Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced preliminary third-quarter results. According to the update, in addition to recent highlights and successes for the company and its EV programs, Mullen is in a strong financial position, with approximately $99 million in cash and cash equivalents on hand as of Aug. 8, 2022. Among the highlights, the company reported asset growth of 391% and positive working capital of $27,656,446. “It’s an exciting and pivotal time for Mullen as we continue to experience exceptional growth,” said David Michery, CEO and chairman of Mullen Automotive. “We’ve been focused on expanding our capital positions, resources and efforts in all key business areas, and we are really seeing it come together with our recent expansions and successes.”
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About Mullen Automotive Inc.
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. For more information about the company, visit www.MullenUSA.com.
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