Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, received a purchase order for 6,000 Class 1 EV cargo vans; the order comes from Randy Marion Isuzu LLC, a member of the Randy Marion Automotive Group (“RMA”). According to the announcement, the order is valued at an estimated $200 million, and MULN anticipates starting delivery of the vehicles by Q1 2023. One of the largest and most respected commercial vehicle dealer groups in the United States, RMA was announced as Mullen’s first commercial dealer partner to offer sales, service and parts for Mullen Automotive’s commercial vehicle lineup. An RMA official noted that there is “significant pent-up customer demand for Mullen to fulfill” with “many customers looking at me to find product for their companies.” Alling the order “a real vote of confidence in our company,” Mullen noted that RMA definitely sees a future in commercial EVs. Mullen’s commercial EV lineup includes Class 1-3 cargo van and cab chassis offerings and Bollinger Motors Class 4-6 chassis products; the company’s entire commercial vehicle lineup will be manufactured out of its Mississippi-based Advanced Manufacturing and Engineering Center (“AMEC”). “The Randy Marion Automotive team is fully aligned with our Class 1 EV plan and is well positioned to help us capitalize on our first mover advantage in the commercial EV segments,” said Mullen chair and CEO David Michery in the press release.
To view the full press release, visit https://ibn.fm/MvmUF
About Mullen Automotive Inc.
Mullen Automotive is a southern California-based automotive company building the next generation of electric vehicles that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. The Mullen FIVE, the company’s first electric crossover, is slated for delivery in 2025 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. In September 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and in December 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
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