Mullen (MULN) Delivers Class 3 Electric Vehicles Valued Close to $4Million

Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announceed 63 additional Class 3 vehicles have been delivered to Randy Marion Automotive Group (“RMA” or “Randy Marion”) with the Company invoicing RMA for $3,969,000..To-date, The Company has delivered 121 Mullen THREEs to RMA for a total of $7,623,000. The Company is on track to deliver 150 Mullen THREEs by EOY 2023.

In total, Randy Marion has committed to 1,000 Class 3 vehicles for a total of $63 million with the majority of the vehicles to be delivered in calendar year 2024. As previously reported, Class 3 production at the Tunica, Mississippi, facility is planned for 150 vehicles for 2023, with total capacity for Class 3 planned at 3,000 vehicles annually per shift.

Mullen THREE production is based out of Tunica, which is home to Mullen’s commercial vehicle assembly for both the Mullen ONE, Class 1 EV cargo van, and the Class 3 EV cab chassis trucks. Mullen began first deliveries of the Mullen THREE to Randy Marion on Sept. 28, 2023. Randy Marion received its North Carolina license to retail Mullen’s commercial EVs on Nov. 16, 2023, opening the ability of the dealership to conduct sales to customers.

“We are laser-focused on hitting our commitment to deliver 150 Mullen THREEs by end of this year,” said David Michery, CEO and chairman of Mullen Automotive.

The All-Electric Mullen THREE is a Class 3 low cab forward EV truck featuring a robust payload and 125-mile range. The Mullen THREE was purpose-built to meet the demands of urban last-mile delivery. The Mullen THREE chassis can be easily upfit to meet a variety of vocational needs from last mile delivery, construction, landscaping, catering and more. The chassis has a clean top-of-rail design for easy upfitting with bodies up to 14 feet long and over 5,300 pounds of payload.

Mullen THREE Vehicle Highlights:

  • 125-mile estimated range
  • 11,000 lbs. GVWR
  • 5,316 lbs. max payload
  • 14 ft. max box length
  • 38 ft. turning diameter