NetworkNewsBreaks – Mullen Automotive Inc. (NASD
Post# of 967
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced plans to establish Mullen Credit Corporation (“MCC”) as its wholly owned subsidiary. According to the announcement, MCC will offer vehicle floor planning, enabling the company’s growing dealership network to finance inventory upfront and repay the loan plus interest once the vehicle is sold. MCC will also provide fleet and small business customers with attractive financing options.
“Our business is experiencing rapid growth, with projected sales for 2025 expected to increase significantly. Consequently, our financing needs have also evolved,” said David Michery, Chairman and CEO. “Mullen Credit Corporation will provide financing flexibility for our dealers and customers as we pursue accelerated growth and expand our market share.”
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