Latest news with #MullenAutomotive
Yahoo
3 days ago
- Automotive
- Yahoo
Mullen Automotive announces 1-for-100 reverse stock split
Mullen Automotive (MULN) announces that it will effect a 1-for-100 reverse stock split of its common stock, par value $0.001 per share, that will become effective on June 2, 2025, at 12:01 a.m. Eastern Time. The Common Stock will continue to trade on The Nasdaq Capital Market under the existing MULN symbol and will begin trading on a split-adjusted basis when the market opens on June 2, 2025. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 62526P802. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on MULN: Disclaimer & DisclosureReport an Issue Mullen Automotive Boosts Equity Plan for Growth Mullen Automotive Stock (MULN) Crashes 26% after Brief Hype Spike Mullen Automotive reports Q2 revenue $4.95M vs $33k last year Mullen Automotive Stock (MULN) Rockets 100%—But Can it Outrun its Financial Woes? Mullen Automotive Delays Quarterly Report Filing
Yahoo
20-05-2025
- Automotive
- Yahoo
Mullen Automotive (MULN) Reports Record Quarterly Results for Fiscal Q2 2025
On May 20, Mullen Automotive, Inc. (NASDAQ:MULN) reported results for fiscal Q2 2025, highlighting record revenue, outperforming all previous quarters. The company achieved $5 million in revenue for Q2 2025, reflecting an increase of $33,000 year-over-year. CEO and Chairman David Michery noted this to be the company's best quarterly performance to date, reflecting a growth of over 143 times from Q2 2024. A luxury electric vehicle driving in the city, its battery technology powering its progress. Additionally, Mullen Automotive, Inc. (NASDAQ:MULN) also slashed its net loss by more than 64%, from $132.4 million net loss in Q4 2024 to $47.1 million in the recent quarter. Management also successfully reduced its cash expenditure from $120.9 million to $52.4 million over the six months ending March 31, 2025. David Michery highlighted significant progress in its Class 1 and 3 commercial electric vehicle segment. This includes Cashflow on Wheels, ordering and receiving 20 Class 3 EVs valued at approximately $1.4 million, Global Expert Shipping purchasing Class 1 cargo vans, and the local government of Orange County acquiring Mullen ONE Class 1 EV cargo vans. Mullen Automotive, Inc. (NASDAQ:MULN) is a United States-based commercial electric vehicle company that operates two vehicle production plants located in Mississippi and Indiana. While we acknowledge the potential of MULN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MULN and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Automotive
- Yahoo
Mullen Subsidiary, Bollinger Motors, Delivers B4 Commercial Electric Truck to NYC's Lower East Side Ecology Center
Eastside Ecology Center Operates the Longest Compost Recycling Program in NYC All-electric B4 will be used as both a work truck and delivery truck, supporting various LES Ecology Center environmental initiatives including the longest running compost program in New York City via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) ('Mullen' or the 'Company'), an electric vehicle ('EV') manufacturer, announces its subsidiary, Bollinger Motors ('Bollinger'), has delivered a Bollinger B4 Class 4 electric vehicle to The Lower East Side ('LES') Ecology Center. The vehicle will be used as both a work truck and delivery truck, supporting various LES Ecology Center environmental initiatives including the longest running compost program in New York City. 'We are delighted to partner with Bollinger Motors to bring our first ever electric vehicle to our fleet. Bollinger Motors shares our commitment to sustainability, and the Bollinger B4, a versatile world-class vehicle, will help our operations meet and exceed our overall environmental goals,' said Christine Datz-Romero, co-founder and executive director of the Lower East Side Ecology Center. Funding for this project was secured by the New York City Council. The Bollinger B4 Chassis Cab is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. Bollinger's unique Quad-Bend chassis design protects the 158-kwh battery pack and components to offer unparalleled capability, maneuverability, and safety in the commercial market. The vehicle has a 185-mile range, 46-foot turning radius and a payload of 7,325 pounds, making it ideal for a variety of urban operations. The LES Ecology Center's truck is upfitted with a 16-foot Morgan Dry Box and a 2,200-pound power lift gate. 'The Bollinger B4 is a great fit for both LES Ecology's fleet and its culture,' said Jim Connelly, chief revenue officer for Bollinger Motors. 'The vehicle is ideally suited for operating in a high-traffic urban settings such as Manhattan. In addition, Bollinger Motors shares an environmental vision with LES Ecology and are proud to partner in their sustainability stewardship efforts in NYC.' About Lower East Side Ecology Center The Lower East Side Ecology Center has pioneered community-based models in urban sustainability since 1987. LES provides unique e-waste and composting services, environmental stewardship opportunities, and educational programming to all New Yorkers to create an equitable, resilient, and sustainable city. About Bollinger Motors Founded in 2015, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Michigan. Bollinger Motors is producing and selling its all-electric commercial Class 4 chassis cab truck. In September of 2022, Bollinger Motors became a majority-owned company of Mullen Automotive, Inc. (NASDAQ: MULN). Learn more at About Mullen Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles ('EVs') with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board ('CARB') and EPA certified and available for sale in the U.S. The Company's commercial dealer network consists of seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets. In September 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has passed numerous milestones including its B4, Class 4 electric truck production launch on Sept. 16, 2024, and the development of a world-class dealer and service network with over 50 locations across the United States. To learn more about the Company, visit 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, but are not limited to, whether Lower East Side Ecology Center will order further vehicles; whether the Bollinger B4 will prove successful; how long state and federal electric vehicle incentive programs will continue to apply; the ability of Bollinger Motors' B4 Class trucks to qualify for such incentive programs; and the impact of incentive programs on the resultant price of the Bollinger B4 Class trucks. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. 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) Corporate Communications:IBNAustin, OfficeEditor@ Attachment Eastside Ecology Center Operates the Longest Compost Recycling Program in NYC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Automotive
