Core Viewpoint - Mullen Automotive has secured a significant order from Cashflow on Wheels for 20 all-electric Mullen THREE vehicles, valued at approximately $1.4 million, aimed at enhancing last-mile delivery efficiency for FedEx and Amazon [2][4]. Group 1: Company Overview - Mullen Automotive is an electric vehicle manufacturer based in Southern California, with production facilities in Tunica, Mississippi, and Mishawaka, Indiana [6]. - The company has recently expanded its commercial dealer network to seven dealers across key U.S. markets, enhancing its sales and service capabilities [6]. - Mullen's vehicles, including the Mullen ONE and Mullen THREE, are certified by the California Air Resource Board and EPA, making them available for sale in the U.S. [6]. Group 2: Cashflow on Wheels - Cashflow on Wheels, founded in 2023, is a logistics company focused on last-mile delivery and transportation solutions, primarily for FedEx and Amazon [5]. - The company emphasizes sustainability and efficiency in its operations, aiming to transition traditional fleets to electric vehicles [3][5]. - Cashflow on Wheels has reported savings of over $500 per route per week by testing electric vehicles, which supports its growth strategy [4]. Group 3: Market Trends - The order from Cashflow on Wheels reflects a growing demand for environmentally friendly commercial vehicles, indicating a shift in the logistics industry towards sustainable practices [4]. - The transition to electric vehicles is seen as a way to reduce operational costs and support future expansion for logistics companies [4].

Core Points - Mullen Automotive's subsidiary, Bollinger Motors, has delivered the first Bollinger B4 truck to EnviroCharge for conversion into a mobile charging unit, highlighting a partnership aimed at expanding EV charging infrastructure [1][2] - The Bollinger B4 truck will be showcased at the Advanced Clean Trucking (ACT) Expo 2025, with plans for additional trucks to be deployed in California to meet the growing demand for EV infrastructure [3] - Bollinger Motors has qualified for multiple federal and state incentive programs, enhancing the financial viability of its electric vehicle offerings [5][13] Company Overview - Bollinger Motors, founded in 2015 and headquartered in Oak Park, Michigan, specializes in all-electric commercial vehicles, particularly the Class 4 B4 truck [5][8] - Mullen Automotive, which became the majority owner of Bollinger Motors in September 2022, operates two vehicle plants in the U.S. and has expanded its commercial dealer network to seven dealers across key markets [7][8] Product Details - The Bollinger B4 is designed as an all-electric Class 4 commercial truck, featuring a unique chassis design that protects its 158-kWh battery pack, ensuring safety and capability in commercial applications [4] - EnviroCharge will upfit the B4 trucks with custom EV Level 3, 120 kilowatt-charging units, enhancing their utility as mobile charging solutions [2][4]

Group 1 - A class action has been filed against Mullen Automotive, Inc. for allegedly misleading investors regarding its business prospects during the period from February 3, 2023, to March 13, 2024 [1][2] - The allegations include that Mullen had no intent to implement a reverse stock split while the CEO believed it was necessary, overstated partnerships and battery technology capabilities, and failed to disclose material information about financing agreements [2] - Shareholders are encouraged to participate in the class action, with a deadline to file as lead plaintiff by April 14, 2025 [3] Group 2 - Robbins LLP, a firm specializing in shareholder rights litigation, is representing the class action on a contingency fee basis, meaning shareholders pay no fees or expenses [4] - The firm has been dedicated to helping shareholders recover losses and improve corporate governance since 2002 [4]

Initial order includes Mullen ONE Class 1 EV cargo van for maintenance and material transport tasks with additional orders to follow Global Expert is a licensed freight forwarding company providing shipping solutions between the US and Armenia to worldwide destinations BREA, Calif., April 14, 2025 (GLOBE NEWSWIRE) -- via IBN – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, today announces a sale of the all-electric Mullen ONE Class 1 cargo van t ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Mullen Automotive, Inc. due to allegations of violations of federal securities laws, encouraging affected investors to come forward [3][5]. Group 1: Allegations Against Mullen Automotive - The complaint alleges that Mullen and its executives made false and misleading statements, including the lack of intent to implement a reverse stock split while believing it was necessary [5]. - Mullen is accused of overstating its business partnerships and battery technology capabilities, as well as failing to disclose material information about financing agreements [5]. - The company's stock price fell over $3.25 per share, or 96%, closing at approximately $0.015 per share on March 13, 2024, due to these misleading statements [6]. Group 2: Legal Proceedings and Investor Actions - Investors who suffered losses exceeding $75,000 between February 3, 2023, and March 13, 2024, are encouraged to contact Faruqi & Faruqi to discuss their legal rights [1]. - There is an April 14, 2025, deadline for investors to seek the role of lead plaintiff in the federal securities class action against Mullen [3][7]. - The lead plaintiff is defined as the investor with the largest financial interest who directs the litigation on behalf of the class [7].

