Breaking #EV #Stock News: Mullen (NASDAQ: $MULN) Announces Funding to Close on ELMS Assets; @Mullen_USA

Breaking #EV #Stock News: Mullen (NASDAQ: $MULN) Announces Funding to Close on ELMS Assets; @Mullen_USA

 

Existing Shareholders Invest $150 Million to Accelerate Production and Delivery of EVs

 

BREA, Calif. - November 17, 2022 (Investorideas.com Newswire) Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an emerging electric vehicle (“EV”) manufacturer, announces today receipt of $150 million on Nov. 16, 2022, which will be used in part to close on ELMS assets.

 

Read this news, featuring MULN in full at https://www.investorideas.com/CO/MULN/news/2022/11171Funding-ELMS-Assets.asp

 

Mishawaka Indiana Factory for the Mullen FIVE and Bollinger B1 and B2 EVs

Mullen is now in position to fund and close on ELMS assets and complete engineering, preparation and launch of EVs.

 

"We are excited to announce today that we have the funding in place to close on the ELMS asset acquisition," said David Michery, CEO and chairman of Mullen Automotive.

 

"We expect to close quickly on the ELMS transaction. This will accelerate market introduction of our cargo van program and provide us with critical manufacturing capacity at a much lower investment than previously expected to supply the rest of our product portfolio."

 

ELMS assets include:

• The factory in Mishawaka, Indiana, providing Mullen with the capability to produce up to 50,000 vehicles per year
• All Intellectual Property, including all manufacturing data that is required for the assembly of the Class 1 van and Class 3 Cab Chassis
• All inventory including finished and unfinished vehicles, part modules, component parts, raw materials, tooling
• All property including equipment, machinery, supplies, computer hardware, software, communication equipment, data networks and all other data storage

 

"The completion of this acquisition brings together the critical enablers for our business strategy. With our Mullen, Bollinger and ELMS assets, as well as our plants, we are now in a unique position to be a leader in the new EV auto market," said Michery.

 

About Mullen

Mullen Automotive is a Southern California-based automotive company building the next-generation of premium electric vehicles (EVs) that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. The Mullen FIVE, the company's first electric crossover, is slated for delivery in 2024 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. To learn more about the company, visit www.MullenUSA.com.

 

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to when the ELMS closing will occur, whether the closing will result in accelerating the Company's programs and production, whether the funding terms and the closing on ELMS assets will result in positive outcomes for shareholders. Further examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen's plans and expectations as of any subsequent date.

 

Contact:

Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

 

Mullen Automotive, Inc. (OTCQB:MULN) is a featured EV stock on

Investorideas.com

 

More info on MULN at Investorideas.com Visit: https://www.investorideas.com/CO/MULN/

 

Get News Alerts on EV Stock MULN

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created:  Mullen Automotive, Inc. (MULN) is a paid featured EV stock. More details https://www.investorideas.com/About/News/Clientspecifics.asp. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

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#EV Companies on the Rise: (NASDAQ: $MULN) (NASDAQ: $TSLA) (NYSE: $NIO) (NASDAQ: $RIVN) @Mullen_USA @tesla @NIOGlobal @Rivian

#EV Companies on the Rise: (NASDAQ: $MULN) (NASDAQ: $TSLA) (NYSE: $NIO) (NASDAQ: $RIVN) @Mullen_USA @tesla @NIOGlobal @Rivian

 

The Battle for the Top EV Manufacturer is Only Just Beginning

 

Vancouver, Kelowna, Delta, BC - November 16, 2022 -  Investor Ideas Investorideas.com, a leading investor news resource covering EV stocks releases a special report on the continued growth within the sector, despite supply chain and resource issues.  As the sector gains more momentum, more competition is coming to market up against favored EV manufacturer Tesla, from both domestic and international companies.

 

Read this article, featuring MULN in full at https://www.investorideas.com/news/2022/renewable-energy/11161EV-Manufacturers.asp

 

Emerging electric vehicle (“EV”) manufacturer, Mullen Automotive, Inc. (NASDAQ: MULN),  announced recently that it has successfully completed the third stop of the Mullen FIVE ‘Strikingly Different’ EV Crossover Tour in Las Vegas, Nevada. Mullen continues onwards to Texas, with its most recent stop in Dallas on November 14th. The tour’s first three stops — Pasadena, CA, Anaheim, CA, and Las Vegas, NV — were completely booked out and saw an overwhelmingly positive response from participants. Mullen had great interactions in Las Vegas, including a visit from Social Media EV influencer, Joe Fay.

