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 (NASDAQ: MULN) announces a $3.2 million vehicle order from Papé Truck, comprising 43 Class 3 EV trucks and 7 Class 1 EV cargo vans. Deliveries will begin immediately. Papé, Mullen's seventh commercial EV dealer, has over 30 locations across the Western U.S.
The order includes various Class 3 configurations and parts supply for warranty service. Papé's partnership aligns with Mullen's goal of expanding access to its commercial EVs. Mullen's lineup features the Class 1 Mullen ONE and Class 3 Mullen THREE, both compliant with U.S. safety and environmental standards.
Both vehicles qualify for significant incentives, including state rebates in Massachusetts and California, as well as the $7,500 Federal Tax Incentive, offering substantial savings for commercial fleet customers.
Mullen Automotive CEO David Michery provided a video update for shareholders, highlighting the company's recent progress. Key points include:
1. Sales and Distribution Expansion: Expanded dealer network to seven dealers nationwide, conducted over 80 vehicle demos, and secured orders from universities, local governments, and businesses.
2. International Growth: Established retailers and orders in Eastern Europe and the Middle East, including a $210M order from Volt Mobility.
3. Bollinger Motors Progress: Completed engineering and testing for compliance, partnered with Roush Industries for production, and began manufacturing the first customer-ready B4 electric trucks.
4. Financial Performance: Transitioned to revenue generation, reduced cash burn, and secured $100M preferred instrument and $150M equity line to support growth.
Mullen Automotive CEO David Michery will provide a video update for shareholders on Tuesday, Sept. 24, 2024, at 9 a.m. Eastern. The video will be available on MullenUSA.com and the company's social media channels. Michery will discuss key achievements by Mullen and Bollinger Motors, as well as recent progress on expanding domestic and international sales and distribution channels. The update will cover company efforts through Sept. 20, 2024. Mullen Automotive (NASDAQ: MULN) is an emerging electric vehicle (EV) manufacturer.
Bollinger Motors celebrated its transition to a full-fledged Original Equipment Manufacturer (OEM) on September 20, 2024, with the launch of its first customer-ready all-electric Class 4 Bollinger B4 Chassis Cab. The company, founded by Robert Bollinger in 2015, pivoted from high-end electric SUVs to commercial vehicles in 2022. CEO Jim Taylor highlighted the readiness of the commercial vehicle segment for electrification.
Bollinger has achieved several milestones, including CARB certification, FMVSS compliance, and EPA approval. The company secured significant vehicle sales to Momentum Group, Doering Fleet Management, and EnviroCharge. It also established partnerships with dealers, battery suppliers, and service providers.
Government officials, including Michigan Governor Gretchen Whitmer and House Speaker Joe Tate, praised Bollinger's commitment to Michigan and its role in advancing electric vehicle technology. The launch event emphasized Bollinger's impact on Detroit's automotive industry and its contribution to a more sustainable transportation future.
Mullen Automotive subsidiary, Bollinger Motors, has achieved a significant milestone with the production of its first customer-ready B4 electric truck on September 20, 2024, in Livonia, Michigan. The event marked Bollinger's transition to a full-fledged Original Equipment Manufacturer (OEM).
Key highlights include:
- The Bollinger B4 is an all-electric Class 4 Chassis Cab, entirely assembled in the USA in partnership with Roush Industries.
- Bollinger has secured several vehicle sales, including 145 to Momentum Group, 70 to Doering Fleet Management, and 50 to EnviroCharge.
- The company has expanded its dealer and service center network, partnered with ONE for battery packs, Syncron for warranty administration, and Amerit Fleet Solutions for mobile service.
- Bollinger has received CARB certification, FMVSS compliance, and EPA Certificate of Conformity.
The launch event was attended by employees, suppliers, and government leaders, showcasing strong support for Bollinger's contribution to sustainable transportation and Michigan's automotive industry.
Mullen Automotive provides an update on the $210 million UAE order from Volt Mobility. The company's technical and sales team are in Dubai this week to support the initial market launch, including the delivery of the first Mullen ONE EV cargo vans and Mullen THREE cab chassis trucks on Sept. 18, 2024. Mullen plans to supply 300 all-electric commercial vehicles in 2024 and an additional 3,000 vehicles in 2025. The company will also establish a parts and service network to support Volt Mobility's fleet operations.
Mullen is working with VoltiE Group, a Miami-based EV charging company, to provide EV vehicles and charging equipment to Volt Mobility, which operates in the Gulf Cooperation Council (GCC) region of the Middle East. This collaboration aims to expand Mullen's presence in the UAE market, which CEO David Michery describes as a very important opportunity for the company.
Bollinger Motors has announced the pricing for its 2025 Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, with an MSRP of $158,758. The company began production on September 16 and will start deliveries in October 2024. Notably, buyers can qualify for over $100,000 in state and federal incentives, including up to $40,000 in IRS tax credits and up to $60,000 from California's HVIP program.
The B4 features a 158-kWh battery pack and is designed with input from fleets and upfitters. It's now available for order through Bollinger's national dealer network. Recent developments include sales agreements, dealer partnerships, and collaborations with suppliers like Our Next Energy for battery packs and Amerit Fleet Solutions for mobile services.
Mullen Automotive subsidiary Bollinger Motors has announced pricing for its 2025 Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, with an MSRP of $158,758. The B4 features a 158-kwh battery pack and began serial production on September 16, 2024, with deliveries starting in October 2024.
Buyers can qualify for over $100,000 in state and federal incentives, including up to $40,000 from the IRS clean vehicle credit and up to $60,000 from California's HVIP program. The B4 is available through Bollinger's national dealer network and can be customized with dealer accessories and factory options, including an e-PTO unit available in January.
Recent developments include vehicle sales to Momentum Group, Doering Fleet Management, and EnviroCharge, as well as dealer and service agreements with several automotive groups.
Mullen Automotive (NASDAQ: MULN) has entered into a sales and service agreement with Papé Kenworth, expanding its commercial EV dealer network. Papé Kenworth, part of the Papé Group, operates in 9 states with over 150 locations, 815 service bays, and 1,500 technicians. This partnership marks Mullen's seventh franchise dealer addition in recent months.
The collaboration aims to accelerate commercial EV adoption by combining Mullen's innovative lineup with Papé Kenworth's extensive network and industry expertise. Mullen's commercial EVs include the Class 1 Mullen ONE cargo van and Class 3 Mullen THREE cab chassis truck, both compliant with U.S. safety standards and eligible for various state and federal incentives.
Mullen Automotive Inc. (NASDAQ: MULN) has announced a 1-for-100 reverse stock split effective Sept. 17, 2024. This move is primarily aimed at complying with Nasdaq's $1.00 minimum bid price requirement. Key points include:
- The stock will continue trading under MULN symbol
- New CUSIP number: 62526P505
- Stockholders approved the split on Sept. 9, 2024
- 100 current shares will convert to 1 share
- Adjustments will be made to equity awards, warrants, and convertible notes
- No fractional shares will be issued; all fractions rounded up
- The split won't alter stockholders' percentage interest (except for rounding)
Continental Stock Transfer & Trust Company will serve as the exchange agent. Stockholders don't need to take action for the split.
FAQ
What is the current stock price of Mullen Automotive (MULN)?
What is the market cap of Mullen Automotive (MULN)?
