Mullen’s First Production Vehicle Rolls Off Assembly Line
August 21 2023 - 7:30AM
via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer, today
announces the first production vehicle, the Mullen THREE, a Class 3
EV truck, has rolled off the line at Mullen’s commercial vehicle
assembly facility located in Tunica, Mississippi.
A video of this milestone event can be found at
www.MullenUSA.com.
“We have been true to our commercial Class 3 vehicle production
commitments and have now achieved a significant milestone with the
first trucks rolling off the line,” said David Michery, CEO and
chairman of Mullen Automotive, Inc.
Mullen will be gradually ramping up production rate through the
balance of this calendar year. Once full acceleration has been
achieved, Class 3 production capacity at the Tunica facility is
currently planned at 3,000 vehicles annually per shift. As electric
vehicle adoption rates increase, Mullen plans to add a second shift
for Class 3 production, which will increase capacity to 6,000 total
vehicles per year.
During the ramp up in volume of the Mullen THREE, the production
testing and launch of the Mullen ONE, Class 1 EV Cargo Van will
also take place in Tunica, achieving deliveries on customer orders
for both commercial Class 1 and Class 3 vehicles by year end.
To date, the Company has received $79 million in purchase orders
for the Mullen THREE, Class 3 EV trucks from Randy Marion
Automotive Group and MGT Lease Company.
Mullen’s Tunica commercial manufacturing center includes over
120,000 square feet and is situated on over 100 acres. The facility
is focused on production of Class 1 and Class 3 commercial EV
vehicles and is in close proximity to all major rail lines,
interstates, Mississippi river systems, and air logistics, placing
it in a primary logistical center of North America.
The Mullen THREE, with a MSRP starting at $68,500, qualifies for
$7,500 in federal tax incentives, is an efficient Class 3 low cab
forward EV truck featuring an 11,000 Gross Vehicle Weight Rating, 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.
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 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 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 date of vehicle delivery to customers, the
number of production shifts and vehicles that will be built at the
Tunica facility annually, whether buyers of the Mullen THREE will
receive federal tax incentives and whether the Mullen THREE will be
a success. 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
- Mullen’s first production vehicles roll off the assembly
line
- The Mullen THREE, a commercial Class 3 cab forward EV chassis
truck, starting at $68,500 MSRP
- Mullen’s commercial Class 3 is produced in Tunica,
Mississippi
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