Mullen Automotive (NASDAQ:MULN) stock is in the spotlight after the electric vehicle (EV) company announced that it would hold a webinar on Dec. 5. The webinar will focus on the company’s light-duty commercial vehicles, the ONE and THREE.
“Designed with drivers and efficiency in mind, these vehicles feature more cargo space, maximized payload, the ability to navigate narrow urban streets, and much more,” said Mullen. “Plus, learn about how advanced telematics and enhanced connectivity can help you make more informed decisions and optimize operations.”
At the event, Mullen will discuss how EVs can increase the efficiency and profitability of a commercial fleet. The company will also provide a “360° tour” of the ONE and THREE.
MULN Stock: Mullen to Hold Commercial Vehicle Webinar on Dec. 5
Director of Product Planning & Marketing Paul Loewer, Senior Vehicle Software Manager Prashant Agrawal and Director of Parts & Service Matthew Gostek will be the three speakers at the event.
The ONE carries a starting price tag of $34,500 and is equipped with a 42 kilowatt-hour (kWh) battery that can provide a range of 110 miles. The vehicle is also eligible for a $7,500 federal tax credit.
Meanwhile, the THREE starts at $68,500 and is eligible for the $7,500 vehicle credit as well. Its 89 kWh battery provides 125 miles of range.
Earlier this month, Mullen announced that its retail dealership partner, Randy Marion Automotive Group (RMA), had received its North Carolina dealer license to retail Mullen’s commercial EVs. This license, along with Mullen’s original equipment manufacturer (OEM) license, allows for the delivery of vehicles to customers.
On Nov. 20, Mullen began the process of delivering the THREE to three commercial customers. The next 40 THREEs will be shipped out from the company’s assembly plant in Tunica, Mississippi. Deliveries of the ONE will begin next month.
Mullen expects to deliver 150 THREEs this year, of which 10 have already been confirmed to have been delivered. The company also expects to deliver 300 ONEs this year and 6,000 ONEs next year.
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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.
