Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is featured in a recent Investorideas.com special report. Investorideas.com is a leading investor news resource covering EV and automotive stocks. According to the report, the global electric car market is valued at $105 billion this year and projected to reach more than $354 billion by 2028. The report noted Mullen’s plans, which were approved by the U.S. Bankruptcy Court, to acquire the assets of Electric Last Mile Solutions (“ELMS”) in an all-cash purchase. The acquisition will include ELMS’s manufacturing plant along with all inventory and intellectual property. The report also noted MULN’s acquisition of a controlling interest in EV truck innovator Bollinger Motors Inc. The first of MULN’s EV acquisitions, the Bollinger transaction places Mullen in the medium-duty truck space. According to the announcement, the ELMS manufacturing plant has previously produced General Motors Hummer H2 SUV and SUT and the Mercedes-Benz R-Class vehicle, making it an ideal facility for the production of the Mullen and Bollinger portfolio of consumer vehicles. Mullen’s most recent acquisition will accelerate the company’s launch of several upcoming vehicles as well as exceed its previous business plan projections. “The commercial portfolio is expected to increase over 50% with the addition of the ELMS assets and the retail portfolio is expected to more than double with the addition of Bollinger vehicles and the manufacturing capacity of Mishawaka,” the announcement stated.
To view the full press release, visit https://ibn.fm/4Ijmd
About Mullen Automotive Inc.
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. To learn more about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
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