Mullen Automotive Inc. (Nasdaq: MULN) said yesterday it partnered with Ireland-based dealership operator Newgate Motor Group to facilitate marketing and distribution for the I-GO, the company’s newest commercial delivery EV, in Ireland and the U.K.
The Brea-based EV maker will provide Newgate with 500 vehicles per year along with parts, sales and service training and “similar matters that an OEM would typically provide to its dealers,” the company said. Mullen expects that Newgate’s first order of I-GO vehicles will be delivered next December.
“This is a highly strategic partnership for Mullen, with Newgate being one of Ireland’s most recognizable dealers for new and used vehicles,” Mullen CEO David Michery said in a statement. “It brings us an incredible opportunity to enter the commercial EV market in Europe with a very successful retail group.”
Shares climbed 9% to 29 cents each and a $167 million market cap. The shares are still 98% off their 52-week of $15.89 a year ago.
