By Michael Elkins
Mullen Automotive Inc (NASDAQ:MULN) announced Friday that the electric automaker has delivered the first order of class 1 EV cargo vans to MGT Company (“MGT”) in Highpoint, North Carolina, with the vehicle order fulfilled by Randy Marion Automotive Group.
“Mullen’s class 1 is a perfect entry point for us and working with the Company. The class 1 segment no longer has internal combustion engine options from the major OEM brands and certainly does not have any class 1 EV options. One of the biggest opportunities we see is the class 3 cab-chassis segment, with the potential to upfit and offer unlimited options for commercial customers,” said Thomas Gavlik, managing partner at MGT.
“MGT is a rapidly growing fleet leasing company that fully understands the commercial market and will help accelerate Mullen’s Fleet-First commercial vehicle approach,” said John Schwegman, Mullen’s chief commercial officer.
“We continue to see growing interest in our commercial EV offerings, and it’s great to have MGT as one of our first commercial customers,” said David Michery, CEO and chairman of Mullen Automotive. “We look forward to growing our relationship with MGT across our entire platform of commercial EV vehicles.”
Shares of MULN are up 21.91% in premarket trading on Friday.