Mullen Automotive Stock Is Popping: What's Happening?

Mullen Automotive Inc MULN shares are trading higher Tuesday after the company signed its first U.S. dealer partner.

What Happened: Mullen selected Randy Marion Automotive as the company's first dealer group partner for its commercial EV lineup, which is expected to launch in the U.S. next year.

Mullen's commercial EV lineup includes class 1-3 cargo van and cab chassis offerings and Bollinger Motors class 4-6 chassis products.

"We are impressed with Mullen Automotive's EV lineup, their speed to market and, most notably, their focus on an underserved commercial market for EV vehicles," said Randy Marion, CEO and founder of Randy Marion Automotive.

"This is especially obvious when you consider what has taken place in the Class 1 light cargo van category. OEMs have all exited from the commercial Class 1 van segment, leaving the door wide open for Mullen's EV lineup."

Mullen is a California-based automotive company focused on building the next generation of electric vehicles.

See Also: Oracle Stock Is Climbing Higher: What's Going On?

MULN Price Action: Mullen has a 52-week high of $6.10 and a 52-week low of 18 cents per share.

The stock was up 8.55% at 21 cents at time of publication, according to Benzinga Pro.

Photo: courtesy of Mullen Automotive.

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