Electric vehicle maker Mullen Automotive Inc. (Nasdaq: MULN) in Brea said it has received a $15.8 million order for trucks from MGT Lease Co.
The purchase agreement is for 250 class 3 cab chassis EV trucks. Delivery is scheduled to start in August, with complete fulfillment of the purchase agreement by December.
MGT is a growing commercial vehicle sales and leasing company based in North Carolina, with annual revenue of over $70 million in 2022 and $100 million projected for 2023.
Shares in Mullen were little changed in after-hours trading after having risen 0.7% to $1.40 each for a market cap of $220 million.