Core Viewpoint - Mullen Automotive Inc. has signed a Partnership and Supply Agreement with Enpower Greentech Inc. to manufacture and deliver advanced semi solid-state batteries (SSB) for various commercial and industrial applications, marking a significant step in Mullen's strategy to enhance its domestic battery production capabilities [1][2][3]. Group 1: Partnership Details - The agreement focuses on the domestic manufacturing of SWIFT SSB modules and battery packs at Mullen's Battery Center in Fullerton, California, which is equipped with three production lines for lithium-iron-phosphate (LFP) battery modules [2]. - Mullen aims to ramp up its engineering staff to achieve full production and implement this technology by early 2026 [2][5]. - The partnership is expected to reduce supply chain vulnerabilities and mitigate increased costs due to tariffs, aligning with Mullen's vision of providing domestically produced battery solutions [3][4]. Group 2: Battery Technology and Manufacturing - EGI's SWIFT Series SSB Cells utilize advanced silicon-anode-based technology, offering twice the energy density, ultra-fast charging capabilities, and extended cycle life compared to traditional batteries [4]. - EGI plans to start domestic manufacturing of these batteries in late Q3 2025 at its facility in Ann Arbor, Michigan, with plans to expand manufacturing capacity throughout 2026 [4]. - The SWIFT cells have been tested and validated by leading U.S. automotive OEMs and drone manufacturers, indicating strong market acceptance [4]. Group 3: Company Background - Mullen Automotive is focused on building the next generation of commercial electric vehicles (EVs) and operates two vehicle plants in the U.S., with production of commercial vehicles having commenced in August 2023 [8]. - The company has developed a commercial dealer network consisting of seven dealers across key U.S. markets, enhancing its sales and service coverage [8]. - Mullen's acquisition of Bollinger Motors has further strengthened its position in the EV market, with Bollinger's Class 4 electric truck production launched in September 2024 [9].

Core Insights - Mullen Automotive Inc. has signed a Partnership and Supply Agreement with Enpower Greentech Inc. to manufacture and deliver SWIFT series semi solid-state batteries (SSB) for various industrial applications [1][2][4] - The partnership aims to enhance domestic battery production, reduce supply chain vulnerabilities, and address increased costs due to tariffs [3][4] - Mullen's Fullerton Battery Center will manufacture the SWIFT SSB modules and battery packs, with production expected to ramp up in early 2026 [2][5] Company Overview - Mullen Automotive is focused on building the next generation of commercial electric vehicles (EVs) and has two manufacturing plants located in Tunica, Mississippi, and Mishawaka, Indiana [8] - The company began commercial vehicle production in August 2023, with its Mullen ONE and Mullen THREE models certified for sale in the U.S. as of January 2024 [8] - Mullen has been collaborating with EGI for the past 18 months to advance semi-solid-state battery technology [5] Technology and Production - EGI's SWIFT Series SSB Cells utilize advanced silicon-anode-based technology, offering twice the energy density and ultra-fast charging capabilities [4][7] - EGI plans to start domestic manufacturing of these batteries in late Q3 2025 at its facility in Ann Arbor, Michigan, with expansion throughout 2026 [4][5] - Mullen's Fullerton facility is equipped with three battery production lines, including those for lithium-iron-phosphate (LFP) battery modules [2][6]

Core Viewpoint - Mullen Automotive Inc. will implement a 1-for-100 reverse stock split to comply with Nasdaq's minimum bid price requirement of $1.00, effective April 11, 2025 [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split will convert 100 shares of common stock into one share, reducing the total from approximately 220 million shares to about 2.2 million shares [5] - The reverse stock split will not change the par value of the common stock or the authorized number of shares [4] - No fractional shares will be issued; all fractional shares will be rounded up to the nearest whole share [5] Group 2: Company Background - Mullen Automotive is based in Southern California and focuses on manufacturing the next generation of commercial electric vehicles (EVs) [7] - The company has two vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana, and began commercial vehicle production in August 2023 [7] - Mullen's EV models, including the Mullen ONE and Mullen THREE, are certified by the California Air Resource Board and EPA, and are available for sale in the U.S. [7]

Core Viewpoint - Robbins LLP has initiated a class action lawsuit on behalf of investors who acquired Mullen Automotive, Inc. (NASDAQ: MULN) securities between February 3, 2023, and March 13, 2024, alleging that the company misled investors regarding its business prospects and financial health [1][2]. Allegations - The lawsuit claims that Mullen Automotive made misleading statements and failed to disclose critical information, including: - The company's lack of intent to implement a reverse stock split, despite the CEO believing it was necessary [2]. - Overstatements regarding partnerships with business entities such as RRDS and MAEO [2]. - Exaggerations about its battery technology capabilities and related partnerships [2]. - Misleading information about reverse stock splits [2]. - Knowledge of Lawrence Hardge's previous financial crimes, which was not disclosed to investors [2]. - Failure to disclose material information regarding financing agreements [2]. Next Steps for Shareholders - Shareholders interested in serving as lead plaintiffs must file their papers with the court by April 14, 2025 [3]. - Participation in the case is not required to be eligible for recovery, and shareholders can choose to remain absent class members [3]. Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [4].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Mullen To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $75,000 in Mullen between February 3, 2023 and March 13, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, April 3, 2025 /PRNewswire/ - ...