Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has released a commercial vehicle production update for its Class 3 EV cab chassis trucks and Class 1 EV cargo vans. According to the report, the company is on track to produce 150 Class 3 EV trucks through December 2023 and to begin production and delivery of its Class 1 EV cargo van in Q4 2023. Specifically, the report noted that the company’s Class 3 production plans for the remainder of 2023 include an estimated 150 vehicles to be produced and delivered to Randy Marion Automotive Group (“RMA”), noting that the first 10 Class 3 vehicles were delivered to RMA last month. In addition, Mullen expects to deliver the balance of the 1,000 Class 3 vehicle purchase order in calendar year 2024. Mullen’s Class 1 EV cargo van production is on track to begin in Q4 2023, with the production of an estimated 300 vehicles initially planned and increasing numbers projected when the facility is in full production.
In summary, the report noted that total planned commercial vehicle production for calendar years 2023 and 2024 includes 150 Class 3 EV cab chassis trucks and 300 Class 1 EV cargo vans in 2023, with 850 Class 3 EV cab chassis trucks and 6,000 Class 1 EV cargo vans planned for 2024. “I am proud to say both our Class 3 production acceleration and our Class 1 manufacturing preparations are on track at our Tunica assembly plant,” said Mullen Automotive CEO and chair David Michery in the press release. “We have firmed up our production schedules for 2024, which align with our existing customer orders and provide ample room for additional customer demand.”
To view the full press release, visit https://ibn.fm/n3x43
About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover; the Mullen I-GO Commercial Urban Delivery EV; the 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. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all 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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