What's Going On With Mullen Automotive Stock On Tuesday?

Mullen Automotive, Inc. MULN shares are trading higher on Tuesday after the electric vehicle manufacturer revealed a key legal development to resolve its longstanding dispute with GEM Yield Bahamas Limited and GEM Global Yield (GEM).

The company announced it had signed a settlement agreement with GEM on May 9, 2025. Under the deal, GEM will conduct a 55-day due diligence review, which may be extended at GEM’s discretion, to evaluate the transfer of Mullen’s Mishawaka, Indiana assets.

If completed, the transfer would fully satisfy the existing judgment. During this review period, all collection actions have been suspended.

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David Michery, Chairman and CEO of Mullen, expressed optimism about the resolution, stating, “After four years of litigation, we have executed a settlement agreement which provides a path forward to a full resolution with GEM and puts this matter behind us.” He added, “I look forward to a great rest of 2025 and continued growth thereafter.”

The company continues expanding its core operations, particularly at its manufacturing site in Tunica, Mississippi. The facility supports scaling its electric commercial vehicle lineup to meet increasing demand.

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In April, Mullen disclosed that Global Expert Shipping purchased its all-electric Mullen ONE Class 1 cargo van. The transaction is being handled through Mullen’s national dealership partner, Pritchard Automotive.

The buyer intends to integrate these EVs into its fleet to better align with sustainability goals, and additional orders are anticipated.

Price Action: MULN shares are trading higher by 5.50% to $0.1766 at the last check on Tuesday.

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