Mullen Automotive (NASDAQ:MULN Delivers Fleet of Class 3 Vehicles to Randy Marion Automotive Group

Mullen Automotive, Inc. MULN, a burgeoning player in the electric vehicle (EV) market, has recently completed a significant delivery of 38 Class 3 electric vehicles to the Randy Marion Automotive Group. This delivery forms part of a larger purchase order that Randy Marion placed for 1,000 Class 3 vehicles and represents a notable $2.5 million in invoicing for Mullen.

Significant Milestone in Mullen's Operations

The delivery of these vehicles is not just a transaction but a testament to Mullen's growing capability in the EV space. They have successfully initiated production at their facility in Tunica, Mississippi, with these 38 vehicles paving the way for a larger scale operation planned for the remainder of the year. Mullen aims to produce 150 vehicles by the end of 2023, marking a significant stride towards their annual production capacity goal.

Scaling Up Production

Mullen has set their eyes on an ambitious target, aiming to eventually ramp up their production to a substantial 3,000 Class 3 vehicles annually. This planned escalation is reflective of the increasing demand for electric commercial vehicles and Mullen's confidence in their manufacturing processes and supply chain management. The delivery to Randy Marion Automotive Group serves as a robust indicator of Mullen's commitment to solidifying its presence in the commercial EV market.

MULN Stock Impact

As with any significant operational milestone, such deliveries and expansion tend to have a potential impact on the company's stock performance. Investors and market watchers closely monitor these developments as they can be indicative of the company's future growth trajectory and financial health. Mullen's recent activities, including this delivery, are significant markers to consider when evaluating MULN's stock potential.

delivery, vehicles, production