Mullen Class 1 EV Cargo Van Now Available for ComEd EV Incentive. ComEd incentive includes up to $7,500 which can be combined with federal $7,500 incentive for a total of up to $15,000 off the Mullen ONE EV cargo van. The ComEd Business & Public Sector EV Rebate Program joins the growing list of state-level incentives already available for Mullen Commercial EVs, including California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project and Massachusetts Offers Rebates for Electric Vehicles ...

Mullen FIVE RS, Ultra-High-Performance EV Crossover Company Announces FIVE RS will launch in Germany in December 2025. The Mullen ultra-high-performance FIVE RS EV Crossover features a top speed of over 200 mph and acceleration from 0-60 mph in under 2 seconds The FIVE RS is equipped with 800-volt architecture, all-wheel drive, two-speed gearbox, and over 1,100 horsepower Initial vehicle market territories include the EU in 2025, followed by the UAE and South Africa in early 2026 Mullen is partnering wi ...

Transaction increases shareholder equity by approximately $3.5M As part of agreement, Mullen extinguishes significant debt, gains additional 21% ownership and regains full control of Bollinger Motors Bollinger to continue operating as a majority owned Mullen subsidiary; Mullen will continue to provide full financial backing on sales, service, and warranty of vehicles Bollinger to ramp up sales activity immediately while consolidating and streamlining operations BREA, Calif., June 02, 2025 (GLOBE NEWSWIRE) ...

BREA, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle manufacturer, today announces that it will effect a 1-for-100 reverse stock split (“Reverse Stock Split”) of its common stock, par value $0.001 per share (“Common Stock”), that will become effective on June 2, 2025, at 12:01 a.m. Eastern Time. The Common Stock will continue to trade on The Nasdaq Capital Market (“Nasdaq”) under the existing MULN symbol and will beg ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ___ Commission file number: 001-34887 MULLEN AUTOMOTIVE INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...

Financial Performance - Mullen achieved a revenue of $5 million for the quarter ending March 31, 2025, outperforming Q2 2024 revenue of $33,000 by more than 143 times[2] - The company's net loss decreased from $132.4 million in fiscal Q2 2024 to approximately $47.1 million in the comparable quarter ending March 31, 2025[1] - The net loss attributable to common shareholders for the six months ended March 31, 2025, was $162.0 million, compared to $193.9 million for the same period in 2024[6] - Mullen Automotive reported a net loss of $172.68 million for the six months ended March 31, 2025, compared to a net loss of $235.36 million for the same period in 2024, representing a 26.6% improvement[23] - The company reported a net loss before income tax benefit of $(53,880,314) for the three months ended March 31, 2025[21] Cash Flow and Expenses - Total cash spent on operating and investing activities decreased by $68.5 million, or 56.6%, from $120.9 million in the six months ended March 31, 2024, to $52.4 million in the same period of 2025[11] - The company had total cash of $2.3 million on March 31, 2025, down from $10.7 million on September 30, 2024[10] - Cash and cash equivalents decreased from $10,321,827 as of September 30, 2024, to $1,404,708 as of March 31, 2025[18] - Mullen's cash and restricted cash at the end of the period was $2.32 million, down from $29.81 million at the beginning of the period[23] - The company incurred $3.86 million in cash used for investing activities, primarily for equipment purchases[23] Revenue Sources - Mullen invoiced for 69 vehicles valued at $5.7 million during the six months ended March 31, 2025, and recorded $7.9 million in revenues[9] - Revenue from vehicle sales for the three months ended March 31, 2025, was $4,950,140, compared to $33,335 for the same period in 2024, representing a significant increase[21] Operating Expenses - Total operating expenses for the three months ended March 31, 2025, were $63,742,549, compared to $91,137,744 for the same period in 2024, indicating a reduction in expenses[21] - Research and development expenses for the three months ended March 31, 2025, were $10,364,113, compared to $24,023,526 for the same period in 2024, showing a decrease[21] - Non-cash expenses accounted for $118.5 million, or 73% of the loss for the six months ended March 31, 2025[7] Assets and Liabilities - Total current assets decreased from $63,174,638 as of September 30, 2024, to $52,900,124 as of March 31, 2025[18] - Total liabilities increased from $195,177,166 as of September 30, 2024, to $219,630,029 as of March 31, 2025[18] - The company had a total stockholders' equity (deficit) of $(69,540,529) as of March 31, 2025, compared to $(16,545,877) as of September 30, 2024[18] Partnerships and Production - Mullen signed a partnership and supply agreement with Enpower Greentech Inc. to build and deliver its SWIFT series SSB batteries, with production slated to begin in early 2026[5] - Mullen began commercial vehicle production in Tunica, Mississippi, in August 2023, and received IRS approval for federal EV tax credits of up to $7,500 per vehicle[24] - The Mullen ONE and Mullen THREE vehicles are now CARB and EPA certified and available for sale in the U.S.[24] - Mullen's commercial dealer network has expanded with new partnerships, enhancing sales and service coverage in key markets[24] - Bollinger Motors, a majority-owned subsidiary, launched production of its B4 Class 4 electric truck on September 16, 2024[25] Risks and Challenges - Mullen faces significant risks and uncertainties, including the ability to secure additional financing and manage acquisitions effectively[27] - Bollinger Motors, a majority-owned segment of Mullen, was placed into court-appointed receivership on May 7, 2025, following a legal complaint[13]

Company fiscal Q2 outperforms all previous quarterly revenue results Mullen achieves strong results with $5M revenue for quarter ending March 31, 2025 Company revenue is $7.9M for six months ended March 31, 2025 Company net loss decreased substantially from $132.4M in fiscal Q2 2024 to approximately $47.1M in comparable quarter ending March 31, 2025 Company cash spend reduced significantly from $120.9M to $52.4M for the six months ended March 31, 2025 BREA, Calif., May 20, 2025 (GLOBE NEWSWIRE) -- via IBN – ...

First 20 vehicles will be delivered in May to Cashflow on Wheels for FedEx routes in Texas and GeorgiaInitial deal valued at approximately $1.4 million Cashflow on Wheels is a leading logistics company with a focus on transitioning FedEx and Amazon last-mile local delivery to electric vehicles BREA, Calif., April 21, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today a Class 3 vehicle order with Cas ...

Initial EnviroCharge Bollinger B4 Truck to be upfitted as Mobile Charging Unit for reveal at ACT Expo on April 28, 2025 Mullen Automotive Subsidiary, Bollinger Motors, Delivers First Class 4 Electric Truck Order to EnviroCharge Bollinger B4 truck. BREA, Calif., April 17, 2025 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces its subsidiary, Bollinger Motors, has delivered the first 2025 Bollinger B4 truck ...

SAN DIEGO, April 14, 2025 /PRNewswire/ -- Robbins LLP reminds stockholders that a class action was filed on behalf of persons or entities who purchased or otherwise acquired Mullen Automotive, Inc. (NASDAQ: MULN) securities between February 3, 2023 and March 13, 2024. Mullen purports to be an electronic vehicle ("EV") manufacturer.For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.The Allegations: Robbins LLP is Investigating Allegations that Mullen Aut ...