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The latest update is out from Mullen Automotive ( (MULN) ).
Mullen Automotive has submitted an updated plan to the U.S. Department of Energy seeking $55 million in grant funding for domestic battery materials processing. This plan includes using facilities in Mishawaka, Indiana, and Fullerton, California, to enhance U.S.-based battery production capabilities. The company has invested significant resources to advance its battery manufacturing operations, including strategic acquisitions and infrastructure improvements. Mullen aims to deliver its first production units by mid-2025 and has plans to launch additional production lines in subsequent years. These developments aim to strengthen Mullen’s position in the battery manufacturing industry and align with the DOE’s goals for clean energy and advanced U.S. manufacturing.
More about Mullen Automotive
Mullen Automotive is a Southern California-based company that specializes in manufacturing commercial electric vehicles (EVs). It operates two vehicle plants in Tunica, Mississippi, and Mishawaka, Indiana. The company offers the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck, both certified by the California Air Resource Board and the EPA. Mullen has expanded its commercial dealer network to seven dealers across key U.S. regions.
YTD Price Performance: -90.76%
Average Trading Volume: 3,449,720
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $11.65M
For an in-depth examination of MULN stock, go to TipRanks’ Stock Analysis page.
