Here is some news about Mullen Automotive:
- Expansion of Stake in Bollinger Motors: Mullen Automotive has increased its ownership in Bollinger Motors to 95% by acquiring an additional 21% stake1. This move is expected to boost shareholder equity by approximately $3.5 million and aligns with Mullen's strategic objectives for Bollinger's growth and customer service commitment.
- Relaunch of FIVE RS EV for German Market: Mullen Automotive has announced the relaunch of its ultra-high-performance Mullen FIVE RS EV Crossover, with vehicle sales targeted to begin in Germany by December 20252. The company has partnered with Faissner Petermeier Fahrzeugtechnik AG (FPF) to ensure production meets the highest global standards.
- Record Quarterly Results: Mullen Automotive reported record quarterly results for fiscal Q2 2025, highlighting a significant increase in revenue and a substantial reduction in net loss compared to the previous quarter3. The company achieved $5 million in revenue for Q2 2025, reflecting an increase of $33,000 year-over-year. CEO and Chairman David Michery noted this to be the company's best quarterly performance to date, reflecting a growth of over 143 times from Q2 2024.
- Reverse Stock Split: Mullen Automotive announced a 1-for-100 reverse stock split effective June 2, 2025, aiming to regain compliance with Nasdaq’s $1.00 minimum bid price requirement4. The reverse split will reduce Mullen’s outstanding common shares from approximately 80 million to about 800,000, with trading to begin on a split-adjusted basis under the same ticker symbol.
Overall, these developments reflect Mullen Automotive's strategic growth initiatives and its commitment to expanding its vehicle lineup and market presence.
6/5/2025 01:07pm
