Mullen Automotive, Inc. - Common Stock (MULN)

Two sources have revealed that BP is ditching plans to increase renewable energy generation capacity and refocusing its efforts on fossil fuels. The sources told Reuters that the chief executive is set to scrap the company’s plan to boost green energy generation by 20 times through the rest of the decade, dealing a major blow to the clean energy industry’s growth.

NEW YORK, Feb. 27, 2025 (GLOBE NEWSWIRE) --

Mullen Automotive (NASDAQMULN) announced the purchase and delivery of its Mullen ONE Class 1 EV cargo van to Orange County, North Carolina, for deployment by the county’s Solid Waste Management Department. The order, fulfilled by National Auto Fleet Group, supports Orange County’s Climate Action Plan to transition its fleet to all-electric by 2025. Mullen’s commercial EVs, including the Mullen ONE and Mullen THREE, are available for purchase under Sourcewell’s contract, offering sustainable solutions for government agencies nationwide.

Mullen Automotive (NASDAQMULN) announced the purchase and delivery of its Mullen ONE Class 1 EV cargo van to Orange County, North Carolina, for deployment by the county’s Solid Waste Management Department. The order, fulfilled by National Auto Fleet Group, supports Orange County’s Climate Action Plan to transition its fleet to all-electric by 2025. Mullen’s commercial EVs, including the Mullen ONE and Mullen THREE, are available for purchase under Sourcewell’s contract, offering sustainable solutions for government agencies nationwide.

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

Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Mullen Automotive, Inc. (“Mullen” or “the Company”) (NASDAQMULN) and certain of its officers.

Mullen Automotive (NASDAQMULN), an electric vehicle manufacturer, announced that its all-electric commercial vehicles, the Mullen ONE Class 1 EV cargo van and Mullen THREE Class 3 EV cab chassis truck, have been added to National Auto Fleet Group’s (NAFG) Sourcewell contract. This approval allows government agencies and educational institutions to purchase Mullen’s commercial EVs through NAFG without lengthy bidding procedures. Sourcewell, a government agency that streamlines procurement, offers competitively solicited contracts, making fleet acquisition more efficient. NAFG, a California-based dealer, is also an approved California Air Resource Board (“CARB”) HVIP dealer, enabling significant incentives on the Mullen THREE, including up to $45,000 in cash vouchers and a $7,500 federal tax credit, potentially reducing its cost to under $17,000.

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

OKLAHOMA CITY, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Federman & Sherwood announces that on February 12, 2025, it filed a class action lawsuit in the United States (“U.S.”) District Court for the Central District of California against Mullen Automotive Inc. (“Mullen” or the “Company”) (NASDAQMULN) and certain of its officers. The Complaint alleges that Mullen and certain officers made materially false and/or misleading statements and omissions in violation of the federal securities laws and seeks to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder throughout the Class Period, which is between February 3, 2023, and February 13, 2025. Following these materially false and misleading statements and/or omissions, several disclosures revealed the truth of Mullen’s operations and brought to light the falsities behind Defendants’ statements. As a result, Mullen saw a significant drop in the value of its share prices NASDAQ:MULNNASDAQMULN)

The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Mullen Automotive, Inc. (“Mullen” or “the Company”) (NASDAQMULN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Mullen Automotive (NASDAQMULN) announced a strategic partnership with EO Charging to provide comprehensive electrification solutions for Bollinger Motors’ commercial fleet customers. EO Charging will offer charger installation, 24/7 support, and its advanced EO Cloud management system, ensuring over 99% uptime. This collaboration enhances the Bollinger B4’s market readiness by integrating proven charging infrastructure, supporting fleet operators in a seamless transition to electric vehicles. Bollinger Motors, which began delivering its Class 4 Bollinger B4 in October, continues expanding its dealer network and regulatory achievements.

The International Energy Agency (IEA) has revealed that renewables are poised to cover the impending rise in worldwide electricity demand for the next three years. According to a recent IEA forecast, renewables like solar and wind will cover a whopping 95% of the globe’s increased energy demand until 2028. Electrification across several industries coupled with the increased demand for cloud and artificial intelligence services will be largely responsible for the surge in global demand for electricity.

