MULN Stock Moving on EV Partnership News

  • Mullen Automotive (MULN) stock is moving on a partnership with Team Rosberg Engineering (TRE).
  • This has TRE joining the Mullen FIVE EV Crossover Program.
  • This will have it working on the chassis of the electric vehicle (EV).
The Mullen (MULN Stock) Five vehicle is displayed at the 2021 LA Auto Show media day in Los Angeles, November, 18, 2021.

Source: Ringo Chiu / Shutterstock.com

Mullen Automotive (NASDAQ:MULN) stock is moving on Thursday as investors react to a partnership with Team Rosberg Engineering.

This agreement will see the two companies working together on vehicle chassis and safety development as part of the Mullen FIVE EV Crossover Program. TRE is highly specialized in chassis development and was founded in 1997 by Formula 1 world champion Keke Rosberg.

Mullen Automotive notes that this will have the company working on prototypes of the chassis for the Mullen FIVE EV Crossover. That makes sense as TRE handles prototype chassis development for several OEMs around the world.

David Michery, chairman and CEO of Mullen Automotive, said the following about the electric vehicle (EV) partnership news.

“The engineering work for the FIVE continues to progress in full swing. We’ve made rapid progress thanks to our incredible partners. These new partnerships are accelerating our path to start of production, which we previously slated for Q4 2024 and Q1 2025. Having companies such as ARRK and Team Rosberg involved in the FIVE program is a great privilege for Mullen.”

MULN stock is seeing a decent amount of trading on Thursday following the chassis news. This has some 41 million shares on the move as of this writing. However, that is below its daily average trading volume of around 66 million shares.

MULN stock is started off up Thursday morning but is currently down 2.6% as of this afternoon.

There’s more hot stock market news worth diving into below!

InvestorPlace has all of the latest stock market coverage traders need to know about for Thursday! Among that is what’s happening with shares of AMC Entertainment (NYSE:AMC), Tesla (NASDAQ:TSLA), and Chinese stocks today. You can get up to speed on all of that news at the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (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.


Article printed from InvestorPlace Media, https://investorplace.com/2022/08/muln-stock-moving-on-ev-partnership-news/.

©2022 InvestorPlace Media, LLC