Articles from Mullen Automotive, Inc.

The Mullen ONE EV cargo van will be deployed by Orange County’s Solid Waste Management Department, supporting its Climate Action Plan, which aims to transition the county’s fleet to all-electric vehicles

Mullen Commercial EVs available for purchase on Sourcewell under NAFG’s Sourcewell Contract # 091521-NAF which offers Class 1-3 light duty trucks, cars, vans, SUVs, cab chassis, and electric vehicles with related equipment and accessories to U.S. government agencies

EO to power EV charging infrastructure, equipment and technology solutions for Bollinger’s dealers and customers

Company achieves strongest quarter results to date with $4.4M invoiced and $6M received on vehicles delivered

BREA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQMULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announced today that it will effect a 1-for-60 reverse stock split (“Reverse Stock Split”) of its common stock, par value $0.001 per share (“Common Stock”), that will become effective on Feb. 18, 2025, at 12:01 a.m. Eastern Time. The Common Stock will continue to trade on The Nasdaq Capital Market (“Nasdaq”) under the existing symbol MULN and will begin trading on a split-adjusted basis when the market opens on Feb. 18, 2025. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 62526P604.

Upon installation of new assets which were recently delivered on Jan. 27, 2025, the Company’s Fullerton facility will have the following battery production lines and testing capabilities:

Two leading California universities in Los Angeles and the San Francisco Bay Area have placed additional orders for Mullen’s commercial electric vehicles

 Company finishes the 2024 fiscal year with growth of national dealer network, increased sales and delivery of vehicles

Company expects to file 10-K on or before Jan. 31, 2025

Mr. Appliance is a leading national home service brand from Neighborly

Westland’s Class 3 service body upfits completed by Phenix Truck Bodies & Van Equipment.

Company has reduced monthly burn from $16.8M in August 2024 to $11.8M in September 2024 and to $5.3M in October and November 2024

25 B4s delivered and paid for since start of production

Bollinger has delivered and received payment on initial order of B4 Trucks

Broadway Ford Truck Center is a great addition to Bollinger’s growing dealer network

Initial vehicle order includes 10 Class 3 EV trucks and is fulfilled by Mullen’s newest franchise dealer, Papé Group

Emerald is a leading commercial vehicle manufacturer and seller of refrigerated trucks and vans

On Dec. 2. 2024, Bollinger Motors received, via electronic transfer, payment in full for all seven Bollinger B4 trucks with immediate revenue recognition

Anticipated start of production to begin in mid-2025

Company announces commercial Class 1 EV cargo vans purchased and delivered to two leading California universities in Los Angeles and Berkeley

Under HVIP, the Bollinger B4 electric truck, with a suggested MSRP of $158,758, now qualifies for a rebate of up to $60,000

Bollinger B4 Class 4 electric trucks now available through NAFG Sourcewell contract agreement #032824-NAF

Jacksonville, Florida, is the first U.S. market to offer the Mullen ONE EV cargo van for rental

Bollinger is approved for other Northeast state incentive programs from Massachusetts, New Jersey and Pennsylvania

Founder’s financing to support Bollinger’s production ramp-up and sale of the Bollinger B4, Class 4 EV truck

Bollinger Motors receives payment via electronic transfer with immediate revenue recognition in current fiscal quarter ending December 2024

Mullen will continue its listing on The Nasdaq Capital Market

Mullen Credit Corporation (MCC) to provide floor plan to dealers and financing to fleets and small business customers

Company expects $75M in GAAP revenue over the next six months from sales pipeline and pilot programs

First deliveries of Bollinger B4 electric trucks to Nacarato Truck Centers with a value of $800,000

For quarter ended Sept. 30, 2024, Company expects to report approximately $4.5 million in revenue compared to $65,235.00 reported in quarter ended June 30, 2024, an increase of 6791% compared to prior quarter

Papé’s vehicle purchase includes 43 Class 3 EV trucks and 7 Class 1 EV cargo vans

David Michery, CEO and chairman, shares a Company update, including sales activities with existing and new companies resulting in new sales opportunities and vehicle orders received and or completed

Video will be made available on Tuesday, Sept. 24, 2024, at 9 a.m. Eastern via MullenUSA.com

Employees, suppliers, government leaders share historic Bollinger B4 vehicle launch

Mullen technical and sales team present in Dubai this week for delivery of first EV vehicles

The 2025 B4 buyers can qualify for more than $100,000 in state and federal incentives on all-new, all-electric Class 4 truck

Papé Group, which includes Papé Kenworth, consists of five operating companies with over 150 locations in nine states and 85 cities with over 815 service bays and 1,500 technicians

BREA, Calif., Sept. 13, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQMULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announced today that it will effect a 1-for-100 reverse stock split (“Reverse Stock Split”) of its common stock, par value $0.001 per share (“Common Stock”), that will become effective on Sept. 17, 2024, at 12:01 a.m. Eastern Time. The Common Stock will continue to trade on The Nasdaq Capital Market (“Nasdaq”) under the existing symbol MULN and will begin trading on a split-adjusted basis when the market opens on Sept. 17, 2024. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 62526P505.

