EV Truck Maker Mullen Automotive Announces $825K Deal

Mullen Automotive, Inc. MULN announced Tuesday that Bollinger Motors will sell five all-electric Class 4 Bollinger B4 commercial trucks to Spencer Manufacturing. 

The Details:

Mullen said Spencer Manufacturing will upfit the five electric vehicles into fire rescue trucks, and the vehicle order is valued at approximately $825,000.

Last week, the company announced the first sale of its Mullen Commercial EVs in Massachusetts through its new dealer partner, Eco Auto. The initial delivery will go to a Massachusetts-based company offering custom home building, home renovations and maintenance, property management and painting services.

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The Mullen THREE Class 3 EV cab chassis truck qualified for a $15,000 incentive through the State of Massachusetts MOR-EV program in June. 

According to data from Benzinga Pro, Mullen shares are down by more than 18% over the past month and trading well-below the stock’s 50-day moving average of $3.91. 

How To Buy MULN Stock:

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Mullen Automotive's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

MULN Price Action: According to Benzinga Pro, Mullen Automotive shares are down 4.37% at $2.19 at the time of publication Tuesday.

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Image: Courtesy of Mullen Automotive, Inc.