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

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Mullen To Contact Him Directly To Discuss Their Options

Mullen Automotive (NASDAQMULN) reported its strongest quarter to date, invoicing over $4.4 million and receiving $6 million for vehicle deliveries in Q1 FY2025. The company highlighted growth in its commercial EV segment, with new sales across multiple industries, including home services, floral, and coffee distribution. Bollinger Motors delivered 20 Class 4 B4 trucks, generating $2.8 million in revenue, while expanding its sales and service network to over 50 locations. Mullen also advanced its U.S. battery production capabilities with three new battery lines and a $55 million DOE funding request. Despite these developments, the company reported a net loss of $114.9 million, with 79% attributed to non-cash expenses.

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

Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of securities of Mullen Automotive, Inc. (NASDAQMULN) between February 3, 2023 and March 13, 2024. Mullen describes itself as an “electronic vehicle manufacturer.”

Mullen Automotive (NASDAQMULN), an electric vehicle manufacturer, announced a 1-for-60 reverse stock split of its common stock, set to take effect Feb. 18, 2025, at 12:01 a.m. Eastern. The move aims to help the company regain compliance with Nasdaq’s $1.00 minimum bid price requirement. Mullen’s stock will continue trading under the existing symbol MULN on a split-adjusted basis when markets open that day. Stockholders approved the reverse split at a Jan. 31 special meeting, authorizing a range between 1-for-2 and 1-for-100, with the board finalizing the 1-for-60 ratio. No fractional shares will be issued, and holdings will be rounded up to the nearest whole share.

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.

American automaker Ford Motor says developing large electric trucks and SUVs presents ‘insurmountable’ challenges, but it will push on with its electric vehicle plans. As SUVs and pickup trucks have become incredibly popular in the U.S. over the past couple of decades, the auto industry has trended toward developing increasingly larger cars.

OKLAHOMA CITY, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Federman & Sherwood announces that on February 12, 2025, it filed a class action lawsuit in the United States (“U.S.”) District Court for the Central District of California against Mullen Automotive Inc. (“Mullen” or the “Company”) (NASDAQMULN) and certain of its officers. The Complaint alleges that Mullen and certain officers made materially false and/or misleading statements and omissions in violation of the federal securities laws and seeks to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder throughout the Class Period, which is between February 3, 2023, and March 13, 2025. Following these materially false and misleading statements and/or omissions, several disclosures revealed the truth of Mullen’s operations and brought to light the falsities behind Defendants’ statements. As a result, Mullen saw a significant drop in the value of its share prices NASDAQ:MULNNASDAQMULN)

China has made remarkable advancements in green energy over the past couple of decades that have made it a world leader in green energy. With the country already reaching its 2030 energy targets half a decade ahead of schedule, China’s green energy surge may help the country taper its massive appetite for coal. The East Asian nation manufactures a significant portion of all the world’s solar panels and wind turbines, making it an integral player in the global green energy infrastructure supply chain.

The European Union (EU) is backing a plan to build a hydrogen pipeline from North Africa to nations in the EU. The subsea pipeline would transport green hydrogen from Tunisia and Algeria to Germany, Italy, and Austria by the end of the decade, but many experts are apprehensive about the plan’s feasibility.

BMW and Tesla Shanghai alongside several other Chinese automakers are suing the European Union (EU) as the trade war over electric vehicle tariffs between China and the EU heats up. China’s EV industry is significantly more advanced than the rest of the world and the Asian nation has already begun exporting EVs in mass to other markets. However, with most Western automakers struggling to sell EVs profitably, China’s incredibly cheap EVs posed a nigh-existential threat.

Mullen Automotive (NASDAQMULN) announced the acquisition of additional battery line equipment from Nikola Corporation to enhance its Fullerton, California, battery operations. The facility, dedicated to producing next-generation American-made battery packs and solid-state polymers, will now include two high-volume standard battery chemistry lines, a solid-state polymer R&D line, and an expanded testing laboratory. The move aligns with Mullen’s commitment to domestic battery production and reduced reliance on foreign imports. The company has also submitted a revised plan to the U.S. Department of Energy, seeking $55 million in matching funds to support its U.S.-based battery and pack manufacturing capabilities.