Curated News
By: NewsRamp Editorial Staff
October 03, 2024
Mullen Automotive Expects 6791% Revenue Increase, Decreasing Cash Burn
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- Mullen Automotive anticipates a 6791% quarter-over-quarter revenue increase, positioning the company for significant competitive advantage in the EV market.
- Mullen Automotive's monthly cash burn for the quarter ended September 30, 2024, is expected to continue decreasing with operating reductions throughout 2025, aiming for breakeven by December 2025.
- Mullen Automotive's revenue increase and reduced cash burn signal positive momentum, demonstrating the company's potential to make a positive impact in the EV industry and contribute to a sustainable future.
- Mullen Automotive, an emerging EV manufacturer, expects to achieve a 6791% revenue increase, indicating a remarkable and exciting development in the electric vehicle market.
Impact - Why it Matters
This news matters as it highlights the rapid growth and strong momentum of Mullen Automotive as it aims to achieve breakeven on a cash basis by December 2025. The company's focus on building the next generation of commercial EVs also reflects the ongoing shift towards sustainable transportation solutions.
Summary
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, expects a significant revenue increase for the quarter ended September 30, 2024, with a 6791% quarter-over-quarter increase. Monthly cash burn is also decreasing, with a focus on achieving breakeven by December 2025. The company is building the next generation of commercial EVs and has received IRS approval for federal EV tax credits.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Mullen Automotive Expects 6791% Revenue Increase, Decreasing Cash Burn
