Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, received a purchase order for 6,000 Class 1 EV cargo vans; the order comes from Randy Marion Isuzu LLC, a member of the Randy Marion Automotive Group (“RMA”). According to the announcement, the order is valued at an estimated $200 million, and MULN anticipates starting delivery of the vehicles by Q1 2023. One of the largest and most respected commercial vehicle dealer groups in the United States, RMA was announced as Mullen’s first commercial dealer partner to offer sales, service and parts for Mullen Automotive’s commercial vehicle lineup. An RMA official noted that there is “significant pent-up customer demand for Mullen to fulfill” with “many customers looking at me to find product for their companies.” Alling the order “a real vote of confidence in our company,” Mullen noted that RMA definitely sees a future in commercial EVs. Mullen’s commercial EV lineup includes Class 1-3 cargo van and cab chassis offerings and Bollinger Motors Class 4-6 chassis products; the company’s entire commercial vehicle lineup will be manufactured out of its Mississippi-based Advanced Manufacturing and Engineering Center (“AMEC”). “The Randy Marion Automotive team is fully aligned with our Class 1 EV plan and is well positioned to help us capitalize on our first mover advantage in the commercial EV segments,” said Mullen chair and CEO David Michery in the press release.
To view the full press release, visit https://ibn.fm/wgQj2
About Mullen Automotive Inc.
Mullen Automotive is a southern California-based automotive company building the next generation of electric vehicles that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. The Mullen FIVE, the company’s first electric crossover, is slated for delivery in 2025 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. In September 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and in December 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.qualitystocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php
