Mullen Announces 30-Unit Purchase Order fFr Mullen-GO Commercial Urban Delivery Vehicle From Newgate Motor Group In Ireland; Initial Purchase Order Valued At ~$321K With Subsequent Orders Anticipated To Follow
Portfolio Pulse from Happy Mohamed
Mullen Automotive, Inc. (NASDAQ: MULN) has announced a 30-unit purchase order for the Mullen-GO Commercial Urban Delivery EV from Newgate Motor Group in Ireland. The initial order is valued at approximately $321K, with subsequent orders expected. This represents Mullen's first sale of vehicles for delivery outside of the U.S. and into the European market. The order is expected to be reflected in Mullen's current fiscal quarter reporting.
July 17, 2023 | 12:17 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Mullen Automotive's announcement of a 30-unit purchase order from Newgate Motor Group represents its first sale into the European market, potentially opening up new revenue streams. The order is expected to be reflected in the current fiscal quarter.
The news directly pertains to Mullen Automotive as it marks their first sale into the European market. This could potentially open up new revenue streams for the company and positively impact their stock price. The order is also expected to be reflected in the current fiscal quarter, indicating a potential positive impact on their financial results.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100