & Industrial, Telecom, and Utility sectors.
The collaboration aligns with both companies' goals of leveraging electrification to create operational efficiencies and reduce carbon footprints. Notably, Bollinger Motors has recently achieved several milestones, including starting production of the B4, receiving EPA certification, and securing multiple vehicle sales. The Bollinger B4 chassis cab also qualifies for a $40,000 federal tax credit under the Inflation Reduction Act.
Mullen Automotive's subsidiary, Bollinger Motors, has partnered with Texas Consulting & Development (TCD) to supply Bollinger B4 Class 4 trucks for TCD's new bundled service offering. This partnership aims to enhance TCD's Vehicle-to-Grid (V2G) and Vehicle-to-Building (V2B) technology offerings, while expanding Bollinger's market presence in commercial, industrial, telecom, and utility sectors.
The collaboration aligns with both companies' goals of leveraging electrification to improve operational efficiency and reduce carbon footprints. Bollinger Motors has recently achieved several milestones, including starting production of the B4, providing full warranty coverage, and receiving EPA certification. The B4 chassis cab also qualifies for a $40,000 federal tax credit under the Inflation Reduction Act.
Mullen Automotive (NASDAQ: MULN) has begun shipping electric vehicles under a $210 million contract with Volt Mobility in the UAE. The agreement covers 3,000 Class 1 and Class 3 EV cargo vans and trucks over 16 months, with revenue recognition starting in Q1 FY2025. The initial shipment, part of a 300-vehicle commitment for 2024, left on September 2, 2024.
Volt Mobility plans to lease these EVs to corporate clients like UPS, DHL, and FedEx in the Gulf Cooperation Council region. Mullen's Tunica, Mississippi facility, capable of producing 26,000 vehicles annually, is assembling the order. This partnership marks Mullen's expansion into the Middle East market, following its growth in Europe.
Bollinger Motors, an electric commercial vehicle manufacturer, has expanded its retail and service network westward by adding 20 TEC Equipment dealerships. This partnership includes sales and service locations in California, Oregon, and Washington, along with additional service locations across seven states. The Bollinger B4 Chassis Cab, an all-electric class 4 commercial truck, is set to begin deliveries in October 2024.
TEC Equipment, a family-owned full-service truck and trailer dealership, will provide sales, service, and other support for Bollinger vehicles. This expansion is part of Bollinger's recent milestones, including production announcements, EPA certification, significant vehicle sales, and partnerships with key suppliers and service providers.
Mullen Automotive's subsidiary, Bollinger Motors, has expanded its commercial EV network by adding 20 TEC Equipment dealerships across the Western United States. TEC Equipment, representing franchises from Volvo, Mack Trucks, and Wabash Trailers, will serve as an official Bollinger Motors dealer. The new locations span 8 states, including major cities along the I-5 corridor in California, Oregon, and Washington.
The Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck with a 185-mile range, is set to begin production in September 2024. Bollinger has recently achieved several milestones, including EPA certification, vehicle sales to various companies, and partnerships with key suppliers and service providers.
Mullen Automotive (NASDAQ: MULN) has secured a significant $210 million contract with Volt Mobility, a UAE-based commercial leasing company. The agreement involves the purchase of 3,000 Class 1 and Class 3 EV cargo vans and trucks over a 16-month period. Mullen will receive an initial $3 million deposit within 60 days and begin shipping vehicles immediately.
Volt Mobility, which serves major clients like UPS, DHL, and FedEx in the Gulf Cooperation Council region, plans to lease these vehicles to its corporate customers. The order will be assembled at Mullen's Tunica, Mississippi facility, capable of producing 20,000 Class 1 and 6,000 Class 3 vehicles annually with two production shifts.
This deal aligns with the UAE's ambitious plans to decarbonize its infrastructure and energy production, aiming for 100% clean energy by 2050. The agreement provides Mullen with exposure to leading global transportation companies and opportunities in the Middle East market.
Bollinger Motors, an electric commercial vehicle manufacturer, has announced the start of production for its Bollinger B4 Chassis Cab on September 16, 2024, with first deliveries beginning in October 2024. The Class 4 commercial truck features a unique, purpose-built EV chassis design with a 158-kwh battery pack. Bollinger is partnering with Roush Industries for production at their Livonia, Michigan facility.
The company has secured multiple sales orders, including 70 vehicles to Doering Fleet Management, 80 to Momentum Group, and 50 to EnviroCharge. Bollinger has also added dealerships and service centers, partnered with Our Next Energy for battery packs, and qualified for $40,000 federal tax credits per vehicle under the Inflation Reduction Act.
Mullen Automotive's subsidiary, Bollinger Motors, announces the start of production for its B4 Chassis Cab on Sept. 16, 2024, with deliveries and revenue recognition beginning in October 2024. The Class 4 EV truck features a unique chassis design that protects its 158-kwh battery pack, offering enhanced safety compared to competitors. Bollinger is partnering with Roush Industries for production in Livonia, Michigan.
Recent milestones include EPA certification, sales agreements totaling 205 vehicles, and qualification for $40,000 federal tax credits per vehicle under the Inflation Reduction Act. Bollinger has also secured partnerships for battery supply, warranty administration, and mobile service.
FAQ
What is the current stock price of Mullen Automotive (MULN)?
What is the market cap of Mullen Automotive (MULN)?
What does Mullen Automotive specialize in?
Where are Mullen’s production facilities located?
What are some of Mullen Automotive’s key products?
What recent partnerships has Mullen Automotive formed?
What is the significance of Mullen’s CARB and EPA certifications?
What is the PowerUP zero-emissions mobile charging truck?
How is Mullen expanding internationally?
What financial incentives are available for Mullen vehicles?
What benefits does the Foreign Trade Zone status provide Mullen?
Where can I find more information about Mullen Automotive?
