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Wednesday, Jun 19, 2024
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Mullen Automotive Starts Production of First EV Truck

Brea-based company expects 3,000 Mullen Three vehicles annually

Brea-based electric-vehicle manufacturer Mullen Automotive Inc. (Nasdaq: MULN) said today it had started production of its Mullen Three truck.

The commercial truck rolled off the assembly line at the company’s Tunica, Miss., factory. It is Mullen’s first vehicle to go into production.

So far, the company has received $79 million in purchase orders from Randy Marion Automotive Group and MGT Lease Company for the Mullen Three truck.

The company’s shares fell 23% to 48 cents apiece for a market cap of $87.7 million.

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