Mullen to deliver electric cargo vans and trucks to the United Arab Emirates

US company Mullen Automotive has signed a purchase agreement worth about $210 million with Volt Mobility from the United Arab Emirates (UAE). The latter agreed to buy 3,000 Class 1 and Class 3 vehicles by the end of 2025.

As Mullen points out, the first vehicles will be shipped “immediately.” However, the company does not say how many units or what models that first shipment will include. What is clear is that Mullen will ship its Mullen ONE Class 1 EV cargo van and the Mullen THREE Class 3 EV cab chassis truck to the UAE. According to the Form 8-K filed with the US Securities and Exchange Commission (SEC), the manufacturer will also ship Bollinger Class 4 vehicles to Volt Mobility once the EVs have been certified and launched in the US.

The SEC form also states that Mullen will deliver 300 units this year and the remaining 2,700 units in 2025. Volt Mobility will make an initial deposit of three million dollars to Mullen within 60 days and additional payments as the vehicles are delivered.

Volt is an EV leasing company. It intends to lease the Mullen EVs to “corporate customers based in the Middle East and Gulf States.” According to the press release, the company currently works with CEP providers UPS, DHL, and FedEx throughout the Gulf Cooperation Council (“GCC”) region.

“At Volt, we don’t just follow trends; we set them. Our mission is clear: lead the transformation to sustainable, efficient and cutting-edge transportation,” said Sophia Nau, managing director and CFO for Volt Mobility. “Volt is reshaping the way people and businesses move across the UAE and GCC,” added David Michery, CEO and chairman of Mullen Automotive. “This landmark agreement provides Mullen with exposure to leading global transportation companies and the opportunity for utilizing Mullen EVs across the UAE and other areas of the Middle East.”

mullenusa.com, streetinsider.com (SEC filing)