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Tag: NASD:MULN

  • Mullen (MULN) Stock Rises On Renewed EV Strategy

    Mullen (MULN) Stock Rises On Renewed EV Strategy

    At the most recent check today, Mullen Automotive, Inc. (NASDAQ: MULN) shares were increasing significantly, rising 270.13% to $19.95. This surge follows a well-publicized relaunch of the Mullen FIVE RS, a high-performance crossover EV intended to compete with premium rivals in the worldwide market.

    A Planned Launch in Europe After the Battery Milestone

    Recently, Mullen Automotive (MULN) finished evaluating the performance of 800V batteries at the TÜV SÜD laboratory in Munich, Germany. Now that this crucial stage is over, Mullen has started testing vehicles on the road, indicating that it is moving closer to regulatory homologation and ultimate validation.

    In December 2025, the FIVE RS will go on sale in Germany. Throughout 2026, there are plans to expand into additional European regions as well as the United Arab Emirates and South Africa. When the vehicle successfully establishes a foothold overseas, a U.S. launch will occur.

    Strategic Partnership with a Prominent Automobile Manufacturer

    To ensure exceptional construction quality and performance, Mullen has partnered with Faissner Petermeier Fahrzeugtechnik AG (FPF), a German engineering firm well-known for its work with premium manufacturers including Piech Automotive, Gumpert, and BMW.

    FPF has decades of experience in precise vehicle manufacture and component development, as well as IATF standard certification and Federal Motor Transport Authority compliance in Germany. Mullen hopes to use this partnership to further its dedication to producing cars that lead the industry.

    FIVE RS: An Emerging Technological Powerhouse

    With a peak speed of 200 mph and an acceleration time of less than two seconds from 0 to 60 mph, the Mullen FIVE RS is designed to be an ultra-high-performance EV. With its 800-volt system, two-speed gearbox, all-wheel drive, and more than 1,100 horsepower, the car has state-of-the-art features.

    Introducing the FIVE RS has long been a goal, highlighting its objective of combining high performance with electric innovation. Mullen is positioning itself to have a big influence on the global EV landscape with strong partnerships and ongoing testing.

  • Extended Session Brings Relief To Mullen (MULN) Shares

    Extended Session Brings Relief To Mullen (MULN) Shares

    Mullen Automotive, Inc. (NASDAQ: MULN) had a notable rebound in after-market activity, with its shares gaining 6.79% to $2.33, closing at $2.18, after a sharp 39.44% decline during regular business hours. The resurgence was sparked by the company’s announcement of a strategic alliance to further its battery technology and domestic manufacturing capabilities.

    Mullen to Collaborate with Enable Greentech

    Mullen and Enpower Greentech Inc. (EGI), a leading worldwide pioneer in the production of lithium-ion batteries, have signed a Partnership and Supply Agreement. The development and manufacturing of EGI’s cutting-edge SWIFT Series semi solid-state batteries (SSBs) are the main objectives of this cooperation. Aerospace, maritime, material handling, medical devices, drones, and power tools are just a few of the many commercial and industrial uses for these batteries.

    Mullen’s Battery Center in Fullerton, California, will produce the batteries locally. Three production lines for lithium-iron-phosphate (LFP) and polymer-based battery modules are now housed in this facility. MULN will be able to expand its technical capacity and begin full production by early 2026 thanks to the agreement.

    Mullen Boosting American Battery Supply Chains

    With this agreement, Mullen intends to further solidify its commitment to U.S.-made battery solutions, helping to mitigate the risks associated with global supply chains and rising import taxes. EGI’s investment in domestic manufacturing, which plans to begin production in its Ann Arbor, Michigan facility by late Q3 2025 and continue to expand through 2026, supports this strategy. This will make it possible to produce pouch cells with superior performance and no tariffs that are specifically designed for the American market.

    Execution and Leadership for Future Development

    In charge of this strategic endeavor is John Taylor, President of Mullen’s Commercial Division. Under his supervision, this crucial project is expected to be finished on time and mark a major turning point in MULN’s advancement of battery technology and electric mobility solutions.

  • Mullen Automotive (MULN) Gains Momentum With Key Government Contract

    Mullen Automotive (MULN) Gains Momentum With Key Government Contract

    Following the news of a strategic alliance, shares of Mullen Automotive, Inc. (NASDAQ: MULN) are rising significantly. Due to its inclusion in a significant government purchasing contract, MULN shares took a 96.40% jump to $4.64 as of the most recent market check.

    Mullen Automotive Signs a Contract with Sourcewell

    Mullen Automotive has formally added its all-electric commercial vehicle portfolio to National Auto Fleet Group’s (NAFG) Sourcewell contract. This includes the Mullen ONE Class 1 EV cargo van and the Mullen THREE Class 3 EV cab chassis truck. This clearance expedites the purchase process for public enterprises by granting instant eligibility for government sector procurement through NAFG.

    Improved Availability for Government Organizations

    Mullen Automotive’s commercial EVs may now be acquired by local and educational organizations without the need for drawn-out bidding processes because of their placement within Sourcewell. Competitively solicited contracts are offered by Sourcewell, a government organization that helps with public sector acquisitions, to speed up procurement and cut expenses.

    With two awarded contracts, National Auto Fleet Group, a reputable commercial vehicle dealer with headquarters in California, is an authorized Sourcewell distributor. The firm specializes in supplying educational institutions and state and municipal government organizations with fleet automobiles.

