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 (MULN) is a leader in commercial electric vehicle innovation, specializing in Class 1-3 EVs for urban logistics and fleet operations. This page provides authorized updates on corporate developments, product milestones, and strategic initiatives directly from the company and verified sources.
Access timely announcements including new vehicle certifications, production updates from Mullen's U.S. manufacturing facilities, and partnerships advancing battery technology. Investors and industry observers will find essential updates on regulatory compliance achievements, dealer network expansions, and progress with the Carhub digital ecosystem.
All content is curated to meet strict journalistic standards, focusing on operational developments rather than market speculation. Information is organized chronologically with clear sourcing to enable efficient tracking of Mullen's progress in sustainable transportation solutions.
Bookmark this page for structured access to MULN's evolving position in commercial EVs, including updates from their Bollinger and Mullen Commercial segments. Check regularly for verified announcements about production capabilities, vehicle certifications, and technological advancements in electric mobility.
Mullen Automotive has entered a binding agreement with DelPack Logistics to supply up to 600 Class 2 EV cargo vans over the next 18 months. The first 300 vans are eligible for delivery by November 30, 2022. These vans will comply with U.S. standards, featuring airbags, a comfort package, and an 80 kWh battery. This collaboration is seen as a significant opportunity for Mullen in the last-mile delivery market, as noted by CEO David Michery. DelPack, an Amazon Delivery Service Partner, also expressed enthusiasm for participating in sustainable initiatives.
Mullen Automotive (NASDAQ: MULN) has significantly reduced its debt from over $30 million to approximately $11 million, eliminating $17.5 million attributed to a secured convertible promissory note with DBI Lease Buyback Servicing LLC. This marks the company's most robust financial position in its history, according to CEO David Michery. Mullen is focusing on its electric vehicle initiatives, including the upcoming 'Strikingly Different' U.S. Test Drive Tour for the Mullen FIVE EV Crossover, which will cover 19 cities beginning in the fall.
Mullen Automotive (NASDAQ: MULN) expects to report over $61 million in cash and cash equivalents as of June 30, 2022. The company has strengthened its balance sheet significantly. Highlights include the delivery of its first EV van to a telecommunications provider, an extension of a secured convertible note to July 2024, and addition to the Russell 2000 Index. Mullen is also securing $275 million in funding for EV development projects, pending shareholder approval. CEO David Michery emphasized strong progress in the past quarter.
Mullen Automotive (MULN) announced significant advances in its electric vehicle programs. Key achievements include successful testing of solid-state polymer battery technology, delivery of its first EV van, and anticipation of joining the Russell 2000 and 3000 Indexes. The company secured $275 million in potential funding, pending shareholder approval, aimed at expanding its EV offerings. Mullen also initiated retrofitting for EV battery pack development and plans a nationwide test drive tour in 2022.
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.
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