via IBN-- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer
announces that it held its first Tunica open house event today,
highlighting its first Class 3 EV trucks rolling off the assembly
line.
Today’s launch event was conducted to provide attendee’s the
opportunity to visit Mullen’s Tunica facility. In addition to a
facility tour, the event featured a company presentation and test
drives for Class 1 and Class 3 commercial vehicles. Attendees
included local county and state leadership, media, investors and
customers.
“It’s exciting to share this milestone with local leadership,
investors and customers,” said David Michery, CEO and chairman of
Mullen Automotive, Inc.
Mullen will be gradually ramping up its Class 3 production rate
through the remaining of this calendar year. Once full acceleration
has been achieved, production capacity at the Tunica facility is
currently planned at 3,000 Class 3 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.
“Whenever a new vehicle program hits this stage, it’s great that
we can bring key people to the plant like we did today with our
dealer, Randy Marion, and first customer, MGT, so they feel the
excitement first-hand and see the reality that our vehicles are
heading their way very soon,” said John Schwegman, Chief Commercial
Sales Officer, Mullen Automotive, Inc.
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. Mullen has been
aggressively growing employee count in Tunica over the last few
months to support commercial vehicle production.
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
I-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
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 dates anticipated
for commercial vehicle production launches, the date of vehicle
delivery to customers, contemplated vehicle selling prices, the
number of production shifts and vehicles that will be built at the
Tunica facility annually, whether the contemplated federal tax
benefits will materialize 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
- Visitor’s Interact at Mullen Open House Event
- Mullen’s Tunica, Miss., Production Floor Area During Open House
Event
- Mullen Class 1 EV Cargo Van on Display During Open House
Event
- John Taylor, SVP Global Manufacturing, Presentation During Open
House Event
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