Mullen Inks Class 3 Vehicle Purchase Order With NRTC Automation
Portfolio Pulse from Lekha Gupta
Mullen Automotive Inc (NASDAQ:MULN) has received a multiunit vehicle purchase order from NRTC Automation Group for three all-electric commercial Class 3 Mullen trucks, with deliveries expected to begin in Q4 2023. Mullen recently produced its first Mullen THREE at its Mississippi facility and plans to gradually ramp up production to 3,000 vehicles a year, with a potential increase to 6,000 vehicles per year. MULN shares are currently down by 13.45%.
August 28, 2023 | 3:55 pm
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Mullen Automotive has received a significant order from NRTC Automation Group, indicating demand for its electric vehicles. However, the company's stock is currently down.
The order from NRTC Automation Group is a positive development for Mullen Automotive, indicating demand for its electric vehicles. However, despite this positive news, the company's stock is currently down, suggesting that other factors may be influencing its stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100