NetworkNewsBreaks – Mullen Automotive Inc. (NASD
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Posted On: 08/06/2024 4:22:01 PM
NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Shares Update from CEO
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today provided an update from CEO and chairman David Michery. According to the update, the company believes it has a strong foundation for future growth in EV sales based on the value of its total assets and cash position. Mullen highlighted the $250 million in new financing commitments it has secured to accelerate its growth plan, the expansion of its sales and distribution reach, the receipt of new orders, the delivery of vehicles, and negotiations to expand its customer base and market share. In addition, Mullen noted that it is developing technologies, such as solid-state polymer packs, to drive future growth.
“Despite challenging economic headwinds where many enterprises are capital-constrained, our balance sheet remains strong, and we have achieved meaningful accomplishments since our last update to shareholders in June 2024,” the update reads. “These achievements are a testament to the hard work and dedication of our team, and we are excited about the opportunities ahead. We remain focused on delivering value to our shareholders through innovation, operational excellence and strategic partnerships.”
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://nnw.fm/MULN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today provided an update from CEO and chairman David Michery. According to the update, the company believes it has a strong foundation for future growth in EV sales based on the value of its total assets and cash position. Mullen highlighted the $250 million in new financing commitments it has secured to accelerate its growth plan, the expansion of its sales and distribution reach, the receipt of new orders, the delivery of vehicles, and negotiations to expand its customer base and market share. In addition, Mullen noted that it is developing technologies, such as solid-state polymer packs, to drive future growth.
“Despite challenging economic headwinds where many enterprises are capital-constrained, our balance sheet remains strong, and we have achieved meaningful accomplishments since our last update to shareholders in June 2024,” the update reads. “These achievements are a testament to the hard work and dedication of our team, and we are excited about the opportunities ahead. We remain focused on delivering value to our shareholders through innovation, operational excellence and strategic partnerships.”
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://nnw.fm/MULN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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