Why Mullen Automotive Shares Are Gaining Thursday

Mullen Automotive, Inc. MULN shares are trading higher in the premarket session on Thursday after ending yesterday’s run on the bourses with a massive 21.9% slump.

The company revealed its plans to broaden its U.S. dealer network by partnering with Pritchard EV, a prominent commercial dealer nationwide. 

“Pritchard EV is a national leader in the adoption of electric vehicles with commercial fleets,” said David Michery, chairman and CEO of Mullen Automotive. 

This collaboration marks a significant step in Mullen’s expansion of its commercial EV lineup, targeting both regional and national fleet opportunities.

With immediate effect, Pritchard EV will provide customers across the U.S. access to Mullen’s Commercial EV lineup, featuring the Mullen ONE and Mullen THREE models.

Mullen’s commercial EV lineup includes the Mullen ONE, Class 1 EV cargo van and Mullen THREE, Class 3 EV cab chassis truck.

“Pritchard understands fleets and is at the forefront of electrification and infrastructure, and its commitment to work with customers both domestically and globally to build best practices is what the industry needs,” Michery adds.

Last month, the company said it received certification from the California Air Resources Board on the 2025 Mullen THREE, Class 3 all-electric low cab forward chassis truck.

“Our vehicles are CARB approved and ready for delivery with many states and local governments offering very strong incentives to electrify commercial fleets,” Michery had said.

Mullen Automotive said that the certification is awarded to vehicle manufacturers who meet specific emissions standards in compliance with CARB regulations.

Price Action: MULN shares are trading higher by 2.04% to $5.01 premarket at the last check Thursday.

Image: Courtesy of Mullen Automotive, Inc.