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Mullen Automotive Inc Stock Price, News & Analysis

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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.

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Bollinger Motors, an electric commercial vehicle manufacturer, has announced the start of production for its Bollinger B4 Chassis Cab on September 16, 2024, with first deliveries beginning in October 2024. The Class 4 commercial truck features a unique, purpose-built EV chassis design with a 158-kwh battery pack. Bollinger is partnering with Roush Industries for production at their Livonia, Michigan facility.

The company has secured multiple sales orders, including 70 vehicles to Doering Fleet Management, 80 to Momentum Group, and 50 to EnviroCharge. Bollinger has also added dealerships and service centers, partnered with Our Next Energy for battery packs, and qualified for $40,000 federal tax credits per vehicle under the Inflation Reduction Act.

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Mullen Automotive's subsidiary, Bollinger Motors, announces the start of production for its B4 Chassis Cab on Sept. 16, 2024, with deliveries and revenue recognition beginning in October 2024. The Class 4 EV truck features a unique chassis design that protects its 158-kwh battery pack, offering enhanced safety compared to competitors. Bollinger is partnering with Roush Industries for production in Livonia, Michigan.

Recent milestones include EPA certification, sales agreements totaling 205 vehicles, and qualification for $40,000 federal tax credits per vehicle under the Inflation Reduction Act. Bollinger has also secured partnerships for battery supply, warranty administration, and mobile service.

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Mullen Automotive (NASDAQ: MULN) has announced the sale of its Mullen THREE, Class 3 EV box truck to Princeton University's facilities operations unit. This marks Mullen's expansion into the higher education sector, supporting Princeton's goal of achieving zero emissions for on-campus service vehicles by 2046. The all-electric Mullen THREE features a 125-mile range and is designed for urban last-mile delivery.

The vehicle order was fulfilled through Mullen's dealer partner, Pritchard EV. Princeton's facilities operations manage over 350 vehicles, and this purchase aligns with their sustainability initiatives, including the recent launch of 17 electric buses. The Mullen THREE qualifies for incentives in Massachusetts and California, potentially reducing its cost significantly.

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Mullen Automotive (NASDAQ: MULN) reported financial results for Q3 2024 ending June 30. Key highlights include:

- Positive stockholders' equity of $53 million as of June 30, 2024
- Total assets of $192 million
- Net loss of $289.9 million for the nine months ended June 30, 2024
- Invoiced 377 vehicles valued at $16.8 million in first 9 months of FY2024
- Secured $250 million new financing commitment
- Received EPA certification for Bollinger's B4 Class 4 EV chassis cab
- Announced new commercial EV orders valued at $7.7 million
- Expanded dealer network and received state incentive approvals

The company is focusing on scaling its commercial EV business in the U.S. and internationally. However, it faces challenges including significant net losses and decreasing cash reserves.

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Mullen Automotive (NASDAQ: MULN) announces a follow-on purchase of Mullen ONE Class 1 EV cargo vans by the University of Virginia (UVA) for its Sustainable Fleet Department. This order comes after UVA's initial purchase in 2023 and follows a recent $7.7 million, 180-vehicle order from dealer partner Eco Auto. The growing demand highlights the increasing market for Mullen's electric commercial vehicles.

UVA's purchase aligns with its sustainability goals, including achieving carbon neutrality by 2030 and fossil fuel independence by 2050. The university has already electrified 13% of its Facilities Management vehicles and increased EV usage by 275% from 2020 to 2023. Mullen's EV lineup includes the Mullen ONE and Mullen THREE, both compliant with U.S. safety and emissions standards and eligible for various state incentives.

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Mullen Automotive Inc. (NASDAQ: MULN) announces a significant expansion through its dealer Eco Auto. Eco Auto will purchase 180 commercial EVs over 18 months, valued at $7.7 million, with deliveries starting September 2024. This includes 130 Class 1 EV cargo vans and 50 Class 3 EV trucks. Eco Auto is expanding its coverage to Pennsylvania, Connecticut, Rhode Island, New Hampshire, Maine, and Vermont, meeting growing demand for commercial EVs.

