Mullen Automotive, Inc. - Common Stock (MULN)

Analysis published by Wards Intelligence has revealed that hybrid vehicle sales in the U.S. have continued to rise while battery electric vehicle (BEV) and plug-in hybrid vehicle (PHEV) sales stagnated and stayed flat. BEVs, hybrids, and PHEVs accounted for roughly 22% of the light-duty cars sold in the U.S. in Q1 2025, up from 18% during the same quarter in 2024, indicating a slight increase in demand for alternative energy vehicles in the U.S.

Mullen Automotive (NASDAQ: MULN) announced the relaunch of its ultra-high-performance Mullen FIVE RS EV Crossover, with vehicle sales targeted to begin in Germany by December 2025. Following successful 800V battery testing at TUV SUD in Munich, the vehicle is entering on-road validation as part of its final homologation process. Mullen has partnered with Germany-based Faissner Petermeier Fahrzeugtechnik AG (FPF), a veteran automotive engineering and manufacturing firm, to ensure production meets the highest global standards. The FIVE RS boasts a top speed of 200 mph, 0–60 acceleration under two seconds, and over 1,100 horsepower. Mullen plans to expand sales across the EU, UAE, and South Africa in 2026, with a U.S. launch to follow based on international performance.

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

Mullen Automotive (NASDAQ: MULN) has acquired an additional 21% stake in Bollinger Motors, bringing its total ownership to 95% and increasing shareholder equity by approximately $3.5 million. The move follows Mullen’s resolution of outstanding claims and debt that had placed Bollinger under court-ordered receivership, a case now dismissed with prejudice. Bollinger will continue operating independently under Mullen’s ownership, with its commercial EV lineup—led by the all-electric B4 Chassis Cab—receiving full support for sales, service, and warranty. Mullen plans to leverage synergies to accelerate the B4’s development and drive growth within the commercial EV space.

Transaction increases shareholder equity by approximately $3.5M

Despite President Donald Trump’s loud opposition to renewable energy and any form of climate action, Republicans in Texas have embraced wind energy . The GOP president criticized America’s large investments in green energy during the Biden administration and has undone most of the former president’s climate-related policies since taking office.

The Trump administration has fulfilled one of the promises President Donald Trump made during his second presidential campaign: eliminating the federal tax credit for electric vehicle purchases . In a move that will undoubtedly have major repercussions for America’s nascent electric vehicle industry, the U.S. House has voted to eliminate federal EV tax credits. These credits of up to $7,500 were critical to boosting electric vehicle adoption in the country, and their loss will significantly affect battery electric vehicle (BEV) sales in the U.S.

Mullen Automotive (NASDAQ: MULN) announced it will enact a 1-for-100 reverse stock split effective June 2, 2025, aiming to regain compliance with Nasdaq’s $1.00 minimum bid price requirement. Approved by shareholders on May 21 and finalized by the board, the reverse split will reduce Mullen’s outstanding common shares from approximately 80 million to about 800,000, with trading to begin on a split-adjusted basis under the same ticker symbol. No fractional shares will be issued, and all existing equity instruments and convertible securities will be proportionally adjusted, excluding the 2022 Equity Incentive Plan, which remains unchanged.

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 begin trading on a split-adjusted basis when the market opens on June 2, 2025. The new CUSIP number for the Common Stock following the Reverse Stock Split will be 62526P802.

Facebook, Instagram, and WhatsApp parent company Meta has invested in 650 megawatts (MW) of solar energy to power its data centers and artificial intelligence (AI) operations with clean electricity. The recently signed agreement moves the tech giant closer to its renewable energy goals by tapping into solar power.

Freight trains could be used to circumvent grid connection bottlenecks by hauling batteries filled with renewable energy across the country. Despite a massive increase in America’s green energy capacity, a significant portion of the country’s renewable energy still isn’t connected to the grid due to transmission and interconnection bottlenecks. Instead of waiting several years to connect to the grid, green energy projects could deliver their energy to end users via freight train.

Tesla’s brand image has taken a significant hit in recent months. For at least a decade, Tesla was the darling of the burgeoning global electric vehicle segment. After launching the Tesla Roadster in 2008 and demonstrating the viability of mass market battery electric vehicles (BEVs), Tesla remained the most dominant player in the EV sector for most of its existence.

