Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower on Monday. The company disclosed the sale of its all-electric Mullen ONE Class 1 cargo van to Global Expert Shipping. The order will be fulfilled through Mullen's national EV dealer partner,
The article from AOL discusses the recent developments and stock performance of Mullen Automotive, an electric vehicle startup. Mullen Automotive's stock (MULN) has experienced significant volatility, with a sharp decline of over 99% from its peak in late 2021. Despite this, the company has made progress in its business operations, including the acquisition of Electric Last Mile Solutions and the unveiling of new electric vehicle models such as the Mullen FIVE and Mullen GT. Mullen has also secured partnerships and orders, including a deal with Randy Marion Automotive Group for 6,000 electric vehicles. However, the company faces challenges such as production delays, regulatory scrutiny, and the need to raise additional capital. The article suggests that while Mullen Automotive shows potential in the growing EV market, its stock remains a high-risk investment due to ongoing uncertainties and the company's early stage of development.
Automotive & Transportation
Fri, April 18, 2025