Affinity has served California’s transportation needs since 1980 and has built longstanding relationships with local businesses and continues to provide California’s Central Valley with superior equipment and services

Certification opens the Bollinger B4 EV truck to federal and state incentive programs totaling $100,000 in potential savings

Partnership establishes all-electric Bollinger B4 truck as part of new TCD client solution

Company to recognize revenue under the agreement in fiscal quarter 1, commencing Oct. 1, 2024

Expands Sales and Service Network with 20 locations across all key markets in the Western United States

Mullen to receive initial $3 million deposit and will begin shipping first vehicles immediately

Deliveries and revenue recognition of the B4 EV truck begins October 2024

Mullen's commercial EV lineup supports higher education campuses in achieving greenhouse gas reduction goals

 Positive stockholders’ equity of $53 Million as of June 30, 2024

Mullen announces commercial Class 1 EV delivery to the University of Virginia (UVA) Sustainable Fleet Department

Eco to purchase 130 Class 1 EV cargo vans and 50 Class 3 EV trucks over the next 18 months for an estimated value of $7.7 million, with new deliveries beginning in September 2024

Taylor also retains role as SVP of Global Manufacturing for Mullen Automotive

Company total assets are expected to be approximately $191.4 million as of June 30, 2024, and will be reported in the Company’s quarterly report to be filed on or about Aug. 12, 2024

3-year lease option, starting at $475 per month plus applicable taxes and fees, includes scheduled vehicle maintenance

Mullen to appear alongside premier anchor companies Airbus, Ingalls Shipbuilding, Mississippi Polymer Institute at the University of Southern Mississippi, Mississippi Power, Port of Pascagoula, Skydweller Aero, and The Coca-Cola Company

Vehicles currently in use on Intel’s technology campus in Chandler, Arizona, for mail and package delivery; plans for additional vehicle orders to follow

29-unit Mullen GO order is valued at $304,000 USD with 15% deposit paid upfront and full payment due upon early August shipment to GAMA

The EPA certified B4 provides one of the strongest warranties in the commercial market today

Mullen is currently negotiating with multiple government agencies to provide its Class One and Three vehicles and will be announcing additional orders over the current fiscal quarter

Under the MOR-EV program, the Mullen ONE Class 1 EV cargo van, with a suggested MSRP of $34,500, is now approved for a MA state cash rebate of up to $3,500

Vehicle order to Doering Fleet Management is valued at approximately $11.5 million with first vehicle deliveries in late 2024

POWER BOOST is a pioneering battery exchange program enabling existing Class 1 EV cargo van customers the opportunity to upgrade their lithium-ion battery packs to solid-state polymer battery packs, increasing Class 1 vehicle range to over 200 miles

Order includes 5 Bollinger B4 trucks and is valued at approximately $825,000

Revenue Booked in Quarter Ending June 30, 2024

EPA certification is a critical milestone to sell vehicles to customers

Company has committed capital in excess of $250 million

Order includes 80 Bollinger B4 trucks and is valued at approximately $13.2 million

Under the MOR-EV program, the Mullen THREE EV truck, with a suggested MSRP of $68,500, now qualifies for a Massachusetts state cash rebate of up to $15,000

Eco Auto’s initial vehicle order includes 10 Mullen ONE’s and 3 Mullen THREE’s

Company continues European expansion for commercial electric vehicle sales; new VP of Sales for Europe, Middle East and Africa appointed to oversee EMEA markets

Commercial food delivery upfitter submits purchase order for 40 all-electric Mullen-GO urban delivery vehicles

New PowerUP mobile charging system based on the all-electric Mullen THREE, a Class 3 cab chassis EV truck, provides increased versatility and 100% ZERO EMISSIONS power generation capable of delivering on demand, mobile DC fast-charging

New commercial distributor was formed recently to offer Mullen’s full commercial EV lineup in the Balkans Region, which includes Bosnia Herzegovina, Serbia, Montenegro, Croatia, Slovenia, Macedonia, Albania, Greece and Bulgaria

Deal value estimated at $8,250,000

Initial Vehicle Orders to Follow