Mullen(MULN) News: First Phase Fullerton & Other Milestones

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Mullen A utomotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”)  an emerging electric vehicle (“EV”) manufacturer, today announced the first phase completion of battery line integration at its high energy facility located in Fullerton, California. The company also recently announced that it produced over 500 vehicles.

The southern California facility is dedicated to producing next-generation American-made EV battery packs, a critical component to the Company’s commitment to zero emissions and to reducing reliance on key battery components imported from foreign countries.

The operationalization of the plant includes a series of planned stages which began with facility preparations and quickly transitioned to the move and installation of battery assembly line equipment. The phase one project culminated in the successful startup, debugging, and early-stage commissioning of the initial two battery assembly lines.

The facility’s production start is expected to boost the local economy through job creation. Production line start is currently targeted for early 2025 and at volume production, Mullen expects to hire over 200 people for both battery production and operational support.

“Our new battery assembly plant is not just an investment in Mullen Automotive’s future, but also a testament to our commitment towards U.S. battery production,” said David Michery, CEO of Mullen Automotive. “Battery packs are a critical part of our supply chain as it strengthens our market position and supports the transition to American-made battery components.”

Mullen also recently  announced a manufacturing milestone achieved with the 500th commercial vehicle recently produced out of its Tunica, Mississippi, commercial vehicle manufacturing and assembly facility.

Additional recent highlights include:

  • The Company currently has 18 active commercial vehicle pilots with fleets, municipalities, universities and campuses underway.
  • Expansion of its U.S. retail network with dealers located on the West Coast, Midwest and Mid-Atlantic regions expected to commence in June 2024.
  • Expansion of commercial vehicle distribution in Europe with plans to sell 800 units expected to begin in 2024.

“We have increased requests for our vehicles internationally, and as result, we plan to launch an expansion into Europe next month,” said David Michery, CEO and chairman of Mullen Automotive. “In addition to international growth, we plan to expand U.S. distribution, adding new dealer points to support commercial EV market penetration.”