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 announces that its subsidiary, Bollinger Motors, has been approved for the New York Truck Voucher Incentive Program (NYTVIP), offering up to $100,000 cash voucher incentive for its all-electric B4 Truck. This adds to existing Northeast state incentives from Massachusetts ($30,000), New Jersey ($90,000), and Pennsylvania ($20,000). Combined with the federal IRA tax credit of $40,000, customers can receive between $70,000 and $140,000 in total incentives.
The 2025 Bollinger B4 Chassis Cab, featuring a 158-kilowatt-hour battery pack, has secured multiple vehicle sales agreements and expanded its dealer network. Recent achievements include FMVSS compliance, EPA certification, and CARB certification.
Bollinger Motors has delivered its first West Coast 2025 Bollinger B4 Chassis Cabs to TEC Equipment dealerships in Washington and California, with a total retail value of nearly $500,000. The all-electric Class 4 commercial truck features a 158-kilowatt-hour battery pack and qualifies for federal clean vehicle tax credits of $40,000 per vehicle, with potential total savings exceeding $100,000 with state incentives. The company has achieved several milestones, including production launch, regulatory certifications, and significant vehicle sales to various fleet management companies.
Mullen Automotive's subsidiary, Bollinger Motors, has delivered three 2025 B4 chassis cab electric trucks to TEC Equipment locations in Washington and California, with a retail value of approximately $500,000. The revenue is being recognized in Mullen's current fiscal quarter ending December 2024. The B4 chassis cab features a 158-kilowatt-hour battery pack and qualifies for federal clean vehicle tax credits of $40,000 per vehicle, with potential total savings exceeding $100,000 including state incentives. TEC Equipment, a family-owned dealership with over 30 locations across eight states, will help distribute Bollinger's electric trucks along the West Coast.
Mullen Automotive (Nasdaq: MULN) announced that Robert Bollinger, founder of Bollinger Motors, has provided $10 million in non-dilutive debt financing to Bollinger Motors. The funding will support the production ramp-up and sale of the Bollinger B4, a Class 4 EV truck. The B4 entered full-scale production in September at Roush Industries in Livonia, Michigan, with over 70% US-made content. The trucks are currently being shipped to customers and dealers nationwide.
Mullen Automotive Inc. (MULN) has regained full compliance with Nasdaq's listing requirements, specifically the minimum bid price requirement. The company received formal notice from Nasdaq on Oct. 16, 2024, confirming its compliance with Nasdaq Listing Rule 5550(a)(2). As a result, Mullen will continue to be listed and traded on The Nasdaq Capital Market.
The previously scheduled Nasdaq hearing before the Panel, set for Nov. 14, 2024, has been cancelled, and the matter is now closed. Mullen anticipates being removed from Nasdaq's list of noncompliant companies within approximately four business days from the receipt of the compliance notification.
Mullen Automotive (NASDAQ: MULN) has announced the establishment of Mullen Credit (MCC), a wholly owned subsidiary aimed at supporting its expanding dealership network with vehicle floor planning and providing financing options for fleets and small business customers. This move comes as Mullen experiences rapid growth, with projected sales for 2025 expected to increase significantly.
MCC will enable dealerships to finance inventory upfront and pay back the loan plus interest when the vehicle is sold. Mullen's commercial EV lineup includes the Mullen ONE, Class 1 EV cargo van, and the Mullen THREE, Class 3 EV cab chassis truck, both available for sale and compliant with U.S. safety and environmental standards.
The company's commercial dealer network has expanded to include several key partners across various U.S. regions. Additionally, Mullen's vehicles qualify for significant incentives, including state rebates and federal tax credits, offering substantial savings for commercial fleet customers.
Mullen Automotive (NASDAQ: MULN) forecasts $75 million in GAAP revenue over the next six months from its sales pipeline and pilot programs. The company plans to immediately reduce monthly operating expenses by $5.5 million, from $12.8 million to $7.3 million. This reduction will be achieved through a 20% headcount cut, elimination of passenger vehicle programs, and facility consolidations.
Mullen has conducted over 80 vehicle demos or pilots across various U.S. industries, leading to significant commercial sales progress. The company expects to reach an average monthly revenue of $12.5 million over the next six months from both Mullen Commercial and Bollinger Motors sales opportunities.
CEO David Michery expressed confidence in improving near-term cash flow through continued focus on revenue growth and expense reduction. Mullen now has three vehicle lines in full production and is concentrating on near-term commercial revenue generation and enhanced operational efficiencies.
Bollinger Motors has delivered its first five customer-ready all-electric trucks to Nacarato Truck Centers in LaVergne, Tennessee. The delivery includes 2025 Bollinger B4 Chassis Cabs with a sales value of nearly $800,000, generating revenue for Bollinger Motors in the current quarter. Four vehicles will be sold to commercial fleet customers, while one will be used for Nacarato's internal parts deliveries.
The Bollinger B4 Chassis Cab is an all-new, all-electric Class 4 commercial truck designed with fleet and upfitter input. It features a unique chassis design that protects the 158-kwh battery pack and components. The 2025 model has an MSRP of $158,758 and qualifies for a $40,000 federal clean vehicle tax credit under the Inflation Reduction Act.
Mullen Automotive's subsidiary, Bollinger Motors, has delivered its first 2025 Bollinger B4 Chassis Cab electric trucks to Nacarato Truck Centers. The delivery of five B4s generated $800,000 in revenue, recognized for the three months ended Sept. 30, 2024. Nacarato will sell four vehicles to commercial fleet customers and use one for internal parts deliveries.
The B4 Chassis Cab is an all-electric Class 4 commercial truck with a 158-kilowatt-hour battery pack. It has a Manufacturers Suggested Retail Price of $158,758 and qualifies for a $40,000 federal tax credit under the Inflation Reduction Act. Bollinger has achieved several milestones, including production launch, CARB certification, FMVSS compliance, and EPA certification.
Mullen Automotive Inc. (NASDAQ: MULN) announces significant revenue growth and reduced spending for Q3 2024. The company expects to report $4.5 million in revenue for the quarter ended Sept. 30, 2024, a 6791% increase from the previous quarter's $65,235. Mullen has also reduced its monthly cash burn to $12.7 million in Q3 2024, down from $18.1 million in Q1 2024. The company aims to achieve breakeven on a cash basis by December 2025.
Additional updates include receiving $11.9 million from investors, with an expected $600,000 more incoming. Mullen has a $150 million investment commitment through its equity line. CEO David Michery expressed optimism about the company's momentum for the remainder of 2024.
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