What's Going On With Mullen Automotive Shares Today?

On Thursday, Mullen Automotive, Inc. MULN announced a vehicle battery exchange program for current Class 1 EV cargo van customers. 

In a press release, Mullen said POWER BOOST is a battery exchange initiative that allows customers to upgrade from lithium-ion to solid-state polymer battery packs, potentially extending vehicle range beyond 200 miles.

In February 2024, Mullen commenced road testing of Class 1 EV cargo vans equipped with integrated solid-state polymer battery packs.

Also Read: What’s Going On With ChargePoint Shares Today?

Mullen has reached key milestones in integrating these batteries into the Mullen ONE, including securing primary suppliers and initiating initial purchase orders to support the program.

“We value the investment and confidence that our customers place in our vehicles,” said David Michery, chairman and CEO of Mullen Automotive. 

Earlier this week, the company revealed that its subsidiary Bollinger Motors will sell five all-electric Class 4 Bollinger B4 commercial trucks to Spencer Manufacturing. 

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

In a press release dated July 2,  the company revealed the first sale of its Mullen Commercial electric vehicles 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.

Price Action: MULN shares are trading higher by 0.69% to $2.195 at last check Thursday.

Photo: Courtesy of Mullen Automotive, Inc.

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