Curated News
By: NewsRamp Editorial Staff
September 25, 2024
Mullen Automotive Shares Video Update and Progress Highlights
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- Mullen Automotive secures $100 million preferred instrument and $150 million fully available equity line for sales growth, creating advantage for investors.
- Mullen Automotive CEO David Michery provides detailed overview of sales expansion, financial performance, and production progress in video update.
- Mullen's progress in commercial electric vehicles and expansion of dealer network contribute to a sustainable, cleaner future for transportation.
- Mullen Automotive's recent sales activities with new companies have resulted in new sales opportunities and vehicle orders, driving innovation in the EV market.
Impact - Why it Matters
This news matters because it provides insight into Mullen Automotive's recent progress, financial performance, and future prospects in the electric vehicle industry. It also showcases the company's efforts in expanding its commercial dealer network and securing financing for sales growth.
Summary
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, shared a video update to shareholders provided by CEO and Chairman David Michery. The update highlighted the company’s recent progress, including sales and distribution expansion, financial performance, and secured financing. Michery remained optimistic about the company's success despite stock price challenges. The video update can be viewed here.
Mullen Automotive is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”). The company has begun commercial vehicle production and received IRS approval for federal EV tax credits. The Mullen ONE and Mullen THREE are CARB and EPA certified and available for sale in the U.S. The company has also expanded its commercial dealer network and received Foreign Trade Zone (“FTZ”) status approval for its commercial vehicle manufacturing center. More information about the company can be found here.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Mullen Automotive Shares Video Update and Progress Highlights
