Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower on Monday. The company disclosed the sale of its all-electric Mullen ONE Class 1 cargo van to Global Expert Shipping.
The order will be fulfilled through Mullen's national EV dealer partner, Pritchard Automotive, with additional orders anticipated.
Global Expert is integrating Mullen's commercial EVs into its fleet to better align with its operational requirements.
Also Read: EV Maker Mullen Automotive To Further Cut Costs And Slash Workforce: Details
The addition of the Mullen ONE will help the company lower its carbon footprint while supporting its specific transportation needs.
David Michery, CEO and chairman of Mullen Automotive. "Our commercial EVs not only meet the specific needs of shipping companies like Global Expert but also offer significant total cost of ownership (TCO) savings."
This month, the company said it would implement a 1-for-100 reverse stock split of its common shares, effective April 11, 2025, just after midnight Eastern Time.
The company stated that all of its existing commercial EV models, along with those produced by its subsidiary, Bollinger Motors, are built entirely in the U.S.
Price Action: MULN shares are down 16.10% at $1.83 at the last check on Monday.
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Photo via Mullen
