Mullen is on track to produce 150 Class 3 EV trucks by the end of the year
Shares of Mullen Automotive Inc. sank further into record-low territory, after the electric-vehicle maker provided a production update.
The stock MULN, -2.80% dropped 3.6% in morning trading. It has tumbled 17.6% amid a four-day losing streak and was headed for a third-straight record-low close. Mullen said Monday that the estimated 150 Class 3 EV trucks it will produce are on schedule to be delivered to Randy Marion Automotive Group, with the first 10 delivered on Sept. 28.In total, Mullen expects to deliver more than 150 Class 3 vehicles to Randy Marion this year, and to complete the rest of the 1,000 Class 3 vehicle purchase order — 850 trucks — in 2024.
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