Mullen's commercial lineup includes the Mullen ONE (Class 1 EV cargo van) and Mullen THREE (Class 3 EV cab chassis truck), both compliant with U.S. safety and emissions standards. The Mullen THREE qualifies for significant incentives: a $15,000 incentive in Massachusetts and a $45,000 rebate in California. The Mullen ONE is eligible for a $3,500 incentive in Massachusetts.

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Mullen Automotive (NASDAQ: MULN) has promoted John Taylor to president of its commercial EV division while retaining his role as SVP of global manufacturing. Taylor, who joined Mullen in 2021, has been instrumental in launching the Mullen ONE Class 1 EV cargo van and Mullen THREE Class 3 low cab forward commercial EV in late 2023. In his new role, he will oversee engineering, supply chain management, and manufacturing for the commercial vehicle operations.

Taylor brings over 35 years of automotive experience, including significant roles at General Motors and Tesla. At Tesla, he was one of the first 50 employees and played a important role in establishing the Fremont facility and manufacturing operations for the Tesla Model S. CEO David Michery expressed confidence that Taylor's expertise will drive growth and expand Mullen's market share in the commercial EV sector.

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Mullen Automotive (NASDAQ: MULN), a US-based EV manufacturer, provided a company update highlighting strong financial position and operational progress. Key points include:

1. Expected total assets of $191.4 million as of June 30, 2024
2. Cash position exceeding current market capitalization
3. Achieved all federal and state regulatory requirements for Class 1 and 3 commercial vehicles
4. Actively manufacturing and selling Class 1 and 3 EVs across the US
5. Secured $250 million in new financing commitments
6. Expanded distribution network to six dealerships and added five new commercial dealer partners
7. Bollinger Motors subsidiary received orders for over 200 B4 commercial Class 4 EV trucks
8. Advancing solid-state polymer pack program with expected certification in second half of 2025

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Mullen Automotive (NASDAQ: MULN) has introduced bizEV, a new lease program for its Mullen ONE Class 1 EV cargo van. The program offers a 3-year lease option starting at $475 per month, plus taxes and fees, including scheduled vehicle maintenance. Targeted at individuals, small businesses, and fleets, bizEV aims to make EV ownership more accessible and affordable.

The Mullen ONE, the first of its kind in the U.S. market, is designed for urban last-mile delivery with a focus on navigating narrow streets while maximizing payload and cargo space. It complies with U.S. Federal Motor Vehicle Safety Standards, EPA, and CARB certifications. The van is currently available for sale at an MSRP of $34,500 through MullenUSA.com and authorized dealerships.

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Mullen Automotive (NASDAQ: MULN) announces its participation as an Anchor Organization and panelist at the 2024 Southeastern United States - Canadian Provinces (SEUS-CP) Business Forum in Biloxi, Mississippi, from August 4-6. The event focuses on Advanced Manufacturing for Electric Vehicle and Aerospace Technology. Mullen joins other premier companies like Airbus and The Coca-Cola Company as anchor organizations.

The SEUS-CP alliance, established in 2007, promotes economic ties between six southeastern U.S. states and six Canadian provinces. Mullen's participation underscores its commitment to the Southeast U.S., with its commercial EV manufacturing facility located in Tunica, Mississippi. The 120,000-square-foot facility, recently designated as a Foreign Trade Zone, serves as Mullen's innovation hub for commercial EV production.

Mullen will showcase its commercial EV lineup, including the Mullen ONE (Class 1 EV cargo van) and Mullen THREE (Class 3 EV cab chassis truck), both compliant with U.S. federal safety and emissions standards.

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FAQ

What is the current stock price of Mullen Automotive (MULN)?

The current stock price of Mullen Automotive (MULN) is $0.1993 as of May 9, 2025.

What is the market cap of Mullen Automotive (MULN)?

The market cap of Mullen Automotive (MULN) is approximately 164.2K.
Mullen Automotive Inc

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102.45%
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