Mullen Says It Is In Full Commercial EV Production With Class 1 And Class 3 Vehicles, Bollinger Motors Focused On Class 4-6 Vehicles With Class 4 Production Starting In Second Half 2024; Says It Has Achieved Positive Gross Margin Per Class 1 And Class 3 Vehicles Invoiced
Portfolio Pulse from Benzinga Newsdesk
Mullen Technologies announces it has commenced full commercial production of Class 1 and Class 3 electric vehicles (EVs), achieving positive gross margins on these classes. Bollinger Motors, part of Mullen, focuses on Class 4-6 EVs, with Class 4 production slated to begin in H2 2024.
February 26, 2024 | 3:02 pm
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Mullen Technologies has started full commercial production of Class 1 and Class 3 EVs, achieving positive gross margins on these vehicles. It also plans to expand into Class 4-6 EVs through Bollinger Motors, starting in the second half of 2024.
The announcement of full commercial production and positive gross margins for Class 1 and Class 3 EVs indicates strong operational progress and financial health, likely boosting investor confidence. The expansion into Class 4-6 EVs further highlights growth potential, positively impacting MULN's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100