Mullen Commemorates Start Of Class 3 Vehicle Production With Successful Commercial EV Launch Event; Mullen THREE, MSRP Starting At $68,500
Portfolio Pulse from Happy Mohamed
Mullen Automotive, Inc. (NASDAQ:MULN) has started production of its Class 3 electric vehicles (EVs) and held a launch event at its Tunica facility. The company plans to gradually increase its production rate throughout the year, aiming for a capacity of 3,000 vehicles annually per shift. Mullen also plans to add a second shift for Class 3 production, doubling the capacity to 6,000 vehicles per year. The Mullen THREE, the company's Class 3 EV truck, has a starting price of $68,500 and qualifies for $7,500 in federal tax incentives.
August 24, 2023 | 7:38 pm
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Mullen Automotive's commencement of Class 3 EV production and its plans to increase production capacity could potentially boost investor confidence and positively impact the company's stock price.
The commencement of production and the company's plans to increase production capacity indicate progress and growth, which are likely to be viewed positively by investors. This could lead to increased demand for MULN shares and a potential rise in the company's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100