Mullen has received a purchase order from Randy Marion Automotive Group for 6,000 electric cargo vans worth around $200 million.
Transaction valued at approximately $200 million - deliveries commencing First Quarter 2023
BREA, CA, Dec. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire
-- Mullen Automotive, Inc
. (NASDAQ: MULN
) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces a purchase order for 6,000 Class 1 EV cargo vans from Randy Marion Isuzu, LLC (“RMI”), a member of the Randy Marion Automotive Group (“RMA”). The firm order agreement is valued at approximately $200 million.
RMA is one of the largest and most respected commercial vehicle dealer groups in the U.S. Randy Marion Isuzu, LLC, a division of RMA, has committed to purchase 6,000 Class 1 EV cargo vans from Mullen Automotive. Mullen recently announced RMA as its first commercial dealer partner to offer sales, service and parts for Mullen Automotive’s commercial vehicle lineup.
“We see a tremendous opportunity with the Mullen commercial portfolio, and the launch of the commercial van could not come at a better time,” said Randy Marion, CEO and founder of RMA. “There’s significant pent-up customer demand for Mullen to fulfill. I have many customers looking at me to find product for their companies.”
“This is a real vote of confidence in our company. We appreciate Randy’s vision and aggressiveness to partner with us,” said John Schwegman, chief commercial officer for Mullen Automotive. “He clearly sees the future in commercial EVs.”
“The Randy Marion Automotive team is fully aligned with our Class 1 EV plan and is well positioned to help us capitalize on our first mover advantage in the commercial EV segments,” said David Michery, chairman and CEO of Mullen Automotive.
Mullen’s commercial EV lineup includes Class 1-3 cargo van and cab chassis offerings and Bollinger Motors Class 4-6 chassis products. Mullen’s entire commercial vehicle lineup will be manufactured out of the Advanced Manufacturing and Engineering Center (AMEC) located outside Tunica, Mississippi.