Mullen Automotive Gears Up $210M EV Deal In Dubai – Delivers First Units To Volt Mobility
Portfolio Pulse from Nabaparna Bhattacharya
Mullen Automotive announced a $210 million EV deal with Volt Mobility in Dubai, delivering the first units of Mullen ONE and Mullen THREE vehicles. The company is expanding its presence in the UAE and setting up a support network for Volt's fleet. Mullen also completed a 1-for-100 reverse stock split to meet Nasdaq requirements. Bollinger Motors, a Mullen subsidiary, announced the MSRP for its B4 electric truck and began production.
September 20, 2024 | 4:04 pm
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Mullen Automotive announced a significant $210 million EV deal with Volt Mobility in Dubai, marking a major expansion into the UAE market. The company is delivering its first electric vehicles and setting up a support network. Additionally, Mullen completed a reverse stock split to comply with Nasdaq requirements, and its subsidiary Bollinger Motors announced pricing for its B4 electric truck.
The $210 million deal with Volt Mobility is a significant revenue opportunity for Mullen, indicating strong demand for its EVs. The expansion into the UAE market and setting up a support network further solidifies its international presence. The reverse stock split helps maintain Nasdaq listing, which is crucial for investor confidence. Bollinger's B4 truck pricing and production commencement add to the positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100