Why Mullen Automotive Shares Are Racing Higher Today

Mullen Automotive Inc MULN shares are trading higher Thursday after the company announced its I-GO Commercial Urban Delivery EV has arrived Europe. 

What To Know: Mullen said its I-Go vehicle has made it to Europe and sample vehicles are on the way to Newgate Motor Group in Ireland. The vehicles were initially expected to arrive on Dec. 20 but were delayed by COVID-related shutdowns in China. The samples are now expected to be delivered in early January. 

"We are excited for sales and service to get up and running with Newgate. Once established, we will look further into other opportunities for the European Market," said David Michery, chairman and CEO of Mullen.

Mullen is an electric vehicle manufacturer. The I-GO is the company's urban commercial delivery vehicle, designed to bridge the gap between the growing demand for quick deliveries and space constraints in dense cities throughout Europe. 

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MULN Price Action: Mullen has a 52-week high of $6.05 and a 52-week low of 18 cents.

Mullen shares are up 11.2% at 25 cents at time of publication, according to Benzinga Pro.

Photo: courtesy of Mullen.