InvestorNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Closes on Acquisition of ELMS Plant, Assets and IP
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has officially closed on its previously announced acquisition of Electric Last Mile Solutions (“ELMS”) assets, including all IP and a factory located in Mishawaka, Indiana. The all-cash, $105 million transaction was completed on Nov. 30, 2022. According to the announcement, the ELMS acquisition allows Mullen to enter the commercial market much earlier than previously planned.…