Mullen Announces 1,000-Vehicle Order Received from Randy Marion Automotive Group for Class 3 EV Cab Chassis Trucks
May 02 2023 - 11:25AM
via IBN -- Mullen Automotive, Inc. (NASDAQ:MULN) ("Mullen" or
the "Company"), an emerging electric vehicle ("EV") manufacturer,
today announces a 1,000-vehicle order for the Mullen THREE, a Class
3 low cab forward ("LCF") EV truck. The order has been placed by
the Randy Marion Automotive Group ("RMA"), with deliveries
commencing in August 2023. The purchase order is valued at $63
million and is between Randy Marion Isuzu, LLC, a member of the
Randy Marion Automotive Group, and Mullen Automotive.
The Mullen THREE is an efficient Class 3 low cab
forward EV truck featuring a tight turning diameter of 38 feet and
excellent visibility for superior maneuverability on narrow city
streets. This versatile chassis provides a clean top-of-rail for
easy upfitting with bodies up to 14 feet long and over 5,800 pounds
of payload. In addition, the design of the LCF chassis allows more
cargo volume within a given overall length.
"We continue to receive great interest for Mullen's
commercial vehicles, especially the Class 3 cab chassis," said Brad
Sigmon, Fleet GM and vice president of RMA Fleet Operations.
"Randy Marion continues to set the bar for commercial EV
dealerships in the U.S. We are proud to be working alongside RMA in
getting Mullen's commercial EVs, starting with our Class 1 and
Class 3 EVs, out to our commercial customers," said David Michery,
CEO and chairman of Mullen Automotive.
Mullen's commercial EV lineup includes Class 1 cargo vans and
Class 3 cab chassis offerings and Bollinger Motors Class 4-6
chassis products. Mullen's commercial vehicle lineup will be
manufactured out of the Advanced Manufacturing and Engineering
Center ("AMEC"), located just outside Tunica, Mississippi.
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based
automotive company building the next generation of electric
vehicles ("EVs") that will be manufactured in its two United
States-based assembly plants. Mullen's EV development portfolio
includes the Mullen FIVE EV Crossover, Mullen-GO Commercial Urban
Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors,
which features both the B1 and B2 electric SUV trucks and Class 4-6
commercial offerings. On Sept. 7, 2022, Bollinger Motors became a
majority-owned EV truck company of Mullen Automotive, and on Dec.
1, 2022, Mullen closed on the acquisition of all of Electric Last
Mile Solutions' ("ELMS") assets, including all IP and a
650,000-square-foot plant in Mishawaka, Indiana.
To learn more about the Company,
visit www.MullenUSA.com.
Forward-Looking Statements
Certain 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: (i) whether Mullen's commercial product launches
contemplated for 2023 will materialize within the slated timelines;
(ii) the timeline for delivery of the 1,000 Class 3 vehicle order;
the actual dollar value of the vehicle order; whether RMA will
honor the remaining terms of the referenced Firm Order Agreement;
whether Mullen's commercial vehicle lineup will be manufactured at
the stated locations and whether the Mullen vehicles will perform
as expected; (iii) Mullen's ability (or inability) to obtain
additional financing in sufficient amounts or on acceptable terms
when needed; (iv) Mullen's ability to maintain existing, and secure
additional, contracts with manufacturers, parts and other service
providers relating to its business; (v) Mullen's ability to
successfully expand in existing markets and enter new markets; (vi)
Mullen's ability to successfully manage and integrate any
acquisitions of businesses, solutions or technologies; (vii)
unanticipated operating costs, transaction costs and actual or
contingent liabilities; (viii) the ability to attract and retain
qualified employees and key personnel; (ix) adverse effects of
increased competition on Mullen's business; (x) changes in
government licensing and regulation that may adversely affect
Mullen's business; (xi) the risk that changes in consumer behavior
could adversely affect Mullen's business; (xii) Mullen's ability to
protect its intellectual property; and (xiii) 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,
Californiawww.InvestorBrandNetwork.com310.299.1717
OfficeEditor@InvestorBrandNetwork.com
- Randy Marion Automotive Group is one of the largest and most
respected commercial vehicle dealer groups in the U.S.
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