Mullen Automotive Teams Up with Eco Auto to Drive Commercial EVs in New England: Details
Portfolio Pulse from Anusuya Lahiri
Mullen Automotive (NASDAQ:MULN) has partnered with Eco Auto, a zero-emissions commercial vehicle dealership in Boston, to expand its commercial EV presence in New England. Eco Auto's initial order includes 10 Mullen ONE cargo vans and 3 Mullen THREE trucks. This partnership aims to lower barriers to sustainable transportation for municipalities and businesses. Despite recent positive developments, Mullen Automotive reported a significant net loss and its stock has plunged over 99% in the last 12 months.
June 10, 2024 | 5:05 pm
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Mullen Automotive has partnered with Eco Auto to expand its commercial EV presence in New England. Eco Auto's initial order includes 10 Mullen ONE cargo vans and 3 Mullen THREE trucks. Despite this positive development, Mullen reported a significant net loss and its stock has plunged over 99% in the last 12 months.
The partnership with Eco Auto is a positive development for Mullen Automotive as it expands its market presence in a key region. However, the company's significant net loss and the drastic decline in its stock price over the past year may temper investor enthusiasm. The initial order from Eco Auto is a step in the right direction, but the financial challenges and stock performance issues remain significant concerns.
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