NetworkNewsBreaks – Mullen Automotive Inc. (NASD
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Posted On: 05/13/2022 4:35:27 PM
NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Announces Q2 Preliminary Financial Results
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced preliminary financial results (subject to change) for its period ending March 31, 2022. Among the highlights, the company reported cash and cash equivalents amounting to $65.2 million, as well as total debt of $22.1 million continuing its downward trend. In May 2022, Mullen signed a proposal with Thurner Design for the vehicle development of the Mullen FIVE RS, a high-performance EV sport crossover vehicle featuring close to 1,100 HP, 0-60 mph in just 1.95 seconds, and 200 mph top speed. Further, Mullen FIVE reservations increased substantially and more than doubled the volume attained in the last quarter of 2021, which included the world debut of the Mullen FIVE at the Los Angeles International Auto Show in November 2021. Reservation progress continues to build, showing strong consumer interest.
“We have made significant progress during the second quarter and have demonstrated significant finance progress for moving forward,” said David Michery, CEO and chairman of Mullen Automotive. “Our balance sheet continues to improve, and our EV programs are all moving forward, including the start of the Mullen FIVE RS program.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced preliminary financial results (subject to change) for its period ending March 31, 2022. Among the highlights, the company reported cash and cash equivalents amounting to $65.2 million, as well as total debt of $22.1 million continuing its downward trend. In May 2022, Mullen signed a proposal with Thurner Design for the vehicle development of the Mullen FIVE RS, a high-performance EV sport crossover vehicle featuring close to 1,100 HP, 0-60 mph in just 1.95 seconds, and 200 mph top speed. Further, Mullen FIVE reservations increased substantially and more than doubled the volume attained in the last quarter of 2021, which included the world debut of the Mullen FIVE at the Los Angeles International Auto Show in November 2021. Reservation progress continues to build, showing strong consumer interest.
“We have made significant progress during the second quarter and have demonstrated significant finance progress for moving forward,” said David Michery, CEO and chairman of Mullen Automotive. “Our balance sheet continues to improve, and our EV programs are all moving forward, including the start of the Mullen FIVE RS program.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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