USA: Mullen writes 6,000 van order from RMA
Mullen Automotive has received a significant order from one of the largest commercial vehicle dealer groups in the USA. Randy Marion Automotive Group (RMA) signed a firm order agreement for over 6,000 Mullen electric vans, and the contract is valued at $200 million.
The order of 6,000 Mullen EV vans of Class 1 followed Mullen recently announcing RMA as its first commercial dealer partner to offer sales, service and parts for the company’s commercial vehicle lineup.
“We see a tremendous opportunity with the Mullen commercial portfolio, and the launch of the commercial van could not come at a better time,” said Randy Marion, CEO and founder of RMA.
Mullen’s commercial EV lineup includes a Class 1-3 cargo van and cab chassis. The startup has also included Class 4-6 chassis made by Bollinger Motors since it acquired the latter in a surprise move in September.
“There’s significant pent-up customer demand for Mullen to fulfil,” added Marion. “I have many customers looking at me to find products for their companies.”
This might be so; however, it remains to be seen when and if Mullen can deliver. In recent months, reports of Mullen facing problems kept appearing. The company still hasn’t launched a vehicle since its SPAC IPO in 2021, and short-seller Hindenburg Research also raised allegations, so the share price has been volatile at best. Nasdaq, in September, had warned that the company could be delisted because the share price had been less than a dollar for 30 days in a row. Shortly after the warning, Mullen then announced the acquisition of Bollinger and, in December, closed on the announced acquisition of all of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana.
As for Mullen’s manufacturing facilities – two are planned – today’s statement still said they would be building vehicles. When remains an open question.
Earlier this year, in February, Mullen had charged Stellantis subsidiary Comau with helping them equip the AMEC (Advanced Manufacturing and Engineering Center) in Tunica. Comau said it was assisting Mullen with the production machinery and the process design and equipment for the AMEC.
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