Mullen Automotive Inc Stock Price, News & Analysis

Mullen Automotive has filed over 130 patents in 24 countries to support the Mullen FIVE EV Crossover. This includes 19 U.S. design patents and 117 international design patents, with 30 patents already granted. The patents cover various aspects of the vehicle's design, such as bodywork, headlights, and interiors. CEO David Michery emphasized the company's commitment to global availability of the Mullen FIVE. Additionally, Mullen is planning a U.S. Test Drive Tour across 19 cities beginning this fall.

Mullen Automotive has announced the extension of the maturity of a $28 million secured convertible note by two years, now due in July 2024. This note, originally set to mature in July 2022, was initially secured with DBI Lease Buyback Servicing LLC. The extension aims to enhance the company's cash flow during economic challenges, allowing better execution of its electric vehicle plans. CEO David Michery emphasized the importance of this move for the company's financial stability. For further details, the transaction is documented in Mullen's latest 8-K filing.

Mullen Automotive, Inc. (NASDAQ: MULN) has announced its upcoming inclusion in the Russell 2000® and 3000® Indexes, effective June 27, 2022. This decision, based on market capitalization rankings, marks a significant milestone for the company, enhancing its visibility within the institutional investor community. The Russell indexes are critical benchmarks, with approximately $10.6 trillion in assets referenced against them. Mullen's CEO, David Michery, expressed optimism regarding increased liquidity and investor awareness stemming from this inclusion.

Mullen Automotive (NASDAQ: MULN) announced its inclusion in the Russell 2000® and 3000® Indexes starting June 27, 2022. This membership increases visibility among institutional investors and enhances liquidity for its shares. The Russell Indexes track the largest U.S. stocks, with approximately $10.6 trillion in assets benchmarked against them. In addition, Mullen is preparing for its 'Strikingly Different' U.S. Test Drive Tour for the Mullen FIVE EV Crossover, set to commence in Southern California this fall.

Mullen Automotive (NASDAQ: MULN) announces that CEO David Michery will be interviewed on Benzinga’s All Access Series on June 3, 2022, at 11 a.m. ET. This follows a successful previous interview that drew significant viewership. The event aims to provide insights into Mullen's electric vehicle efforts, including the upcoming U.S. Test Drive Tour. Mullen is focused on creating accessible EV options and building an ecosystem for EV ownership in the U.S.

Mullen Automotive's solid-state polymer battery cell testing at Indiana's Battery Innovation Center exceeded expectations, achieving a performance of 343.28 Ah at 4.2 volts, surpassing the previously rated 300 Ah at 3.7 volts. This advancement supports Mullen's goal of delivering over 600 miles of range on a full charge for their FIVE EV Crossover when scaled to a 150-kilowatt hour battery pack. The results align with findings from EV Grid, showcasing the battery's high energy density and safety compared to traditional options.

Mullen Automotive has appointed Richard Curtis as President of International Operations, focusing on existing partnerships and expanding business opportunities for their electric vehicles. With over 35 years of automotive experience, including leadership roles at Imperium Motor Company and Lithia Automotive, Curtis is set to enhance Mullen's international presence, particularly in Asia. Additionally, the company plans a U.S. Test Drive Tour across 19 cities this fall, aiming to boost consumer engagement and brand visibility.

Mullen Automotive (NASDAQ: MULN) has announced several key hires across its vehicle engineering, integration, powertrain, and manufacturing teams to support the expansion of its electric vehicle programs, specifically the Mullen FIVE EV Crossover and Mullen ONE EV Cargo Van. New personnel have joined various facilities in California and Mississippi, enhancing the company's capabilities in these sectors. CEO David Michery emphasized the importance of these hires in fulfilling the company's commitment to creating jobs in the U.S. and advancing its EV initiatives.

Mullen Automotive has made significant strides in its partnership with Linghang Guochuang Group (LGG) to develop solid-state polymer battery technology for its second-generation Mullen FIVE EV Crossover. The partnership, active since 2019 and resumed after COVID-19 disruptions, is focused on integrating solid-state cells into vehicle packs. Testing shows potential for a range of up to 600 miles on a full charge, with over 300 miles achievable in just 18 minutes with DC fast charging. The company aims to enhance its EV offerings to better meet consumer demands.