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 has filed a preliminary proxy statement with the SEC to hold a stockholders' meeting to effect a reverse stock split. This has resulted in the company's shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:04 pm

US stocks edged higher following the release of jobless claims data. Tesla reported weaker-than-expected Q3 earnings and sales, missing Street consensus estimates. SeaStar Medical, Spectral AI, and Zapp Electric Vehicles saw significant stock increases, while Nxu, Grindrod Shipping, and Mullen Automotive experienced drops. Nxu announced a $3 million public offering, and Mullen Automotive filed a preliminary proxy statement for a reverse stock split.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 1:43 pm

Mullen Automotive Inc. (MULN) has filed a preliminary proxy statement with the SEC for a special stockholders' meeting on Dec 15, 2023, to authorize a reverse stock split of the company's common stock at an exchange ratio between 1-for-2 to 1-for-100. The primary focus will be to maintain a continued price of at least $1.00 per share on The Nasdaq Capital Market. The reverse stock split will only be implemented if necessary to regain compliance with Nasdaq Listing Rule 5550(a)(2).

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 12:33 pm

Mullen Automotive has provided an update on its commercial vehicle production. The company is on track to produce 150 Class 3 EV trucks by December 2023 and start Class 1 EV cargo van production and deliveries in Q4 2023. The production plan is aligned with current customer purchase orders and has enough capacity to meet additional demand.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:24 pm

Mullen Automotive, Inc. (NASDAQ:MULN) has appointed Marianne McInerney as Chief Strategy Officer. McInerney, who has nearly two decades of experience in the automotive and transportation industry, will focus on growth opportunities and strategic initiatives for Mullen's commercial, consumer vehicles, and governmental affairs. She will also oversee all state and federal governmental affairs for the company. Mullen recently announced several key milestones, including the delivery of its first Class 3 EV Cab Chassis Trucks and EPA certification for these trucks.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:04 pm

Mullen Automotive Inc. has confirmed that it has no existing or future plans for any agreement or arrangement with Lawrence Hardge or Global EV Technology, Inc. and EV Technology, LLC (EVT). The company had previously terminated an agreement with these parties regarding the development and licensing of certain technology to extend effective battery life. Mullen Automotive has agreed to allow Hardge to test his units on two of the company's vehicles at an EPA certified test facility, but no testing dates have been scheduled.

Portfolio Pulse from Charles Gross

October 04, 2023 | 10:05 am

Mullen Automotive, Inc. (NASDAQ:MULN) has delivered the first ten Class 3 EV Cab Chassis Trucks, invoiced at $630,000, to Randy Marion Automotive Group. These vehicles are part of a 1,000 vehicle order valued at $63 million. An additional 150 units are planned for delivery by the end of 2023, with the remainder to be delivered throughout 2024. The company recently received federal EPA certification and IRS approval as a 'qualified manufacturer', qualifying for up to $7,500 in federal EV tax credits.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:13 pm

Mullen Automotive (NASDAQ:MULN) CEO David Michery has provided an update to shareholders, highlighting the company's strong balance sheet and progress despite a challenging economic environment. The company has received EPA certification for Class 3 EV commercial vehicles, engaged Donohoe Advisory Associates to represent its interests in a Nasdaq hearing, and taken a firm stance against manipulative trading in its stock. Mullen has also received $279 million in purchase orders for its EV Vans and Trucks, started a $25 million stock buyback program, and launched its in-house fleet telematics solution.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 4:32 pm

Mullen Technologies has received EPA certification for its Class 3 EV commercial vehicles, a critical milestone that allows the company to start shipping vehicles to customers. The company's first Class 3 EV Cab Chassis Trucks began production on August 21, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 1:27 pm

Mullen Automotive, Inc. (NASDAQ:MULN) has announced that the New York Power Authority (NYPA) has purchased Mullen's Campus Delivery Cargo Vans following a successful EV pilot program. The 60-day pilot began in July 2023 and concluded in early September 2023. NYPA will use the vehicles for fleet operations at its St. Lawrence-Franklin D. Roosevelt Power Project. NYPA is also considering additional locations for Mullen's full lineup of commercial EVs.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 1:21 pm

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