Mullen Announces European Distributor, GAMA, Purchases 29 Mullen GOs for Balkans Region
July 24 2024 - 8:30AM
via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an electric vehicle (“EV”) manufacturer, announces
today GAMA, one of Mullen international distributors, has
placed an order for 29 Mullen GOs, the Company’s commercial micro
urban delivery vehicle. The order is valued at $304,000 USD with
shipment to GAMA planned for early August 2024.
GAMA was recently announced as one of Mullen’s European
distribution partners for southeastern Europe covering the Balkans
Region, which includes Bosnia and Herzegovina, Serbia, Montenegro,
Croatia, Slovenia, Macedonia, Albania, Greece and Bulgaria. GAMA
represents Mullen’s full commercial electric vehicle product
line.
GAMA has extensive experience with electric vehicles in the
Balkan market and has distributed more than 300 vehicles in the
last year including private and municipal sales. GAMA has a strong
reputation responding to and winning public tenders for local
government opportunities. GAMA’s distribution network includes
eight sub dealers in the Balkan Region supporting sales, service
and parts operation and is currently building a new facility in
Belgrade.
GAMA’s 29-unit Mullen GO order, valued at $304,000 USD, is part
of the previously announced 53-unit commercial vehicle order,
consisting of urban delivery vehicles and commercial vans and
trucks. Additional planned and yet to be ordered vehicles include
the Mullen ONE and Mullen THREE commercial EV cargo vans and
trucks.
“GAMA is seeing strong interest in our commercial EVs and we are
delighted to begin vehicle deliveries in the Balkans region,” said
David Michery, CEO and chairman of Mullen Automotive. “As
highlighted previously, the Mullen GO is the perfect micro urban
delivery vehicle for small and congested old world European
streets.”
The Mullen-GO is the Company’s urban commercial electric
delivery vehicle, which is designed to bridge the gap between the
growing demand for quick deliveries and space constraints in dense
cities throughout Europe. The commercial EV’s compact design allows
it to easily handle the stop/go and weave in/out typical of narrow
urban European streets, getting to the customer's door faster, all
while decreasing pollution and congestion levels. The Mullen-GO is
EU standard homologated, certified, and ready for European
sale.
About MullenMullen Automotive (NASDAQ: MULN) is
a Southern California-based automotive company building the next
generation of commercial electric vehicles (“EVs”) with two United
States-based vehicle plants located in Tunica, Mississippi,
(120,000 square feet) and Mishawaka, Indiana (650,000 square feet).
In August 2023, Mullen began commercial vehicle production in
Tunica. In September 2023, Mullen received IRS approval for federal
EV tax credits on its commercial vehicles with a Qualified
Manufacturer designation that offers eligible customers up to
$7,500 per vehicle. As of January 2024, both the Mullen ONE, a
Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis
truck, are California Air Resource Board (“CARB”) and EPA certified
and available for sale in the U.S. Recently, CARB issued HVIP
approval on the Mullen THREE, Class 3 EV truck, providing up to a
$45,000 cash voucher at time of vehicle purchase. The Company has
also recently expanded its commercial dealer network with the
addition of Pritchard EV, National Auto Fleet Group, Ziegler Truck
Group, Range Truck Group and Eco Auto, providing sales and service
coverage in key Midwest, West Coast and Pacific Northwest and New
England markets. The Company also recently announced Foreign Trade
Zone (“FTZ”) status approval for its Tunica, Mississippi,
commercial vehicle manufacturing center. FTZ approval provides a
number of benefits, including deferment of duties owed and
elimination of duties on exported vehicles.
To learn more about the Company, visit www.MullenUSA.com.
Forward-Looking StatementsCertain statements in
this press release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Exchange Act of 1934, as amended. Any statements
contained in this press release that are not statements of
historical fact may be deemed forward-looking statements. Words
such as "continue," "will," "may," "could," "should," "expect,"
"expected," "plans," "intend," "anticipate," "believe," "estimate,"
"predict," "potential" and similar expressions are intended to
identify such forward-looking statements. All forward-looking
statements involve significant risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements, many of which are
generally outside the control of Mullen and are difficult to
predict. Examples of such risks and uncertainties include, but are
not limited to, the timing of shipment and delivery of the ordered
vehicles, if GAMA will timely make required deposits and payments
due, whether GAMA will order additional vehicles, including the
contemplated Mullen ONE and Mullen THREE orders, whether GAMA will
be successful in selling Mullen’s vehicles and whether GAMA will
get purchase orders for Mullen vehicles from government agencies.
Additional examples of such risks and uncertainties include but are
not limited to: (i) ability (or inability) to obtain additional
financing in sufficient amounts or on acceptable terms when needed;
(ii) ability to maintain existing, and secure additional, contracts
with manufacturers, parts and other service providers relating to
its business; (iii) ability to successfully expand in existing
markets and enter new markets; (iv) ability to successfully manage
and integrate any acquisitions of businesses, solutions or
technologies; (v) unanticipated operating costs, transaction costs
and actual or contingent liabilities; (vi) the ability to attract
and retain qualified employees and key personnel; (vii) adverse
effects of increased competition on Mullen’s business; (viii)
changes in government licensing and regulation that may adversely
affect Mullen’s business; (ix) the risk that changes in consumer
behavior could adversely affect Mullen’s business; (x) ability to
protect intellectual property; and (xi) local, industry and general
business and economic conditions. Additional factors that could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements can be found in the most
recent annual report on Form 10-K, quarterly reports on Form 10-Q
and current reports on Form 8-K filed by Mullen with the Securities
and Exchange Commission. Mullen anticipates that subsequent events
and developments may cause its plans, intentions and expectations
to change. Mullen assumes no obligation, and it specifically
disclaims any intention or obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by law.
Forward-looking statements speak only as of the date they are made
and should not be relied upon as representing Mullen’s plans and
expectations as of any subsequent date.
Contact:Mullen Automotive Inc.+1 (714)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
- GAMA is Mullen’s newest commercial EV distributor for
Europe
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