Changes for page Mullen Automotive Inc

Last modified by Asif Farooqui on 2022/12/22 16:40
From version < 6.1 >
edited by Asif Farooqui
on 2022/12/09 06:31
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edited by Wilton Risenhoover
on 2022/12/16 01:26
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9 9  * In Sept 2022 Mullen Acquired Majority Ownership in Bollinger Motors
10 10  * In Dec 2022 Mullen Completes Acquisition of ELMS Assets
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16 16  Mullen Automotive Inc. (Nasdaq: MULN) operates a Southern California-based electric vehicle company that operates in various verticals of businesses focused within the automotive industry. The Company has two electric vehicles under development, one of which the company expect to begin delivery of in the second quarter of 2024. Mullen has several divisions that operate synergistic businesses, being: CarHub, a digital platform that leverages artificial intelligence to offer an interactive solution for buying, selling and owning a car, and Mullen Energy, a division focused on advancing battery technology and emergency point-of-care solutions.
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19 19  = Recent Developments =
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21 21  **Mullen Completes Acquisition of ELMS Assets**{{footnote}}https://news.mullenusa.com/mullen-automotive-officially-closes-on-acquisition-of-elms-assets-takes-possession-of-plant-in-mishawaka-ind.-all-intellectual-property-and-related-inventory{{/footnote}}
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49 49  * Change in debt –77% - The 77% debt reduction minimizes debt overhang problem and implies that equity holders can invest in a company positioned for growth and sound financial performance.
50 50  * 281% increase in R&D spending - Company has increased its spending for R&D, which primarily relates to engineering costs for the Mullen FIVE and Mullen EV cargo van programs.
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53 53  == Program Update ==
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55 55  Mullen is pleased to announce progress recently made in both engineering and manufacturing areas by advancing its solid-state battery technology to the pack level and continuing to build up its battery assembly operation.
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87 87  With proximity to all major rail lines, interstates, Mississippi river systems, and air logistics, its Tunica factory is located in a primary logistical center of North America. The automotive suppliers of the Southeast corridor, the Midsouth Tennesse region, and the North Delta region. Tunica will be home to production for Class 1 - 6 commercial EVs.
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90 90  = References =
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92 92  {{putFootnotes/}}
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