Mullen Announces 30-Unit Purchase Order for Mullen-GO™ Commercial Urban Delivery Vehicle from Newgate Motor Group in Ireland
July 17 2023 - 8:00AM
via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer,
announces today a 30-unit purchase order for the Mullen-GO™
(“Mullen-GO”) Commercial Urban Delivery EV for Newgate Motor Group
(“Newgate”). Newgate, one of Ireland’s most recognized dealership
groups, is the marketing, sales, distribution, and servicing agent
for the Mullen-GO in Ireland and the United Kingdom.
The 30-unit order of the Mullen-GO represents the first sale of
vehicles for delivery outside of the U.S. and into the European
market. The estimated value of the booked order is $321K and is
expected to be reflected in Mullen’s current fiscal quarter
reporting. Mullen and Newgate have previously announced plans for
up to 500 vehicles per year.
The Mullen-GO is Mullen’s urban commercial 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 vehicle is EU standard homologated, certified, and
ready for sale in initial markets of the U.K., Germany, Spain,
France and Ireland.
“The feedback from the Irish automotive market has been positive
in relation to the Mullen-GO. We see potential for this model and
the Mullen brand. This decision reflects our commitment to the
Newgate - Mullen partnership and zero-emission transport
solutions,” said James Ring, general manager of Newgate Motor
Group.
Newgate Motor Group has over 40 years of experience in the motor
industry and has built an excellent reputation during that time.
Newgate is well respected in the auto industry and represents
several brands including Renault/Dacia, Kia and Mercedes-Benz. In
addition to being a key retail group in Ireland, Newgate also has
substantial relationships in the vehicle distribution business
throughout the United Kingdom and various parts of Europe. Newgate
Motor Group also represents XBUS and Evetta electric vehicles from
the German-based company Electric Brands.
“Newgate has generated great interest on the Mullen-GO to-date,
and we are excited to kick off sales in Europe with them,” said
David Michery, CEO and chairman of Mullen Automotive. “As I have
stated previously, the Mullen-GO is a great alternative vehicle for
commercial delivery in dense metro European cities. The small size
is perfect on tight Euro streets and the zero emissions and lower
cost of ownership is a great combination for potential commercial
customers.”
About Newgate Motor GroupNewgate Motor Group is
an Irish family-owned business and one of Ireland’s most recognized
vehicle retailers. Newgate currently represents several brands,
including Renault passenger cars and commercial vehicles, Dacia,
Kia and Mercedes-Benz. Newgate offers the highest level of service
and expertise, whether customers wish to maintain current vehicles
or are looking to upgrade to a new or used car. It stocks the
latest models and a wide variety of used cars, from small to luxury
premium vehicles. Newgate is also authorized to facilitate
customers’ vehicle finance requirements, and stocks the full range
of Mercedes-Benz, Renault, Dacia and Kia genuine parts. Newgate
Motor Group boasts a state-of-the-art facility in Navan, with
workshops equipped to service and maintain Renault, Dacia, Kia and
Mercedes vehicles.
To learn more about Newgate Motor Group, visit
www.Newgate.ie
About MullenMullen 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 and 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 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 final value of the purchase order; whether
additional purchase orders will materialize as anticipated and the
timing that the revenue from the order will be recognized by the
Company. 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
- Newgate, based in Ireland, is an authorized distributor for the
Mullen-GO in Europe
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