News Archives - Page 23 of 50

FridayJun 16, 2023 10:52 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Corrects Shareholder Letter to Reflect $0.38 Per Share

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has released a letter to its shareholders designed to address the decrease in the company’s share price. The letter noted that earlier this week, the company’s common stock closed at $0.32 per share, down 90% since the end of March. The company currently trades at a discount to its current cash position of $135 million or $0.38 per share. The letter noted several key factors, including $86.7 million of cash available to operations and $0.68 of cash value per share as of March 31, 2023, and the completion of two…

ThursdayJun 15, 2023 12:05 pm

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Releases Shareholder Letter Featuring Status Update

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has issued a shareholder letter providing a business update and responding to questions regarding the company’s share price, which has declined significantly since March 31, 2023; the company currently trades at a discount to its current cash position of $135 million, or $.038 per share. The letter noted that the company anticipates meeting previously announced objectives regarding the production and sales of its class 3 commercial vehicles; management also noted that the company has completed two acquisitions, which have added “valuable, unencumbered assets to the balance sheet.” Those assets include…

MondayJun 12, 2023 10:05 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Announces Collaboration with Phenix to Develop Light-Weight EV Truck Body

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is partnering with Phenix Truck Bodies & Van Equipment to develop a light-weight truck body for its class 3 EV. One of California’s largest providers of work trucks, equipment and specialty truck bodies, Phenix has an impressive list of long-term customers, including Southern California Edison, Southern California Gas, Los Angeles County Fire Department, SDG&E, USDA Forest Service and LA County Department of Public Works. MULN noted that the majority of commercial vehicles sold in the United States are sold through upfitters such as Phenix. The collaboration between the two companies…

ThursdayMay 25, 2023 1:57 pm

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Reports on Participation in 2023 Government Fleet Event

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has completed its inaugural participation at the Government Fleet Expo and Conference (“GFX”), the largest annual conference for public fleets in the nation. The conference was held May 22–25, in Dallas. During the event, Mullen showcased several of its offerings, including its commercial EVs, the Mullen ONE and Mullen THREE. The company reported that attendees met with Mullen technology, sales and product marketing team members to talk about their fleet needs, with many signing up for vehicle demos. The company also participated in its first commercial drive event: GFX’s Block…

TuesdayMay 23, 2023 2:33 pm

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Announces Strategic Partnership with Amerit Fleet Solutions

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced Amerit Fleet Solutions as the provider for national service and warranty work, supporting Mullen’s commercial vehicle lineup, including the Mullen CAMPUS – EV Cargo Van, the Mullen ONE – Class 1 EV Van and the Mullen THREE – Class 3 EV Cab Chassis Truck programs. According to the announcement, Amerit will provide national fleet service and warranty repair work for these programs and, prior to launch, will be working closely with the Mullen commercial product team and vehicle technicians in Troy, Michigan, and Tunica, Mississippi, to train on…

ThursdayMay 18, 2023 11:45 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Reports that Common Stock Has Met NASDAQ $1 Minimum Bid Price Requirement

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has reported that its stock has traded above NASDAQ’s $1 minimum bid price requirement for 10 consecutive days, a key guideline to meet NASDAQ trading requirements. In September 2022, the company was notified by NASDAQ that its common stock no longer met the minimum $1 bid price per share requirement. Consequently, the company was given 180 calendar days to regain compliance; that deadline was extended another 180 days earlier this year. In an effort to meet the requirement, Mullen implemented a reverse stock split, effective May 4, 2023. As a…

WednesdayMay 17, 2023 11:26 am

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN), NRTC Commence Class 3 Assembly Line Installation and Integration

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that vehicle production will begin in July 2023 at Mullen’s Manufacturing Center in Tunica, Mississippi. According to the announcement, Mullen’s manufacturing group is collaborating with NRTC Automation (“NRTC”) out of Birmingham, Alabama, for Class 3 assembly line installation and integration, including all robotics and automation systems for vehicle production. NRTC will support Mullen’s Class 3 operation through launch and provide ongoing support of the production as Mullen ramps up to meet the full market demand from its commercial customers. “It’s gratifying to see our Class 3 vehicle production…

MondayMay 15, 2023 2:12 pm

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Reports on Business Update, EMM Testing and Installation

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has provided an update for stockholders on key components of its business. The update covered factory activities in Mishawaka, Indiana, and Tunica, Mississippi, as well as developments in Mullen Advanced Energy Operations, Bollinger Motors commercial vehicles 4-6, Mullen commercial vehicles Class 1 and 3 and the Mullen FIVE EV crossover program. In part, the update noted that on March 30, 2023, the MGT Lease Company, a national fleet sales and leasing provider, received delivery of Mullen EV cargo vans; shortly thereafter, MGT placed a $15.8 million order for 250 all-electric commercial…

ThursdayMay 11, 2023 2:20 pm

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Secures $15,755,000 Vehicle Purchase Agreement with MGT

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced its entry into a vehicle purchase agreement with MGT Lease Company (“MGT”), a national fleet leasing provider, to purchase 250 all-electric commercial class 3 cab chassis EV trucks in a contract valued at $15,755,000. The vehicles are slated for delivery beginning in August 2023, with complete fulfillment of the purchase agreement to occur by December 2023. Randy Marion Automotive Group, a distributor of Mullen’s commercial EVs, will fulfill the vehicle orders. “Our agreement with MGT enables them to offer their fleet customers a competitive commercial EV vehicle offering,…

ThursdayMay 04, 2023 11:31 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Releases Customer Pricing for Two Models, Notes 1-for 25 Reverse Stock Split

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is releasing customer pricing for its Class 1 EV cargo van; the company announced that the starting price for the EV van will be $34,500 and the class 3 EV cab chassis trucks will start at $68,500. The announcement comes as the company has delivered 19 EV cargo vans to date with 20 more planned for this month, along with an anticipated purchase order for 200 more expected this month. The company previously announced that it had received a 1,000-unit class 3 EV truck purchase order from the Randy Marion…

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