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Mullen Automotive Soars 22.99% on Major EV Deal

Mover TrackerTuesday, Apr 22, 2025 5:05 am ET

1min read

Mullen Automotive, Inc. (NASDAQ: MULN) has seen a significant rise of 22.99% in pre-market trading on April 22, 2025. This surge comes on the heels of a major deal announced by the company, which has garnered substantial attention from investors and industry analysts alike.

Mullen Automotive has secured a notable order from Cashflow on Wheels, a leading logistics company based in Houston, Texas. The deal involves the delivery of 20 all-electric Mullen THREE vehicles, valued at approximately $1.4 million. This order underscores the growing demand for environmentally friendly commercial vehicles and highlights Mullen's commitment to sustainability and innovation in the electric vehicle (EV) market.

Cashflow on Wheels, known for its focus on last-mile delivery and local trucking solutions, has been testing EVs across its routes and has reported measurable savings of over $500 per route per week. This transition to EVs is expected to not only reduce operational costs but also provide the scalability needed for future expansion. The addition of the Mullen THREE to their fleet is a testament to the company's dedication to adopting advanced EV solutions.

David Michery, CEO and chairman of Mullen Automotive, expressed enthusiasm about the order, stating that the Mullen THREE is a perfect fit for Cashflow on Wheels' diverse customer base, including major players like FedEx and Amazon. This partnership is expected to further solidify Mullen's position in the commercial EV market and drive future growth opportunities.

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