 

From the news: Joe is a well-known Tesla EV influencer with over a billion views across TikTok, YouTube, and Facebook. “I’m completely blown away by the design, craftsmanship, and quality of the FIVE and can’t wait to get this vehicle out in front of my fans.”

 

Continued: The Mullen FIVE EV Crossover on tour is equipped with a completely updated infotainment system featuring PERSONA, Mullen’s proprietary Personal Vehicle Assistant (PVA), which utilizes facial recognition technology to provide every driver with a highly personalized experience. Participants had the opportunity to interact with and witness PERSONA in action.

 

“This tour not only allows the public to see what Mullen has to offer and what we have been working on but also allows us to hear what the public has to say about the FIVE,” said David Michery, CEO and Chairman of Mullen Automotive. “We are gathering customer inputs from everyone on the tour and will be working on integrating the feedback gathered into the Mullen FIVE over the next few months.”

 

This follows the company’s recent announcement that it has entered into an agreement to appoint Newgate Motor Group, one of Ireland’s most recognized dealership groups, as the marketing, sales, distribution and servicing agent for the Mullen I-GO™ in Ireland and the United Kingdom.

 

From the news: The I-GO™ is Mullen’s recently announced urban commercial delivery vehicle, designed to bridge the gap between the growing demand for quick deliveries and space constraints in dense cities throughout Europe. The Mullen I-GO™ is EU standard homologated, certified and ready for sale in initial markets of the U.K., Germany, Spain, France and Ireland, with the first vehicles set to be released in Germany in December 2022.

 

Continued: Mullen and Newgate will also enter into a dealer agreement, which will encompass sales training, service training, flooring, parts, warranty and similar matters that an OEM would typically provide to its dealers. That agreement will also address the terms upon which Newgate Motor Group will purchase the initial units of the I-GO™ for vehicle demonstrations and the 500-vehicles-per-year purchase order. The expected delivery date for the first shipment of vehicles is Dec. 20, 2022.

 

“This is a highly strategic partnership for Mullen, with Newgate being one of Ireland’s most recognizable dealers for new and used vehicles; it brings us an incredible opportunity to enter the commercial EV market in Europe with a very successful retail group,” said David Michery, CEO and Chairman of Mullen Automotive. “We are currently working closely with Newgate on the importation, registration and licensing requirements for the successful import and distribution of the I-GO™ into Ireland and the United Kingdom.”

 

NIO Inc. (NYSE: NIO), the leading Chinese company in the premium smart electric vehicle market, recently announced its unaudited financial results for the third quarter ended September 30, 2022.

 

“NIO delivered 31,607 vehicles in the third quarter of 2022, representing a solid growth of 29.3% year-over-year and achieving a record-breaking quarterly delivery. Following the delivery of our new product lineup based on NIO Technology 2.0 catering to different market segments, we have witnessed strong growth momentum in user demand and robust foot traffic, especially after the debut of ET5s in stores from September, and expect the ET5 delivery will support a substantial acceleration of our overall revenue growth in the fourth quarter of 2022. To meet the growing user demand and shorten the waiting time, we have been working closely with supply chain partners to accelerate production and delivery," said William Bin Li, Founder, Chairman and Chief Executive Officer of NIO.

 

“At the NIO Berlin 2022 on November 7, we introduced our compelling products and holistic service system to more users in Europe. Encouraged by the rave reviews from the local users and media, we have full confidence in our future performance in Europe,” added Mr. Li.

“We achieved solid top line growth in the third quarter of 2022 against a challenging market environment,” added Steven Wei Feng, Chief Financial Officer of NIO. “We aim to consistently enhance the holistic user experience for our global user community by investing in core technology development as well as power network expansion, while continuously improving our operational execution and efficiency.”

 

A recent Reuter’s article reports, “Chinese electric automaker Nio Inc reported a bigger quarterly loss due to a jump in costs, and said it expects deliveries to almost double in the current quarter. Most Chinese electric vehicle (EV) makers are battling higher battery prices, intensifying competition and a rise in cost of sales. Sales at Nio, Xpeng Inc and Li Auto Inc have surged in recent quarters on robust demand, helping them emerge as strong rivals to home-grown BYD Co and U.S.-based Tesla Inc.”

 

Rivian Automotive, Inc. (NASDAQ: RIVN) also recently published a letter to its shareholders containing the company’s third quarter 2022 financial results. The letter is available on its investor relations website (https://rivian.com/investors).

