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- Mullen Automotive stock experienced a remarkable 15% surge on Tuesday before closing just below 10%.
- MULN stock seems to be at the start of a technical rally.
- CES 2024 kicked off on Tuesday and will continue through Friday.
- Mullen revealed its Mullen Five RS crossover at the event.
Mullen Automotive (MULN) stock saw its strongest performance of the year with a 9.8% gain on Tuesday. MULN shot up nearly 15% earlier in the day after unveiling its Mullen Five RS vehicle at Las Vegas’ 2024 Consumer Electronics Show (CES) before pulling back.
The CES is the ultimate showcase for all things consumer tech, and Mullen was thrilled to exhibit a range of its latest vehicles alongside more well-known manufacturers like Mercedes-Benz and Honda.
Mullen stock news: Mullen Five debuts at CES 2024
The Mullen Five crossover, the company’s first venture into the passenger electric vehicle (EV) market, won’t hit the market until 2025 at the earliest, but Mullen is already showcasing its high-performance version.
The Mullen Five RS boasts top speeds of over 200 MPH and acceleration from 0 to 60 MPH in under two seconds. The crossover also comes with over 1,000 horsepower.
In addition to the Mullen Five RS, the electric automaker will exhibit its two commercial vehicles already in production, which are the Mullen One electric delivery van and the Mullen Three electric chassis semi-truck cab.
The Bollinger 1 SUV, Bollinger 2 pickup truck, and the Bollinger 4 semi-truck chassis cab will also be on display at the Las Vegas Convention Center through Friday, January 12.
Mullen announced on Monday that it has applied for a $50 million grant that would be used for equipment to produce more efficient battery packs for its vehicles. The Department of Energy is issuing grants as part of its $3.5 billion Funding Opportunity for Battery Materials initiative that is part of the Biden administration’s bipartisan infrastructure bill.
Mullen Automotive FAQs
What is Mullen Automotive?
Mullen Automotive is a publicly-traded development-stage electric vehicle company based in Brea, California that typically uses outside partnerships to manufacture its vehicles. The company was founded in 2014 and currently sells self-designed electric delivery vehicles. Besides its commercial offerings, Mullen plans to begin manufacturing its Mullen FIVE EV crossover in late 2024 or early 2025. Mullen Automotive went public on the NASDAQ exchange through a reverse merger in late 2021.
Who is the team behind Mullen Automotive?
David Michery has been the company’s CEO since he founded and incorporated the company in 2014. The existing company came from the merging of CODA Automotive and Mullen Motor Cars through acquisition. Michery is joined by Chief Financial Officer Jonathan New, Chief Commercial Officer John Schwegman and President of the Automotive Division Calin Popa.
What vehicles does Mullen Automotive currently offer? » …
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