Mullen Automotive, Inc. (MULN) stock surged after the company secured a significant purchase agreement with UAE’s Volt Mobility. The deal involves the delivery of 3,000 Class 1 and Class 3 electric cargo vans and trucks over the next 16 months, generating an estimated $210 million in revenue for Mullen. Volt plans to lease these vehicles to businesses across the Middle East, signifying Mullen’s expansion into a new market.
Mullen Automotive, Inc. (MULN) announced on Monday the completion of the first phase of battery line integration at its high energy facility. The project involved the startup, debugging, and early-stage commissioning of the initial two battery assembly lines. The company expects to hire over 200 people for battery production and operational support once the production line starts in early 2025. CEO David Michery stated that the new battery assembly plant is a testament to the company’s commitment to US battery production and strengthens its market position.