 

In the letter, Rivan management commented, “The past year has represented important progress for Rivian’s long-term success. We launched four variants across our consumer and commercial vehicle platforms, were awarded MotorTrend’s Truck of the Year along with other media accolades, produced more than 15,000 vehicles and continue to ramp our production, and launched our go-to-market operations and services including our physical service centers and mobile service vehicles, delivery operations, FleetOS, financing, insurance, remarketing, and the Rivian Adventure Network; our in-house developed and produced direct current fast-chargers. It has been rewarding to see the excitement and enthusiasm for our first-generation products. Over the recent months, we achieved key operational and strategic milestones. Production continued to ramp on our R1 and RCV platform lines; we produced 7,363 total vehicles during the quarter representing a 67% increase as compared to the second quarter of 2022. We recently initiated our second manufacturing shift and remain focused on ramping production to meet the strong demand for our products. As we navigate through these uncertain economic times, we are encouraged by the strong demand for our products as evidenced by our robust pre order backlog. The third quarter was also important for our commercial business. Amazon recently announced its custom EDVs are making deliveries in over 100 U.S. cities. In addition, in September we announced the signing of a Memorandum of Understanding (“MOU”) for a strategic partnership with Mercedes-Benz which reflects our shared goal to rapidly scale the production of electric vans to help the world transition to cleaner transportation.”

 

A recent Motley Fool article reported, “EV leader Tesla (TSLA -2.56%) on Friday, November 11th, was underperforming start-ups like Lucid Group (LCID -5.42%) and Rivian Automotive (RIVN -1.49%). While Lucid and Rivian shares jumped nearly 9% and over 5%, respectively, Tesla stock didn't spike. As of 2 p.m. ET, Tesla shares were up just 2.5%, while Lucid and Rivian stocks were higher by 6.2% and 4.5%, respectively.”

 

The article continued, “Lucid and Rivian both reported third-quarter earnings updates this week, and it was a mixed bag. Both continue to lose vast amounts of money, which was expected. The response to Rivian's report was more positive because its pre-order backlog continues to grow, and the company is quickly ramping up production volumes. Lucid reported a decline in reservations but said it still expects to hit its conservative production target for 2022. Both companies have a large amount of cash on hand. But Rivian expects its cash balance to carry it just through 2025 and Lucid only into the fourth quarter of next year. “

 

Tesla Inc. (NASDAQ: TSLA) shares have fluctuated recently as investors seem to be wondering just how much time and money Twitter might cost Musk. After his most recent share sales, it's reasonable to wonder if there will be more coming if Twitter needs more cash injections. It also follows that a struggling business will take more of Musk's time and attention.

 

This follows recent Reuters news that “Tesla has cut the delivery waiting time for all Model 3 and Model Y vehicles to a minimum of one week. The U.S. automaker added to its electric vehicle inventory in Shanghai at its fastest pace ever in October, data from China Merchants Bank International (CMBI) showed, at a time when automakers and investors are bracing for a downturn in the world’s largest car market.”

 

“Tesla had cut prices for its Model 3 and Model Y cars in China last month to boost sales.

Last week, the company offered an additional rebate for buyers who take delivery this month and buy insurance from one of Tesla's partners.“

 

From recent news at BNNBloomberg; “China just reported electric-vehicle sales data for October, and the numbers continue to break records. A total of 722,000 plug-in passenger and commercial vehicles were sold. Battery-electric vehicles were 22% of the passenger car market, and plug-in hybrids claimed another 9% share.”

 

As sales continue to expand both domestically and internationally, both long-time EV manufacturers like Tesla and newcomers like Mullen Automotive will have to continue to innovate and find new approaches in marketing to stand out and gain real market share. As we see the overall EV market move from the hypothetical to a global reality, the battle for the top EV manufacturer is only just beginning.

 

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Breaking #EV #Stock News: Mullen’s (NASDAQ: $MULN) ‘Strikingly Different’ EV Crossover Tour Heads to #Texas After Completing a Successful Sold Out Stop in Las Vegas; @Mullen_USA

Breaking #EV #Stock News: Mullen’s (NASDAQ: $MULN) ‘Strikingly Different’ EV Crossover Tour Heads to #Texas After Completing a Successful Sold Out Stop in Las Vegas; @Mullen_USA

 

The Mullen FIVE “Strikingly Different” US tour is in Texas this week, with the first stop in Dallas on Nov 14-15th, followed by Houston on Nov 18-19.

 

     

The Mullen FIVE EV Crossover “Strikingly Different” tour at the Las Vegas Motor Speedway on Thursday, Nov. 10, in Las Vegas, Nevada.

 

 

BREA, Calif., November 15, 2022 - (Investorideas.com Newswire) - Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today that it has successfully completed the third stop of the Mullen FIVE Strikingly Different EV Crossover Tour in Las Vegas, Nevada. Mullen continues onwards to Texas, with stops this week in Dallas and Houston.

 

Read this news, featuring MULN in full at https://www.investorideas.com/CO/MULN/news/2022/11151EV-Crossover-Tour-to-Texas.asp

 

The tour's first three stops — Pasadena, California;  Anaheim, California; and Las Vegas, Nevada — were completely booked out and saw an overwhelmingly positive response from participants. Mullen had great interactions in Las Vegas, including a visit from Social Media EV influencer, Joe Fay. Joe is a well-known Tesla EV influencer with over a billion views across TikTok, YouTube, and Facebook.

 

“I’m completely blown away by the design, craftsmanship, and quality of the FIVE and can’t wait to get this vehicle out in front of my fans,” Fay said.

 

The Mullen FIVE EV Crossover vehicle on tour is equipped with a completely updated infotainment system featuring PERSONA, Mullen’s proprietary Personal Vehicle Assistant (PVA), which utilizes facial recognition technology to provide every driver with a highly personalized experience. Participants had the opportunity to interact with and witness PERSONA in action.

 

“This tour not only allows the public to see what Mullen has to offer and what we have been working on but also allows us to hear what the public has to say about the FIVE,” said David Michery, CEO and chairman of Mullen Automotive. “We are gathering customer inputs from everyone on the tour and will be working on integrating the feedback gathered into the Mullen FIVE over the next few months.”

 

The tour is in Texas this week before it continues onwards to several southeastern states. Please visit MullenUSA.com to learn more about the upcoming Mullen FIVE “Strikingly Different” Tour.

 

November 2022

Dallas, Texas – Nov. 14 & 15 @ Globe Life Field — To Book Slot

Houston, Texas Nov. 18 & 19 @ Minute Maid Park — To Book Slot

 

December 2022

Memphis, Tennessee – Nov. 30 & Dec. 1 @ Wolfchase Galleria — To Register

Miami, Florida — Dec. 5 & 6 @ loanDepot park — To Register

Atlanta, Georgia – Dec. 10 & 11 @ Atlanta Motor Speedway — To Register

Charlotte, North Carolina – Dec 15 & 16 @ Charlotte Motor Speedway — To Register

 

In Spring 2023, Mullen will launch the second leg of the “Strikingly Different” Tour with a focus on the East Coast, Midwest and northwest before finishing up in northern California. The second leg of the tour will feature the Mullen FIVE RS, which is a high-performance EV sport crossover featuring 1,100 horsepower, a top speed of 200 mph, and acceleration from 0-60 mph in just 1.9 seconds.

 

Mullen is offering “front row” FIVE reservation holders the first chance to experience the Mullen FIVE in person on the “Strikingly Different” U.S. tour now underway. Mullen asks interested individuals who have not already done so to book their FIVE reservations here in order to secure a priority spot on this exciting national tour. Further details and upcoming progress will be shared on Mullen’s social media platforms and with individuals who opt to stay connected here.

 

About Mullen

Mullen Automotive is a Southern California-based automotive company building the next generation of premium electric vehicles (EVs) that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. The Mullen FIVE, the Company’s first electric crossover, is slated for delivery in 2024 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. To learn more about the company, visit www.MullenUSA.com.

 

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to whether the contemplated dates, locations and times of the “Strikingly Different” Tour, proposed second leg of the tour featuring the Mullen FIVE RS and any other contemplated Mullen vehicle demonstrator tours will materialize and if so, whether they will prove successful for the Company, and whether the Mullen FIVE RS or other Mullen vehicles will have the speed, range and other features contemplated. Additional examples of such risks and uncertainties include but are not limited to; (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (ix) adverse effects of increased competition on Mullen’s business; (vii) changes in government licensing and regulation that may adversely affect Mullen’s business; (viii) the risk that changes in consumer behavior could adversely affect Mullen’s business; (ix) Mullen’s ability to protect its intellectual property; and (x) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.

 

Contact:

Mullen Automotive, Inc.

+1 (714) 613-1900

www.MullenUSA.com

 

Wire Service Contact:

InvestorWire (IW)

Los Angeles, California

www.InvestorWire.com

212.418.1217 Office

Editor@InvestorWire.com

 

Mullen Automotive, Inc. (OTCQB:MULN) is a featured EV stock on

Investorideas.com

 

More info on MULN at Investorideas.com Visit: https://www.investorideas.com/CO/MULN/

 

Get News Alerts on EV Stock MULN

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created:  Mullen Automotive, Inc. (MULN) is a paid featured EV stock. More details https://www.investorideas.com/About/News/Clientspecifics.asp. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

 

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