Mullen Announces New Commercial EV Fleet Order for Europe
29 Mayo 2024 - 8:29AM
via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an electric vehicle (“EV”) manufacturer, announces
today a new European purchase order (“PO”) for 40 Mullen-GO urban
delivery vehicles with Switzerland-based Antidoto SA, a commercial
upfitter whose key focus is on-demand food delivery companies. The
initial PO is valued at $440,000 USD.
Antidoto SA specializes in the design and sale of pizza
ovens for delivery vehicles and installs warming ovens in various
types of vehicles. The company currently produces around 500 ovens
per year, which are integrated and sold with a specific
vehicle. Antidoto SA will initially order 40 Mullen-GO
vehicles for 2024 and projects a minimum order of 180 units
for 2025 to meet anticipated growing demand for zero emission EVs.
The vehicles will initially be deployed in Switzerland with planned
expansion into other parts of Europe.
“We strongly believe that a collaboration with Mullen could not
only meet our current needs, but also boost our production capacity
by offering an electric vehicle to our customers,” said Milijana
Miletic, Director of Antidoto SA.
“As part of our global expansion, we are looking at all segments
of urban delivery opportunities, including hot and cold on-demand
delivery, which is perfectly suited for the Mullen-GO,” said David
Michery, CEO and chairman of Mullen Automotive.
The Mullen-GO is the Company’s urban commercial electric
delivery vehicle, which is designed to bridge the gap between the
growing demand for quick deliveries and space constraints in dense
cities throughout Europe. The commercial EV’s compact design allows
it to easily handle the stop/go and weave in/out typical of narrow
urban European streets, getting to the customer's door faster, all
while decreasing pollution and congestion levels. The Mullen-GO is
EU standard homologated, certified, and ready for European
sale.
About MullenMullen Automotive (NASDAQ: MULN) is
a Southern California-based automotive company building the next
generation of commercial electric vehicles (“EVs”) with two United
States-based vehicle plants located in Tunica, Mississippi,
(120,000 square feet) and Mishawaka, Indiana (650,000 square feet).
In August 2023, Mullen began commercial vehicle production in
Tunica. In September 2023, Mullen received IRS approval for federal
EV tax credits on its commercial vehicles with a Qualified
Manufacturer designation that offers eligible customers up to
$7,500 per vehicle. As of January 2024, both the Mullen ONE, a
Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis
truck are California Air Resource Board (“CARB”) and EPA certified
and available for sale in the U.S. Recently CARB issued HVIP
approval on the Mullen THREE, Class 3 EV truck, providing a rebate
of up to $45,000 at time of vehicle purchase. The Company has also
recently expanded its commercial dealer network with the addition
of Pritchard EV and National Auto Fleet Group, providing sales and
service coverage in key Midwest and West Coast markets. The Company
also recently announced Foreign Trade Zone (“FTZ”) status approval
for its Tunica, Mississippi, commercial vehicle manufacturing
center. FTZ approval provides a number of benefits, including
deferment of duties owed and elimination of duties on exported
vehicles.
To learn more about the Company, visit www.MullenUSA.com.
Forward-Looking StatementsCertain statements in
this press release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Exchange Act of 1934, as amended. Any statements
contained in this press release that are not statements of
historical fact may be deemed forward-looking statements. Words
such as "continue," "will," "may," "could," "should," "expect,"
"expected," "plans," "intend," "anticipate," "believe," "estimate,"
"predict," "potential" and similar expressions are intended to
identify such forward-looking statements. All forward-looking
statements involve significant risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements, many of which are
generally outside the control of Mullen and are difficult to
predict. Examples of such risks and uncertainties include, but are
not limited to, the timing of fulfilment of the Ortak Antidoto SA
purchase order, whether Ortak Antidoto SA will order additional
Mullen-GO vehicles and whether the Mullen-GO will be a success.
Additional examples of such risks and uncertainties include but are
not limited to: (i) Mullen’s ability (or inability) to obtain
additional financing in sufficient amounts or on acceptable terms
when needed; (ii) Mullen's ability to maintain existing, and secure
additional, contracts with manufacturers, parts and other service
providers relating to its business; (iii) Mullen’s ability to
successfully expand in existing markets and enter new markets; (iv)
Mullen’s ability to successfully manage and integrate any
acquisitions of businesses, solutions or technologies; (v)
unanticipated operating costs, transaction costs and actual or
contingent liabilities; (vi) the ability to attract and retain
qualified employees and key personnel; (vii) adverse effects of
increased competition on Mullen’s business; (viii) changes in
government licensing and regulation that may adversely affect
Mullen’s business; (ix) the risk that changes in consumer behavior
could adversely affect Mullen’s business; (x) Mullen’s ability to
protect its intellectual property; and (xi) local, industry and
general business and economic conditions. Additional factors that
could cause actual results to differ materially from those
expressed or implied in the forward-looking statements can be found
in the most recent annual report on Form 10-K, quarterly reports on
Form 10-Q and current reports on Form 8-K filed by Mullen with the
Securities and Exchange Commission. Mullen anticipates that
subsequent events and developments may cause its plans, intentions
and expectations to change. Mullen assumes no obligation, and it
specifically disclaims any intention or obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by law.
Forward-looking statements speak only as of the date they are made
and should not be relied upon as representing Mullen’s plans and
expectations as of any subsequent date.
Contact:Mullen Automotive, Inc.+1 (714)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
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