    This contract’s inclusion of Mullen’s cars streamlines the procurement process, enabling government clients to avoid drawn-out contractual talks and hasten fleet electrification.

    Principal Advantages for Municipal Fleets

    Municipalities now have a more effective option to acquire electric cars thanks to Mullen’s EVs being added to the Sourcewell contract. This action guarantees that public sector organizations may switch to sustainable energy solutions with the least amount of administrative burden possible, in addition to supporting sustainability activities. The accessibility and uptake of MULN’s vehicles are further reinforced by NAFG’s established connections with municipal clients.

    Incentive for Mullen THREE Purchasers

    NAFG is an authorized dealer under the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Program (HVIP) of the California Air Resources Board (CARB). With a suggested retail price of $68,500, the 2024 Mullen THREE is eligible for a cash voucher of up to $45,000 under this scheme.

    MULN is establishing itself as a major player in the commercial EV market by utilizing strategic alliances to promote accessibility, affordability, and sustainability in government fleet electrification.

  • Mullen (MULN) Gains Pre-Hours Momentum With EV Rental New

    Mullen (MULN) Gains Pre-Hours Momentum With EV Rental New

    On the U.S. stock charts, Mullen Automotive, Inc. (NASDAQ: MULN) shares are seeing a notable increase today. Following an incredible 74.27% spike the day before, when it ended at $2.98, MULN stock was up 11.74% as of the most recent pre-market session, trading at $3.33. A recent strategic move in the electric vehicle (EV) market is responsible for this spike.

    Mullen ONE Available for Rental on Turo

    In a significant development, Mullen (MULN) announced that its Class 1 EV cargo van, the Mullen ONE, is now available for vehicle rental on Turo, the world’s largest vehicle-sharing marketplace. Parasol Strategic Solutions, a prominent Turo host based in Florida, identified a growing need for a compact, versatile cargo van within their market.

    Their vast knowledge of logistics and vehicle sharing has shown that there is a growing need for compact, effective cargo vans that can move across cities with ease and support environmentally friendly transportation options.

    An Eco-Friendly and Effective Business Solution

    Businesses looking for on-demand, affordable transportation choices might find what they need with the Mullen ONE, an environmentally responsible and useful solution. Parasol will launch the Mullen ONE in Jacksonville, Florida, as part of an initial pilot program for its expanding electric vehicle rental platform.

    A second pilot for the Mullen ONE is slated to begin in Baltimore, Maryland. These pilots provide businesses with the opportunity to experience the performance and benefits of Mullen’s Class 1 EV cargo van firsthand.

    Lineup and Incentives for Commercial EVs

    The Class 1 Mullen ONE cargo van and the Class 3 Mullen THREE cab chassis truck are two of Mullen’s commercial EV models that are intended for last-mile deliveries in cities. Both cars have complete EPA and CARB certifications and satisfy U.S. Federal Motor Vehicle Safety Standards.

    The Mullen THREE is eligible for significant incentives, such as a $45,000 cash refund through California’s HVIP and a $15,000 rebate through the Massachusetts MOR-EV program. Similarly, the Mullen ONE is eligible for a $3,500 rebate in Massachusetts, making both vehicles a compelling option for commercial fleet customers, particularly with the added benefit of the $7,500 Federal Tax Incentive.

  • The Story Behind Mullen’s (MULN) Stock Rise: Advancements In Battery Operations

    The Story Behind Mullen’s (MULN) Stock Rise: Advancements In Battery Operations

    Mullen Automotive, Inc. (NASDAQ: MULN) is currently experiencing a notable ascent on the US stock market, marking a 35.52% increase to $3.70. This surge in MULN stock during today’s session can be attributed to a significant advancement in its battery facility endeavors.

    Mullen Automotive (MULN) has announced the successful completion of the initial phase of integrating its battery line at its cutting-edge energy facility in Fullerton, California. Situated in Southern California, this facility is exclusively dedicated to the production of next-generation EV battery packs, proudly manufactured in America.

    Such a milestone stands as a pivotal step in Mullen’s steadfast commitment to emission reduction and lessening dependency on crucial battery constituents imported from overseas. The operationalization of this plant has been meticulously executed through a series of meticulously planned stages, commencing with facility preparations and swiftly progressing to the relocation and installation of battery assembly line equipment.

    The culmination of phase one initiatives has seen the seamless initiation, fine-tuning, and early-stage activation of the initial two battery assembly lines. Anticipated to commence production early in 2025, the initiation of production at this facility is poised to invigorate the local economy through the creation of employment opportunities.

    With volume production on the horizon, Mullen Automotive anticipates employing over 200 individuals for both battery production and operational support. Beyond being a strategic investment in Mullen Automotive’s future, the establishment of this new battery assembly plant underscores the company’s steadfast dedication to domestic battery production.

    Recognizing the critical role that battery packs play in its supply chain, Mullen is bolstering its market stance while championing the shift towards American-manufactured battery components. In a recent milestone, Mullen Automotive celebrated the production of its 500th commercial vehicle at its Tunica, Mississippi, manufacturing and assembly facility.

    Presently, the company boasts 18 active commercial vehicle pilots with fleets, municipalities, universities, and campuses. With an increasing international demand for its vehicles, Mullen Automotive is poised to embark on an expansion into the European market next month.

    In tandem with its international endeavors, the company aims to fortify its domestic distribution network by establishing new dealer points to further penetrate the commercial EV market.