Mullen Automotive Secures $3.2 Million EV Order from Papé Trucks, Expanding Commercial Market Reach

Mullen Automotive (NASDAQ: MULN) has announced a significant $3.2 million vehicle order from Papé Trucks, its seventh franchise dealer partner, signaling a robust expansion in the commercial electric vehicle (EV) market. This order includes 43 Class 3 EV trucks and 7 Class 1 EV cargo vans, alongside parts supply for warranty and repair services, with deliveries set to begin immediately. This partnership leverages Papé Trucks' extensive network across the Western U.S., promising to broaden Mullen's market penetration and accelerate commercial EV adoption.

The collaboration with Papé Trucks is pivotal, given the dealer's esteemed reputation and widespread presence, which Mullen's CEO, David Michery, believes will be instrumental in cultivating new customer relationships. This deal coincides with Mullen's recent milestones, including the commencement of commercial vehicle production in Mississippi and IRS approval for federal EV tax credits, enhancing the affordability of its vehicles for customers.

Further bolstering Mullen's market position, its Mullen ONE and Mullen THREE vehicles have achieved CARB and EPA certifications, with the Mullen THREE also qualifying for a $45,000 HVIP cash voucher in California. The company's strategic expansion includes a growing dealer network and FTZ status for its Mississippi plant, offering competitive advantages in the global market.

This order not only underscores Mullen Automotive's growing influence in the EV sector but also reflects the broader industry shift towards electrification. With these developments, Mullen is poised to meet the escalating demand for commercial EVs, positioning itself as a formidable player in the future of electric transportation.