Mullen Automotive, Inc. (MULN) shares are experiencing a dip on Friday, despite the company making notable strides in its electric vehicle endeavors. The stock is trading lower by 9.28%, currently priced at $3.13.
One of the recent developments that has been generating buzz is the partnership between Mullen and National Auto Fleet Group (NAFG). This collaboration aims to bring Mullen’s all-electric Class 4 Bollinger B4 commercial trucks to government agencies. The Bollinger B4 Chassis Cab, a fully electric truck, boasts an impressive range of 185 miles and a payload capacity of 7,394 pounds. Its versatility and high performance make it ideal for a range of tasks, attracting commercial, government, and municipal fleets seeking to electrify their operations.
Jim Connelly, Bollinger’s Chief Revenue Officer, highlighted the significance of this partnership, stating, “Government agencies and municipalities are often early adopters for electrification and electric vehicle fleets. We look forward to partnering with NAFG, and their history of bringing innovative products and solutions to this important segment.”
Adding to Mullen’s momentum, its Class 1 EV cargo van, the Mullen ONE, is now available for rent on the popular vehicle-sharing marketplace, Turo. This initiative is a collaborative effort with Parasol Strategic Solutions, a leading Turo host based in Florida.
In recent months, Bollinger Motors has been making strong strides in its delivery efforts. Last month, the company completed its first West Coast delivery of 2025 Bollinger B4 trucks, generating revenue of approximately $500,000. This accomplishment was followed by the company’s first customer delivery of the 2025 Bollinger B4 Chassis Cab, adding another $800,000 to its revenue stream.
Despite these positive developments and advancements, the decline in Mullen Automotive’s stock price raises questions about market sentiment and investor confidence. It remains to be seen how the company will navigate these challenges and capitalize on its recent achievements to achieve sustained growth.
