Developing electric automaker, Mullen Automotive (NASDAQ:MULN) announced today that the company has begun deliveries of their Class 3 EV Cab Chassis Trucks to Randy Marion Automotive Group.
According to the announcement, Mullen has delivered the first ten Class 3 EV Cab Chassis Trucks to the group, invoiced at $630,000. These first ten vehicles represent a fraction of the 1,000 Class 3 vehicles ordered in May 2023, with a total value of $63 million.
Another 150 units are scheduled for delivery to Randy Marion by the end of 2023, and the remaining 850 vehicles from the 1,000-vehicle order are expected to be delivered over the course of 2024.
“This is a significant point in our evolution as we shift the Company from engineering development and engineering approvals to production and vehicle deliveries for our customers. As the Class 3 line is fully operational, production will be increasing month-to-month throughout the next year,” said CEO David Michery.
Shares of MULN are down 5.68% in afternoon trading Thursday.