BREA, Calif., July 14, 2023 (GLOBE NEWSWIRE) — via IBN — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces the transfer of Class 1 EV cargo van vehicles between its plants in Mishawaka, Indiana, and Tunica, Mississippi, for final assembly pursuant to customer orders. Activity on the class 1 vehicle program, including a showcase of the Mishawaka manufacturing facility, can be viewed on Mullen’s YouTube channel here.
2023 Class 1 vehicle manufacturing highlights include:
- Over 350 Class 1 vehicles in preparation to be transferred to Tunica for final assembly
- In addition, 300 Class 1 vehicles scheduled to arrive in Tunica for final assembly for the remainder of 2023
“Our Tunica plant is in final stages for the production start and deliveries of class 1 and class 3 vehicles to customers between August and December 2023,” stated John Taylor, senior vice president of global manufacturing for Mullen Automotive.
“Exciting times as we are getting very close to delivering vehicles to awaiting customers, beginning in August 2023, which allows us to recognize continued revenue growth over the last six months of 2023,” said David Michery, CEO and chairman of Mullen Automotive.
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 the number of Class 1 vehicles that will be transferred to Tunica, MS for final assembly, the timing of the start of production and deliveries to customers for Class 1 and Class 3 vehicles, and when the Company will recognize related revenues. 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.
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 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.