Mullen Automotive (NASDAQ: MULN) reported $5 million in revenue for the quarter ended March 31, 2025, a significant increase from $33,000 in the prior-year period, driven by deliveries of Class 1 and Class 3 electric vehicles to customers including logistics firms, local governments and universities. The company also highlighted new agreements, such as a supply deal with Enpower Greentech for advanced solid-state batteries and expanded public sector eligibility via Sourcewell contracts. Bollinger Motors, a majority-owned subsidiary, delivered Class 4 trucks but was placed into court-appointed receivership in May, a move Mullen says will not materially impact its liquidity. For the six-month period, Mullen recorded $7.9 million in revenue and a net loss of $162 million, with $118 million tied to non-cash expenses. Cash on hand declined to $2.3 million, and the company is continuing cost-reduction efforts and financing through convertible securities.

Company fiscal Q2 outperforms all previous quarterly revenue results

The entire Iberian Peninsula recently experienced a massive blackout that left most of mainland Spain, Portugal, and parts of southern France without electrical power for around 10 hours. Some opposition parties in Spain, as well as a few external observers, have pointed to net-zero emission goals and renewable energy targets as potential contributors to the outage .

When most people think about electric cars, China isn’t the first name that comes to mind, but maybe it should be. Toyota has just sounded the alarm, and it’s not just about electric vehicles anymore. According to the company, China’s rise in the auto world is happening fast and across more than one area.

Mullen Automotive (NASDAQ: MULN), an electric vehicle manufacturer, announced it has executed a settlement agreement with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS, resolving a four-year legal dispute. Under the agreement, GEM has a 55-day due diligence period—subject to extension—to evaluate the transfer of Mullen’s Mishawaka assets in full satisfaction of the judgment. All collection activities will be suspended during this period. Mullen stated it remains focused on expanding its Tunica, Mississippi, manufacturing operations to meet growing demand across its EV product lines.

The largest contract electronics manufacturer in the world has teamed up with Mitsubishi to develop and manufacture electric cars for the Japanese automaker. Foxconn, also referred to as Hon Hai Technology Group, has been seeking opportunities to enter the burgeoning electric vehicle sector for quite some time. The world-leading electronics manufacturer now appears to have completed its years-long quest to enter electric vehicle development.

A survey commissioned by the Secure Energy Project and conducted by research agency Opinium has revealed that most Europeans would rather their countries invest in local clean energy rather than continue importing fossil fuels from the U.S. and Russia. The poll found that Europeans overwhelmingly prefer relying on domestically produced renewable energy, a more reliable and sustainable option, over fossil fuels sourced from abroad.

A recent report from Bloomberg has made a strong case for allowing Chinese vehicles into the American market. China has made significant strides in the auto sector over the past couple of decades, growing from a country that was almost fully reliant on imported vehicles to one that now dominates the globe in vehicle sales.

The just-concluded Shanghai Auto Show 2025 showcased China’s incredible advancements i n battery electric vehicle technology. While most governments in the West have been relatively slow to adopt EVs, Beijing began pumping tens of billions of dollars in subsidies into the domestic electric vehicle sector well over a decade ago, giving its industry a major head start over carmakers in other markets.

Mullen Automotive (NASDAQ: MULN) announced that its subsidiary, Bollinger Motors, has delivered a Bollinger B4 all-electric Class 4 commercial vehicle to the Lower East Side Ecology Center in New York City. Funded by the NYC Council, the truck will support composting and environmental programs as the LES Ecology Center’s first EV. The B4, equipped with a 158-kWh battery, 185-mile range, and a 16-foot dry box with power lift gate, is designed for urban operations and sustainability-focused fleets.

The United States of America has expressed interest in developing hydropower projects in Romania and Bulgaria. U.S. Secretary of Energy Chris Wright recently met with Bulgaria’s Minister of Energy Zhecho Stankov and Romania’s Minister of Energy Sebastian Burduja to discuss bilateral collaborations on renewable energy projects in both countries.

All-electric B4 will be used as both a work truck and delivery truck, supporting various LES Ecology Center environmental initiatives including the longest running compost program in New York City