Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today released a statement from its CEO to address recent investor inquires. Among the highlights, Mullen anticipates making Class 1 EV deliveries to various commercial customers before the end of March 2023 and believes the company’s cash on hand and expected firm cash commitments will provide enough capital to execute on its business plan over the next 12 months. “I believe we have all the pieces in place between our product, factories and strategic expertise to execute on our plans to deliver our Class 1 and Class 3 vehicles this year,” said David Michery, CEO and chairman of Mullen Automotive. “Furthermore, we continue to invest and move at a fast clip with the Mullen FIVE program, which will soon be approaching vehicle engineering freeze, allowing us to move into the next phase of the crossover program.”
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About Mullen Automotive Inc.
Mullen 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.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://nnw.fm/MULN
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