ThursdayFeb 13, 2025 1:18 pm

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Announces 1-for-60 Reverse Stock Split to Maintain Nasdaq Listing

Mullen Automotive (NASDAQ: MULN), 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…

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ThursdayFeb 13, 2025 10:30 am

GreenCarNewsBreaks – Tesla Inc. (NASDAQ: TSLA) Secures $400 Million U.S. Government Contract for Armored Electric Vehicles

Tesla (NASDAQ: TSLA) has secured a $400 million contract with the U.S. Department of State to supply armored electric vehicles, according to The Telegraph. The deal is part of the government's push to modernize its fleet with advanced, sustainable technology. The contract spans five years, with deliveries set to begin later this year. As of Feb. 13, 2025, Tesla's stock is trading at $336.51, up $7.98 (2.43%) from the previous close. To view the full article, visit https://ibn.fm/3wbdB About Tesla Tesla's mission is to accelerate the world's transition to sustainable energy through increasingly affordable electric vehicles and energy products. Founded…

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TuesdayFeb 11, 2025 9:10 am

GreenCarNewsBreaks – Tesla Inc. (NASDAQ: TSLA) Stock Target Cut as Analyst Cites CEO’s Political Risks

Tesla (NASDAQ: TSLA) saw its price target reduced from $492 to $474 by Stifel analyst Stephen Gengaro, who maintained a “Buy” rating despite concerns over CEO Elon Musk’s political activities. Gengaro noted that while Tesla’s long-term vision includes a lower-priced vehicle and advancements in autonomous driving and robotics, consumer sentiment and sales could be impacted by Musk’s increasing political involvement. As of the latest trading session, Tesla’s stock closed at $350.73, marking a 3% decline for the day. Over the past week, the stock has dropped approximately 10%. To view the full article, visit https://ibn.fm/A4hgD About Tesla Tesla, Inc. is an American…

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ThursdayJan 30, 2025 10:35 am

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Expands U.S. Battery Production with Nikola Equipment Purchase

Mullen Automotive (NASDAQ: MULN) 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. To view…

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TuesdayJan 28, 2025 10:18 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Expands Presence on U.S. College Campuses with Additional EV Orders

Mullen Automotive (NASDAQ: MULN) announced the sale of five additional Mullen ONE Class 1 EV cargo vans to two major California universities in Los Angeles and the San Francisco Bay Area. The orders, fulfilled by EV dealers Papé Group and Randy Marion Automotive Group, highlight Mullen’s alignment with institutions prioritizing carbon emission reductions. CEO David Michery emphasized that repeat orders reflect the performance and value of Mullen's commercial EVs. The company’s lineup, including the Mullen ONE and Mullen THREE, meets stringent U.S. safety and emissions standards and continues to gain traction in campus and urban fleet applications nationwide. To view…

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MondayJan 27, 2025 10:54 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Reports FY2024 Results and Highlights Commercial EV Growth

Mullen Automotive (NASDAQ: MULN) reported a net loss of $471 million for the fiscal year ending Sept. 30, 2024, an improvement from the prior year's $964.9 million loss. FY2024 revenues increased to $1.1 million, driven by invoicing 443 commercial vehicles valued at $21 million, up from 35 vehicles invoiced in FY2023. The company achieved significant milestones, including the production and certification of its Class 1 and Class 3 EVs, as well as Bollinger Motors' Class 4 electric trucks, which generated $4.2 million in revenue since their September 2024 launch. CEO David Michery acknowledged challenges in the EV sector but emphasized…

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ThursdayJan 23, 2025 2:25 pm

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Addresses Nasdaq Compliance Notice Over Delayed SEC Filing

Mullen Automotive (NASDAQ: MULN) an electric vehicle manufacturer, disclosed it has received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the delay in filing its Annual Report on Form 10-K for the fiscal year ended Sept. 30, 2024. The notice does not immediately impact the trading of the company's stock on the Nasdaq Capital Market, but failure to address the issue could lead to delisting. Mullen has 60 days to file the report or submit a compliance plan, with the possibility of an extension up to 180 days if approved. The company aims to file the…

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ThursdayJan 02, 2025 8:00 am

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Launches Electric Van into Home Services Sector with Mr. Appliance Partnership

Mullen Automotive (NASDAQ: MULN) has sold its Mullen ONE All-Electric Cargo Van to Mr. Appliance of Owings Mills, Maryland, marking its entry into the home service market. This move positions the emerging electric vehicle manufacturer to address a critical industry need for cost-effective transportation solutions. With transportation costs accounting for over 30% of operating expenses in the home service sector, the Mullen ONE offers significant savings, including reduced fuel costs, lower maintenance expenses, and eligibility for a $7,500 federal tax credit. CEO David Michery highlighted the importance of this collaboration in supporting operational efficiency and sustainability for home service businesses. To…

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ThursdayDec 26, 2024 9:25 am

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Secures Class 3 EV Truck Order from Westland Floral

Mullen Automotive (NASDAQ: MULN) has received a purchase order for two Class 3 EV trucks, the Mullen THREE, from Westland Floral. The trucks, customized by Phenix Truck Bodies in California, were delivered through Pritchard Commercial and include California HVIP incentives, emphasizing cost and environmental benefits. The Mullen THREE, designed for urban last-mile delivery, boasts a 38-foot turning diameter, over 5,800 pounds of payload, and easy upfitting capabilities. Mullen’s EV lineup meets strict U.S. safety and emissions standards and offers substantial savings through state and federal incentive programs, including up to $45,000 in California rebates. To view the full press release,…

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ThursdayDec 19, 2024 11:12 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Expands U.S. Battery Manufacturing with Updated DOE Proposal

Mullen Automotive (NASDAQ: MULN) has submitted a revised plan to the U.S. Department of Energy (“DOE”) to bolster domestic battery production at its Mishawaka, Indiana, and Fullerton, California, facilities. The company has invested $12 million to date, with an additional $43 million planned, seeking $55 million in matching DOE funds under a program funded by the Bipartisan Infrastructure Law. Mullen’s plan prioritizes high-volume battery production at Mishawaka, a former GM Hummer facility, which will be upgraded to a capacity of 108,000 battery systems annually. Fullerton will focus on research, development, and prototype production. Mullen's strategic acquisitions and infrastructure investments position…

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