Mullen Delivers 50 Class 1 EV Cargo Vans And Invoices Randy Marion Automotive Group For $1,680,000
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive, Inc. has delivered 50 Class 1 EV cargo vans to Randy Marion Automotive Group, invoicing them for $1,680,000. The company plans to deliver a total of 285 vans within the next five business days, contributing to over $6 million invoiced for such vehicles in the fiscal first quarter. These deliveries are part of a larger 6,000 vehicle order worth $200 million, with the majority to be delivered by the end of 2024. The Mullen ONE van is designed for last-mile delivery and is expected to be the first EV cargo van in the U.S. Class 1 commercial vehicle segment.
December 28, 2023 | 2:00 pm
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Mullen Automotive has successfully delivered 50 Class 1 EV cargo vans and invoiced Randy Marion Automotive Group for $1,680,000. They are on track to deliver more within the next five business days, indicating strong revenue growth for the quarter.
The delivery of vehicles and the substantial invoicing amount demonstrate Mullen's ability to fulfill orders and generate revenue, which is likely to be viewed positively by investors. The news indicates progress in their business operations and could lead to increased investor confidence, potentially driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100