Curated News
By: NewsRamp Editorial Staff
May 13, 2025
Mullen Automotive Resolves Legal Dispute with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS
TLDR
- Mullen Automotive settles legal dispute with GEM, allowing evaluation of asset transfer, focusing on expanding EV manufacturing operations.
- GEM has 55-day due diligence period to evaluate Mullen's Mishawaka assets in settlement agreement, suspending collection activities.
- Mullen Automotive's resolution with GEM fosters growth, meeting EV demand, enhancing commercial vehicle production, and expanding dealer network.
- Mullen Automotive's settlement with GEM leads to increased EV production, potential asset transfer, and expanded dealer network, shaping future mobility.
Impact - Why it Matters
This news highlights Mullen Automotive's successful resolution of a long-standing legal dispute, allowing the company to focus on expanding its manufacturing operations and meeting the growing demand for its electric vehicles. Investors and EV enthusiasts alike should take note of Mullen's progress and the potential impact on the electric vehicle market.
Summary
Mullen Automotive (NASDAQ: MULN), an electric vehicle manufacturer, has settled a four-year legal dispute with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS. Under the agreement, GEM has a 55-day due diligence period to evaluate the transfer of Mullen's Mishawaka assets. Mullen is focusing on expanding its manufacturing operations in Tunica, Mississippi, to meet the increasing demand for its EV product lines.
Mullen Automotive Inc. is a Southern California-based company that produces commercial electric vehicles. The company has started commercial vehicle production in Tunica and received IRS approval for federal EV tax credits. Its vehicles, Mullen ONE and Mullen THREE, are CARB and EPA certified for sale in the U.S. Mullen has also expanded its dealer network and received Foreign Trade Zone status approval for its manufacturing center.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Mullen Automotive Resolves Legal Dispute with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS
