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Mullen Announces the Sale of 22 EV Cargo Vans to Randy Marion Automotive Group; Sales Revenue to Be Recognized in Upcoming 10-Q

REVENUE OF $308,000 BOOKED AND RECORDED FOR QUARTER ENDING JUNE 30, 2023

Mullen Automotive, Inc., an EV manufacturer, announced the sale of 22 EV cargo vans to Randy Marion Automotive Group. The $308,000 is the company’s first recorded revenue, which Mullen will recognize in the quarter ending June 30, 2023. All vehicles are in que to ship from Mullen’s Tunica, Mississippi, plant to Randy Marion Automotive Group in North Carolina. Randy Marion is the authorized distributor of Mullen’s commercial EVs in the US.

Mullen is in process with six Campus EV Pilot Programs across four different industry categories; these include aviation, pharmaceutical, public utility, and universities. Mullen anticipates to announce the program details further in future announcements.

Additionally, the company will produce all Mullen commercial vehicles at Mullen’s Tunica assembly plant. The Campus EV Cargo Van is available now for purchase. Further, start of production for the Class 3 EV Cab Chassis Truck will begin in July with first vehicle deliveries in August and September 2023.

“We continue to receive great interest from around the country for Mullen’s different commercial EVs, and the campus van is proving to be a great fit with various different closed campus commercial applications,” says Brad Sigmon, vice president of RMA Fleet Operations.

MULLEN ON TOUR

The Mullen team has been active nationwide recently, showcasing the Mullen Class 1 and Class 3 vehicles at events. The team has also facilitated including test drive opportunities at multiple locations. The public will also be able to experience Mullen’s commercial vehicle lineup at the upcoming 2023 “Strikingly Different” US tour. The tour will feature several Mullen EVs, including the Mullen FIVE as well as Mullen FIVE RS crossovers, Mullen ONE commercial Class 1 van, Mullen THREE commercial Class 3 truck, Bollinger B1, B2, and B4, and the new Mullen GT sports car.

“These shipments are significant as they represent the first revenue recorded on our financial statement, reflected on the June 30, 2023, 10-Q,” says David Michery, CEO and chairman of Mullen Automotive, Inc.

Find out more, visit www.mullenusa.com.

 

 

News courtesy of InvestorBrandNetwork (IBN)

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