Electric vehicle maker, Mullen Automotive (NASDAQ:MULN) announced Friday that the automaker has reached a production milestone this month.
As stated in Mullen's press release, the company celebrated a milestone by manufacturing its 100th Mullen THREE, a Class 3 cab chassis electric truck, which recently came off the production line in Tunica, Mississippi.
“This is an important milestone for Mullen and demonstrates our EV assembly plant in Tunica is scaling up to meet the commercial vehicle production schedule that was planned at launch,” said CEO and chairman, David Michery.
“We are laser-focused on commercial vehicle production and customer deliveries.”
As of December 22, 2023, Mullen has successfully completed 125 Mullen THREE trucks.
Mullen's production strategy is synchronized with existing customer purchase orders. The Randy Marion group had previously submitted a purchase order for 1,000 Class 3 trucks.
The company has structured its Class 3 truck production capacity at the Tunica facility to reach 3,000 units annually per shift. This setup allows for flexibility to accommodate additional units in the production schedule as more customers confirm their orders, ensuring adaptability to demand fluctuations.
Shares of MULN are down 23.02% in afternoon trading on Friday.