Mullen Automotive Inc Stock Price, News & Analysis

Mullen Automotive's subsidiary, Bollinger Motors, has secured a significant deal with Doering Fleet Management for the sale of 70 all-electric Class 4 Bollinger B4 commercial trucks. The order, valued at approximately $11.5 million, marks a milestone as the B4 will be Doering's first medium-duty, all-electric truck offering. Deliveries are scheduled to begin in late 2024.

The Bollinger B4 Chassis Cab is a newly designed 800-volt battery electric Class 4 commercial truck, developed with input from fleets and upfitters. It qualifies for a $40,000 refundable tax credit per truck under the Inflation Reduction Act. Bollinger Motors has recently achieved several milestones, including EPA certification and partnerships with key industry players for battery supply, assembly, warranty administration, and mobile services.

Mullen Automotive announces the POWER BOOST program, an innovative battery exchange initiative allowing current Class 1 EV cargo van customers to upgrade their lithium-ion batteries to solid-state polymer packs. This enhancement is expected to boost vehicle range to over 200 miles. The Mullen ONE, equipped with the new battery, is set for production in the second half of 2025. The company has made significant strides, including road testing the Class 1 van with the new battery, identifying lead suppliers, and issuing purchase orders. The program reflects Mullen's commitment to advancing technology and providing value to early adopters.

Bollinger Motors, an electric commercial vehicle manufacturer, announced the sale of five all-electric Class 4 Bollinger B4 trucks to Spencer Manufacturing. Spencer, a specialist in upfitting emergency rescue vehicles, will convert these trucks for fire rescue purposes. Production of the vehicles will commence in the second half of 2024. Bollinger's B4 chassis cab offers durability, reliability, and performance with a unique design that includes an 800V battery system. Additionally, Bollinger Motors has recently qualified for a $40,000 refundable tax credit per truck under the Inflation Reduction Act. Bollinger Motors has also secured several milestones, including sales to Momentum Groups and EnviroCharge, and partnerships with key suppliers and service centers.

Mullen Automotive, an electric vehicle (EV) manufacturer, announced that its subsidiary, Bollinger Motors, has secured an agreement to sell five all-electric Class 4 Bollinger B4 commercial trucks to Spencer Manufacturing for $825,000. Spencer will convert these trucks into fire rescue vehicles using its patented Solid-Poly® process. The trucks will be delivered in the second half of 2024. The Bollinger B4 is noted for its durability, reliability, and performance, making it suitable for emergency services. Bollinger Motors recently achieved several milestones, such as EPA certification, multiple vehicle sales, and strategic partnerships in battery supply, vehicle assembly, and mobile service provision.

Mullen Automotive (NASDAQ: MULN) has announced the sale of its Class 1 electric vehicle (EV) to Eco Auto, a dealer partner in Massachusetts. This sale marks the first commercial EV transaction for Mullen in the state. The vehicle will be delivered to a Massachusetts-based company involved in custom home building, renovations, property management, and painting. The partnership with Eco Auto, a national EV dealership franchise, aims to make EVs more accessible. The Mullen THREE, part of the EV lineup, qualifies for a $15,000 incentive through the Massachusetts MOR-EV program and a $45,000 cash rebate via California’s HVIP program. These incentives highlight Mullen's commitment to clean air standards and urban delivery efficiency.

Bollinger Motors announced that its Class 4 B4 Chassis Cab has received a Certificate of Conformity from the EPA, a important step for selling zero-emission vehicles in the U.S. The certification ensures the B4 meets EPA emissions standards despite being an all-electric vehicle. Bollinger plans to launch the B4 in the second half of 2024. The B4 is designed to provide safety, flexibility, and performance, featuring an 800V battery and 70% American-made content. The company also qualified for federal clean-vehicle incentives, offering $40,000 in tax credits per truck. Recent milestones include significant vehicle sales, new dealer partnerships, and strategic supplier agreements.

Mullen Automotive's subsidiary, Bollinger Motors, has received the EPA Certificate of Conformity for its Class 4 B4 Chassis Cab. This milestone allows Bollinger to start selling its zero-emission, all-electric B4 trucks in the U.S., with production starting in the second half of 2024. The B4, designed with 70% American-made content, offers enhanced safety and performance with an 800-volt battery system. Bollinger Motors has also secured federal clean vehicle incentives under the Inflation Reduction Act, providing $40,000 in tax credits per truck. Recent achievements include significant sales agreements and partnerships with major dealers and service providers.

Mullen Automotive announced key milestones, including $250 million in committed capital, state incentive approvals, and dealer network expansion. The company secured $150 million in equity financing and a $50 million investor agreement. State incentives include a $15,000 incentive for the Mullen THREE in Massachusetts and a $45,000 rebate in California. Bollinger Motors, a subsidiary, received a $13.2 million sales order. Mullen added new dealers and European distributors, along with an $8.2 million truck sales deal. Solid-state polymer battery packs for Class 1 vehicles are set for 2025 certification. The company plans to expand its vehicle portfolio through potential acquisitions and introduce new battery technology and a DC fast-charging truck. Foreign Trade Zone status at its Mississippi facility is expected to save $20 million in working capital.

Bollinger Motors announced the sale of 80 all-electric Class 4 trucks to Momentum Groups. The agreement involves Momentum upfitting the Bollinger B4 Chassis Cab with mobile EV chargers or other vehicle configurations for fleet management and EV charging solutions. Momentum will take possession of the trucks after production starts in late 2024. This deal aims to reduce emissions and improve operational efficiency for fleet owners. Bollinger Motors recently secured several partnerships, including with Nacarato Truck Centers and Our Next Energy, and qualified for federal clean-vehicle tax incentives.