Mullen Automotive capitalizes on first-mover advantage in EV vans, trucks

Mullen Automotive announces the Company continues to capitalize on its first-mover advantage in the U.S. market with production and deliveries of its Class 1 and Class 3 commercial EVs. “While many of the OEMs and new EV companies have launched their EVs with significant losses, Mullen is out-of-the-gate with a positive gross profit margin per vehicle. EV growth has slowed in the retail segment but continues to increase across the commercial and fleet segments, where we now have a strong vehicle lineup in the market,” said David Michery, CEO and chairman of Mullen Automotive. Mullen began Class 3 vehicle production in August 2023 and first vehicle deliveries in September 2023. Mullen Class 1 production began in November 2023 with first vehicle deliveries in December 2023.