FAQ: Mullen Automotive Inc.'s Q2 Revenue, EV Deliveries, and Battery Progress
Summary
Mullen Automotive Inc. reported a significant revenue increase to $5 million in Q2 2025, driven by EV deliveries and highlighted progress in battery technology and public sector eligibility, despite a net loss and ongoing cost-reduction efforts.
What was Mullen Automotive’s revenue for the quarter ended March 31, 2025?
Mullen Automotive reported $5 million in revenue for the quarter ended March 31, 2025, a significant increase from $33,000 in the prior-year period.
What contributed to Mullen Automotive’s revenue increase?
The revenue increase was driven by deliveries of Class 1 and Class 3 electric vehicles to customers including logistics firms, local governments, and universities.
What new agreements did Mullen Automotive highlight?
Mullen highlighted a supply deal with Enpower Greentech for advanced solid-state batteries and expanded public sector eligibility via Sourcewell contracts.
What is the status of Bollinger Motors, a majority-owned subsidiary of Mullen Automotive?
Bollinger Motors delivered Class 4 trucks but was placed into court-appointed receivership in May, a move Mullen says will not materially impact its liquidity.
What were Mullen Automotive’s financial results for the six-month period?
For the six-month period, Mullen recorded $7.9 million in revenue and a net loss of $162 million, with $118 million tied to non-cash expenses.
How much cash does Mullen Automotive have on hand?
Cash on hand declined to $2.3 million, and the company is continuing cost-reduction efforts and financing through convertible securities.
Where are Mullen Automotive’s vehicle plants located?
Mullen Automotive has two United States-based vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana.
What are the benefits of the CARB-issued HVIP approval on the Mullen THREE, Class 3 EV truck?
The CARB-issued HVIP approval provides up to a $45,000 cash voucher at the time of vehicle purchase.
How can I find more information about Mullen Automotive?
For more information about the company, visit www.MullenUSA.com.
Where can I find the latest news and updates relating to MULN?
The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN.
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