- Yahoo
Mullen Automotive Enters Into Settlement Agreement with GEM Group
On May 9, 2025, Company executed a settlement agreement with GEM Group. Under terms of the settlement agreement, GEM has a 55-day due diligence period, subject to extension by GEM, to evaluate the transfer to GEM of the Mishawaka assets in complete satisfaction of the judgement. All collection activities have been suspended for the duration of the due diligence period. Mullen continues to build its business and expand its existing Tunica, Mississippi, manufacturing capabilities to meet near and long-term demands for its multiple product lines. BREA, Calif. / NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) ('Mullen' or the 'Company'), an electric vehicle ('EV') manufacturer, announces today that it has executed a settlement agreement with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS (together, 'GEM'). On May 9, 2025, Company executed a settlement agreement with GEM Group. Under terms of the settlement agreement, GEM has a 55-day due diligence period, subject to extension by GEM, to evaluate the transfer to GEM of the Mishawaka assets in complete satisfaction of the judgement. All collection activities have been suspended for the duration of the due diligence period. Mullen continues to build its business and expand its existing Tunica, Mississippi, manufacturing capabilities to meet near and long-term demands for its multiple product lines. 'After four years of litigation we have executed a settlement agreement which provides a path forward to a full resolution with GEM and puts this matter behind us,' said David Michery, CEO and chairman of Mullen Automotive. 'I look forward to a great rest of 2025 and continued growth thereafter.' About MullenMullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles ('EVs') with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board ('CARB') and EPA certified and available for sale in the U.S. The Company's commercial dealer network consists of seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets. In September 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has passed numerous milestones including its B4, Class 4 electric truck production launch on Sept. 16, 2024, and the development of a world-class dealer and service network with over 50 locations across the United States. To learn more about the Company, visit 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 outcome of GEM's due diligence and whether the proposed settlement will be implemented. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. 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) Corporate CommunicationsIBNAustin, OfficeEditor@
Yahoo
20-05-2025
- Automotive
- Yahoo
Cashflow on Wheels, a Multistate FedEx and Amazon DSP Consolidator, Purchases 20 Mullen THREE Class 3s
First 20 vehicles will be delivered in May to Cashflow on Wheels for FedEx routes in Texas and Georgia Initial deal valued at approximately $1.4 million Cashflow on Wheels is a leading logistics company with a focus on transitioning FedEx and Amazon last-mile local delivery to electric vehicles via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) ('Mullen' or the 'Company'), an electric vehicle ('EV') manufacturer, announces today a Class 3 vehicle order with Cashflow on Wheels. The order includes 20 all electric Mullen THREE's, with a retail value of approximately $1.4 million. Cashflow on Wheels is a leading logistics company based in Houston, Texas, with a focus on last-mile delivery, local and long-distance trucking and transportation solutions. The milestone vehicle order will be fulfilled by Mullen dealer, Pritchard Automotive. Cashflow on Wheels' strength is in bringing new efficiencies and sustainability to last-mile delivery for FedEx and Amazon. The addition of the Mullen THREE to their fleet underscores a commitment to transitioning traditional fleets to advanced EV solutions and to their DSPs reducing their total cost of operations. "We have been testing EVs across our routes and have decided to transition our fleet, as we've seen measurable savings of over $500 per route per week, which allows us to reinvest in our continued growth,' said Kendrick Edwards, CEO, Cashflow on Wheels. 'We are confident that adopting EVs will not only reduce costs but also provide the scalability needed to support our future expansion." "Cashflow on Wheel's order reflects the growing demand for environmentally friendly commercial vehicles,' said David Michery, CEO and chairman of Mullen Automotive. 'The Mullen THREE is a perfect fit to their diverse customer base, including FedEx and Amazon, from last-mile delivery to urban logistics.' About Cashflow on WheelsFounded in 2023, Cashflow on Wheels is a leading logistics company based in Houston, Texas, with a focus on last-mile local delivery, local delivery and long-distance trucking and transportation solutions. Cashflow on Wheels strength is in bringing new efficiencies and sustainability to last-mile delivery for FedEx and Amazon. Central to Cashflow on Wheels' philosophy is job creation and creating economic growth opportunities for its drivers and employees. About MullenMullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles ('EVs') with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board ('CARB') and EPA certified and available for sale in the U.S. The Company has also recently expanded its commercial dealer network to seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England and Mid-Atlantic Sept. 7, 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has achieved numerous milestones including its all-electric B4, Class 4 truck production start, which launched on Sept. 16, 2024, and the development of a world-class dealer and service network with over 50 locations across the United States. To learn more about the Company, visit 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, whether the expected timelines for vehicle delivery to Cashflow on Wheels will be met, whether any additional vehicles will be ordered by Cashflow on Wheels, how long governmental incentives for electric vehicles will remain in place, and the resultant selling prices of Mullen vehicles. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. 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) Corporate CommunicationsIBNAustin, OfficeEditor@ in to access your portfolio
