On Jan. 9, Mullen Automotive (NASDAQ:MULN) will debut the production design of its FIVE RS electric vehicle (EV) at the Consumer Electronics Show (CES) 2024 in Las Vegas, Nevada. According to Mullen, the FIVE RS is a “high-performance variant of our flagship EV crossover.” Mullen will also display its ONE and THREE EVs and its subsidiary Bollinger’s B1, B2, and B4 models.
Mullen notes that the FIVE RS has a top speed of over 200 mph and a 0-to-60 mph acceleration time of less than two seconds.
This isn’t Mullen’s first appearance at a CES event. The company presented the FIVE at CES 2022 after the vehicle made its debut at the L.A. Auto Show.
Dear MULN Stock Fans, Mark Your Calendars for Jan. 9
Following the L.A. Auto Show in November of 2021, CEO David Michery raised the reservation limit for the FIVE to 25,000 from 5,000, citing strong demand. However, the company has not delivered a single FIVE to a customer since then. Additionally, the expected delivery date on the FIVE reservation page has been pushed back as well. The page currently states that the FIVE base and touring models will begin production following FIVE RS production in late 2025 and customer sales in mid-2026. The FIVE will carry an initial base price of $55,000.
In early 2022, Mullen stated that production of the FIVE would begin during the fourth quarter of 2023, with an estimated delivery date during the second quarter of 2024. As of March 2023, those dates remained the same but were pushed back sometime later during the year.
A production design is nice, but customers and investors ultimately seek a real product. With several delays on the FIVE, the production and delivery dates of the FIVE RS should be taken with a grain of salt.
Overall, CES 2024 shouldn’t have a significant effect on MULN stock. What investors really want is the timely start of production of the FIVE RS or FIVE instead of the company showcasing a production design.
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, 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.
