Streetbeat News

MULN

Mullen Automotive, Inc.

https://mullenusa.com

Industry

Auto - Manufacturers

Mullen Automotive, Inc., an electric vehicle company, manufactures and distributes electric vehicles. It also operates CarHub, a digital platform that leverages AI to offer an interactive solution for buying, selling, and owning a car; and provides battery technology and emergency point-of-care solutions. The company was founded in 2014 and is based in Brea, California.

Open

1.73

Mkt cap

10M

Volume

1.3M

High

1.84

P/E Ratio

N/A

52-wk high

2400.00

Low

1.71

Div yield

N/A

52-wk low

1.71

Mullen Automotive, Inc. (NASDAQ:MULN) shares have dropped over 35% in the past five days. Despite this, Bollinger Motors, part of Mullen, has received orders for 40 B4, Class 4 EV trucks, valued at approximately $6 million. The Bollinger B4 is an all-electric commercial truck expected to begin production in mid-2024 and may be eligible for federal incentives. Mullen delivered 35 vehicles in fiscal 2023 with a positive gross margin and invoiced $9.2 million to Randy Marion Automotive Group. MULN shares are currently down 11.6% to $7.94.

Portfolio Pulse from Nabaparna Bhattacharya

January 19, 2024 | 6:14 pm

Mullen Automotive has confirmed that no new warrants have been issued and no existing warrants have been exercised since the reverse stock split on December 21, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 5:38 pm

In Friday's intraday session, several consumer discretionary stocks experienced significant movements. Kirkland's (KIRK) saw a 13.5% increase, while iRobot (IRBT) faced a steep decline of 28.2%. Other notable gainers included Allied Gaming (AGAE), Codere Online Luxembourg (CDRO), Lanvin Group Hldgs (LANV), Wayfair (W), and Hall Of Fame Resort (HOFV). On the losing side, in addition to iRobot, were Singing Machine Co (MICS), Polished.com (POL), Mullen Automotive (MULN), Vision Marine (VMAR), and JX Luxventure (JXJT). Vision Marine's drop followed their Q1 earnings release three days prior.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 5:31 pm

Mullen Automotive has announced that Bollinger Motors, which it owns, has received orders for 40 B4, Class 4 electric trucks. The orders are valued at approximately $6 million.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:31 pm

Mullen Automotive reported that in FY23, it delivered a total of 35 vehicles. The company generated revenue of $366,000 from the sales of 25 Campus Urban Delivery Vehicles.

Portfolio Pulse from Charles Gross

January 16, 2024 | 11:20 pm

Mullen Automotive, Inc. (NASDAQ:MULN) has completed a new light-weight service truck body for the All-Electric Mullen THREE, in collaboration with Phenix Truck & Van and Knapheide. The vehicle is designed for Class 3 service body truck fleets used by municipalities and public utilities. The Mullen THREE offers a 125-mile range, a 1.5-hour Level 3 DC charge time, and a payload over 5,800 lbs. It is now on display at CES 2024 and will be featured at upcoming industry expos. The partnership aims to cater to the needs of entities transitioning to electric vehicles, particularly in states with incentives for such a switch.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 2:39 pm

Mullen Automotive, Inc. (NASDAQ:MULN) has submitted a pre-application for a Department of Energy loan to support its expansion into domestic battery manufacturing. The company plans to produce 150,000 battery packs by 2032 and is committed to transitioning EV and component manufacturing to the U.S. The loan will also support capital investment in Mullen's new facility in California. MULN shares dropped 3.07% to $13.88.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 6:32 pm

Mullen Automotive, Inc. has submitted a pre-application for a $50 million ATVM loan from the U.S. Department of Energy to support domestic battery manufacturing. The loan would help fund the production of an estimated 150,000 battery packs through 2032, aiding Mullen's expansion and supporting its EVs assembled in the U.S. The capital would be used for plant equipment and tooling at a new facility in Fullerton, California.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 2:34 pm

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose after the company announced its subsidiary submitted a concept paper for a $50 million DOE grant to support battery manufacturing in the U.S. The funds would be used for plant equipment and tooling at Mullen's new facility in Fullerton, California. The company also reported delivering 241 electric vehicles in December, invoicing $12.55 million, and plans to scale production in 2024.

Portfolio Pulse from Erica Kollmann

January 09, 2024 | 10:23 pm

Mullen Automotive, Inc. has submitted a Concept Paper to the DOE for grant funding to support domestic battery materials processing. The company plans to produce 150,000 battery packs by 2032 and seeks a $50 million grant for capital investment in its new Fullerton, California facility. This initiative is part of a broader $3.5 billion program to strengthen U.S. battery material manufacturing and aims to reduce battery costs by over 20%, enhancing Mullen's competitiveness in the EV market.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:46 pm

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