Mullen Automotive, Inc. (MULN) is making significant moves in the global electric vehicle market. The company recently announced an update on Volt Mobility’s $210 million commercial Class 1 and Class 3 EV order. As part of its international expansion strategy, Mullen’s technical and sales teams traveled to Dubai this week to work with Volt’s leadership and initiate the launch of their electric vehicles in the UAE market.
“The UAE represents a crucial market and opportunity for us, and we made sure to have technical and sales team members in Dubai this week to meet with Volt leadership, ensuring a successful launch,” stated David Michery, CEO and chairman of Mullen Automotive. This partnership includes the delivery of the first Mullen ONE electric cargo vans and Mullen THREE cab chassis trucks, scheduled for September 18, 2024.
The collaboration between Mullen and Volt goes beyond the initial order. The companies have also outlined plans to deliver 300 all-electric commercial vehicles in 2024, with an ambitious target of 3,000 vehicles in 2025. To support Volt Mobility’s fleet operations, Mullen will establish a dedicated parts and service network.
In addition to the Volt Mobility partnership, Mullen’s subsidiary, Bollinger Motors, is gearing up for the launch of its 2025 Bollinger B4 Chassis Cab electric truck. With serial production commencing this week, the company is set to begin delivering vehicles to customers in October 2024. The B4 will have a manufacturer’s suggested retail price (MSRP) of $158,758 and is eligible for federal and state incentives that could exceed $100,000.
The news of Mullen’s global expansion efforts has positively impacted its stock price, with MULN shares trading higher by 2.08% to $7.85 at the end of the trading day on Friday.
