Shares of Mullen Automotive (NASDAQ:MULN) stock are in focus following the likely addition of Paul Loewer as the director of product marketing and planning. At the time of writing, Mullen has not yet confirmed the new hire, although Loewer himself posted on LinkedIn that he received the job:
“I am thrilled to announce that I have accepted a new position as the Director of Product Marketing and Planning at Mullen Automotive. This is an exciting opportunity, and I’m looking forward to putting my skills to use in this role.”
Before joining Mullen, Loewer spent over 30 years working at General Motors (NYSE:GM) under several different roles, most recently as the product manager for Chevrolet’s Silverado and low cab forward (LCF) medium duty trucks. Between 2009 and 2015, he worked as a commercial product and sales support manager and oversaw crossover vehicles. Before that, he received his Bachelor’s of Science in industrial technology, automotive, and energy and power. He also received an MBA from the University of Phoenix.
MULN Stock: Mullen Adds Another GM Veteran to Its Team
If confirmed by Mullen, Loewer will be the second GM veteran to join the company in recent weeks. Last month, John Schwegman was brought on as chief commercial officer. He previously spent over 35 years at GM. Schwegman will oversee growth opportunities for the Mullen’s Class 1 through Class 6 trucks. At GM, Schwegman was heavily involved with Chevrolet’s electric vehicle (EV) efforts and “led global teams across four continents.”
The addition of Loewer would provide Mullen with decades of experience from a reputable automaker. Furthermore, Loewer’s experience with crossovers could aid in the production and marketing of the upcoming FIVE crossover. His experience with trucks could benefit Mullen’s portfolio as well. Production of the FIVE is expected to start in Q4 of 2023, with deliveries beginning during Q2 of 2024.
The FIVE and its personal vehicle assistant (PVA) system, called PERSONA, are currently being showcased through Mullen’s “Strikingly Different” tour. Yesterday wrapped up the second stop of the tour in Anaheim, California. The next stop will take place in Las Vegas, Nevada, between Nov. 10 and Nov. 11.
Following and leading up to the start of the tour, preorders for the FIVE “quadrupled in volume,” although the exact figure was not disclosed.
On the date of publication, Eddie Pan 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.