Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today new deliveries of the All-Electric Class 3, Mullen THREE, low cab forward chassis truck to Randy Marion Automotive Group (“RMA”) in North Carolina.
The Company’s Tunica, Mississippi, commercial vehicle assembly plant continues to ship completed Mullen THREE, Class 3 vehicles which are ready for delivery to RMA customers. All vehicles sold in the U.S. are currently distributed through Mullen’s retail dealership partner, Randy Marion Automotive Group. RMA is one of the largest commercial fleet dealers in the U.S. and is based in the Charlotte, North Carolina, area.
“We are in full swing delivery of Class 3 vehicles to Randy Marion Automotive Group in North Carolina,” said David Michery, CEO and chairman of Mullen Automotive. “It’s exciting to see a constant flow of vehicle transports picking up Class 3’s at our Tunica assembly plant and heading down the road for customer deliveries.”
The All-Electric Mullen THREE is a Class 3 low cab forward EV truck featuring a robust payload and 125-mile range. The Mullen THREE was purpose-built to meet the demands of urban last mile delivery. The Mullen THREE chassis can be easily upfit to meet a variety of vocational needs from last mile delivery, construction, landscaping, catering and more. The chassis has a clean top-of-rail design for easy upfitting with bodies up to 14 feet long and over 5,800 pounds of payload.
Mullen THREE Vehicle Highlights:
130-mile estimated range
11,000 lbs. GVWR
5,802 lbs. max payload
14 ft. max box length
38 ft. turning diameter
Mullen also announced today that it has hired Mark R. Basile, Esq. and his law firm, The Basile Law Firm P.C., to assist the Company in reviewing its current fundings and to make recommendations in developing its floorplan for future fundings.
“Mullen is committed to full transparency to the public markets. We are making this announcement in an effort to notify our shareholders that we fully intend to take any and all measures necessary to continue our sustainable growth as we move ahead with previously announced strategic initiatives,” said David Michery, CEO and chairman of Mullen Automotive. “Mark R. Basile, Esq. is a former law professor and a well-known and respected securities litigator. Mr. Basile is also known for helping public companies improve their internal operations and to recommend board and company initiatives. We welcome Mr. Basile to our team of highly skilled and capable lawyers, both in-house and out, and we are looking forward to working with him as we continue to drive our core business value forward.”
Michery continued, “While the Company is involved in many strategic initiatives, there is a need to balance growth with funding with an eye to developing real shareholder value. The Company highly values our very vocal and active shareholder base, and we remain committed to them. Our shareholder community has been a great source of support, information and drive. As we venture into the next level of business, we are committed to grow our fundamental values with our focus in shareholder value.”
“I have worked with many public company executive teams and boards of directors, and the opportunities presented in assisting Mullen Automotive, Inc. are compelling,” stated Mr. Basile.
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.