Investors in Mullen Automotive (NASDAQ:MULN) stock will want to keep an eye on the company in October, when the company plans to launch its demonstrator FIVE EV Crossover vehicles.
Mullen Automotive notes that the electric vehicles (EVs) will be fully functional. The company intends to use them for its “Strikingly Different” Test Drive Tour this year, as well as for more demonstrations throughout 2023.
According to Mullen , the FIVE EV Crossover will feature a 120-kilowatt hour (kWh) battery pack and 325 miles of range. It will also be able to g0 from 0 to 60 miles per hour (mph) in 3.2 seconds with a top speed of 155 mph. Mullen will also produce a High Performance version of the EV that will go from 0 to 60 mph in 1.95 seconds and offer a top speed of 200 mph.
Mullen Chairman and CEO David Michery said the following in a news release:
“We are thrilled to launch the first fully functional, demonstrator FIVE EV Crossover vehicles this October [..] Mullen and hofer have been working diligently to have these vehicles ready in time for Mullen’s ‘Strikingly Different’ U.S. tour. Congratulations to both the hofer and Mullen teams on being able to make this monumental effort a reality.”
While MULN stock isn’t seeing much activity on today’s news, it could when the launch happens. That’s why investors in the company will want to keep an ear open for when the actual launch takes place.
MULN stock is up 2% as of Monday morning.
We’ve got more recent stock market news traders will want to know about below!
InvestorPlace is home to all of the latest stock market news for Monday! That includes what has shares of Cineworld (OTCMKTS:CNWGY) stock and Social Capital Suvretta Holdings (NASDAQ:DNAA) stock moving, as well as this morning’s biggest pre-market stock movers. You can catch up on all of that at the following links!
More Monday Stock Market News
- CNWGY Stock Alert: What to Know as Cineworld Faces Possible Bankruptcy
- DNAA Stock Races 200% Higher as Akili SPAC Merger Closes
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
