Mullen Automotive Ships Initial Commercial EVs Under $210M Purchase Contract With Volt Mobility, Based In The United Arab Emirates
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive has begun shipping electric vehicles under a $210 million contract with UAE-based Volt Mobility. The agreement involves the purchase of 3,000 EV cargo vans and trucks over 16 months, with revenue recognition starting in Q1 2024.
September 04, 2024 | 1:16 pm
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Mullen Automotive has shipped its first batch of EVs under a $210 million contract with Volt Mobility, marking a significant revenue opportunity starting in Q1 2024.
The shipment of EVs under a $210 million contract is a significant milestone for Mullen Automotive, indicating strong demand and a substantial revenue stream starting in Q1 2024. This positive development is likely to boost investor confidence and potentially drive the stock price up in the short term.
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