NetworkNewsBreaks – Mullen Automotive Inc. (NASD
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Posted On: 02/19/2025 4:45:01 PM
NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Reports Record Quarterly Revenue, Expands EV Sales and Battery Production
Mullen Automotive (NASDAQ: MULN) reported its strongest quarter to date, invoicing over $4.4 million and receiving $6 million for vehicle deliveries in Q1 FY2025. The company highlighted growth in its commercial EV segment, with new sales across multiple industries, including home services, floral, and coffee distribution. Bollinger Motors delivered 20 Class 4 B4 trucks, generating $2.8 million in revenue, while expanding its sales and service network to over 50 locations. Mullen also advanced its U.S. battery production capabilities with three new battery lines and a $55 million DOE funding request. Despite these developments, the company reported a net loss of $114.9 million, with 79% attributed to non-cash expenses.
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) reported its strongest quarter to date, invoicing over $4.4 million and receiving $6 million for vehicle deliveries in Q1 FY2025. The company highlighted growth in its commercial EV segment, with new sales across multiple industries, including home services, floral, and coffee distribution. Bollinger Motors delivered 20 Class 4 B4 trucks, generating $2.8 million in revenue, while expanding its sales and service network to over 50 locations. Mullen also advanced its U.S. battery production capabilities with three new battery lines and a $55 million DOE funding request. Despite these developments, the company reported a net loss of $114.9 million, with 79% attributed to non-cash expenses.
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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