Mullen Automotive Inc. MULN Archives - Page 5 of 28

TuesdayMay 14, 2024 2:56 pm

QualityStocksNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Announces $150 Million Financing Commitment Covering Commercial Sales Efforts, Capital Needs for Next 13 Months

Mullen Automotive (NASDAQ: MULN), an electric vehicle (“EV”) manufacturer, has received a $100 million financing commitment from a family office; the company has also sold up to an additional $50 million of senior secured convertible notes to family offices and high net worth investors. According to the announcement, this $150 million capital infusion allows Mullen and Bollinger to operate and expand domestic and international commercial sales efforts as well as meet its capital needs over the next 13 months. This news comes on the heels of several advancements announced by the company, including California Air Resource Board (“CARB”) HVIP approval…

ThursdayApr 25, 2024 3:44 pm

QualityStocksNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Receives CARB Certification for 2025 Class 3 EV Truck

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is announcing the receipt of certification from the California Air Resources Board (“CARB”) for the 2025 Millen THREE, a Class 3 all-electric low cab forward chassis truck. A copy of Mullen’s 2025 Class 3 CARB certification can be found on MullenUSA.com. The announcement noted that this new CARB approval follows the 2024 Model Year CARB certification for Mullen THREE, received in January 2024. The certification is awarded to vehicle manufacturers who meet specific emissions standards in compliance with CARB regulations. CARB certification opens the Mullen THREE to critical state EV…

MondayApr 22, 2024 2:24 pm

QualityStocksNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Marks Phase One Completion of Battery Line Integration

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced the first phase completion of battery line integration at its high energy facility located in Fullerton, California. According to the announcement, the southern California facility is dedicated to producing next-generation American-made EV battery packs, a critical component to Mullen’s commitment to zero emissions and to reducing reliance on key battery components imported from foreign countries. “Our new battery assembly plant is not just an investment in Mullen Automotive's future, but also a testament to our commitment towards U.S. battery production,” said David Michery, CEO of Mullen Automotive. “Battery…

MondayApr 08, 2024 2:58 pm

QualityStocksNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Streamlines Operations to Focus on Commercial Segment

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that the company has initiated significant cost reduction and consolidation measures, aligning budget to current conditions. Actions are expected to drive an estimated $170 million reduction in Mullen’s operating and investing cash flow expenses over the next 12 months when compared to operating and investing cash flows for the 12 months ended Sept. 30, 2023. The company is making these changes to refine business operations and better align focus on the commercial EV segment that has opportunity to drive near term revenue for Mullen, including projected April sales…

WednesdayMar 13, 2024 4:27 pm

QualityStocksNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Issues Update on US Government Ruling for Class 1 EV Cargo Vans

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today provided an update on the U.S. Customs and Border Protection (“CBP”) application for Class 1 EV cargo vans. According to the announcement, the CBP, on March 5, 2024, informed Rapid Response Defense Systems (“RRDS”) counsel that a final determination on the ruling request needs to be issued by the U.S. General Services Administration (“GSA”). Based on CBP advice, Mullen and RRDS are proceeding with the GSA in order to finalize qualification of Mullen to sell Class 1 EV cargo vans to all branches of the U.S. government. “Mullen is…

TuesdayMar 05, 2024 2:53 pm

QualityStocksNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Subsidiary Adds Two New Dealers to Growing Distributorship Network

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, announced that its subsidiary, Bollinger Motors, is expanding its footprint. The company has named an additional two dealership groups as it rolls out its commercial truck line. The two dealership groups — Nacarato Truck Centers and Nuss Truck and Equipment — span seven states and include 11 locations. A U.S.-based company headquartered in Michigan, Bollinger Motors develops all-electric commercial chassis cab trucks. The company is beginning its rollout with its B4 Chassis Cab, an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input, which…

ThursdayFeb 29, 2024 2:04 pm

QualityStocksNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Begins Road Testing on Solid-State Polymer Battery Pack

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has moved to the next phase in testing an integrated solid-state polymer battery pack in its Class 1 EV cargo vans. According to the announcement, vehicle road testing began this week on the battery pack. The company began initial lab testing of the latest phase of solid-state polymer battery packs in January by installing the battery pack in the Class 1 EV cargo van to monitor system compatibility between the vehicle and pack; performance testing also included on-road drive cycles and Dyno testing at an EPA-certified lab. The company initially…

MondayFeb 26, 2024 2:04 pm

QualityStocksNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Releases Update Strategic Focus on Commercial Vehicle Segment

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is reporting on its continued focus on the commercial vehicle segment with production and deliveries of its Class 1 and Class 3 commercial EVs. According to the announcement, the company is in full commercial production of the Class 1 and Class 3 EV vehicles while subsidiary Bollinger Motors is focused on Class 4–6 vehicles; production of the Class 4 EV is set to begin in the second half of 2024. In addition, Mullen saw positive gross margin per Class 1 and Class 3 vehicles invoiced. The company also noted that…

ThursdayFeb 22, 2024 9:00 am

Mullen Automotive Inc. (NASDAQ: MULN) Receives Initial Order for EV Cargo Vans to Open Caribbean Market

EV sales remain strong, projected to grow in 2024 Mullen is positioning itself in the global market with recent purchase order from Grupo Cavel in the Dominican Republic Mullen EVs “establish a new level of quality among commercial vehicles,” says Cavel CEO Electric vehicle sales are projected to continue growing globally in 2024, according to a recent NASDAQ report (https://ibn.fm/asZpm). That is great news for Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer that is expanding into the Caribbean market with its commercial CAMPUS EV cargo van (https://ibn.fm/Oph51). “It’s important to note that EV sales are expected to…

WednesdayFeb 21, 2024 1:41 pm

QualityStocksNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Reports on Anticipated Timeline for Class 1 EV Cargo Vans CBP Ruling

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is reporting an update on its U.S. Customs and Border Protection (“CBP”) application for Class 1 EV cargo vans. According to the update, CBP notified counsel on Feb. 20, 2024, that a determination on the ruling request should be made in the next one to two months. The company noted that CBP ruling requests are typically processed on a first-in, first-out basis and that decisions are usually made between 45 to 90 days, although some decisions may take longer, depending on the agency’s caseload. “On Nov. 24, 2023, Mullen and Rapid…

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