Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, is reporting financial results for the three months ended Dec. 31, 2023; the company is also reporting a business update. Highlights of the report included the company regaining compliance with the NASDAQ minimum-bid price requirement in January; the achievement of several key milestones, including CARB and federal EPA and NHTSA certification for its Class 1 and Class 3 vehicles, as well as IRS approval as a “qualified manufacturer”; the completion of its lightweight service truck body for the All-Electric Mullen THREE; the submission of a preapplication to the U.S. Department of Energy Advanced Technology Vehicles Manufacturing (“ATVM”) loan program to support the company’s strategic expansion into domestic battery material processing and manufacturing; and the opening of a battery module and pack development facility in Fullerton, California. “We are coming off our strongest quarter to date for vehicle production and deliveries,” said Mullen Automotive CEO and chair David Michery in the press release. “For the three months ended Dec. 31, 2023, the company delivered 231 vehicles. For the 12 months ended Sept. 30, 2023, the company delivered a total of 35 vehicles. Our pivot to focus on commercial EVs last year was a strategic move and has been paying off as we continue to see increased demand across our Campus, Class 1 and Class 3 EVs and PowerUP charging trucks.”

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About Mullen Automotive Inc.

Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover; the Mullen-GO Commercial Urban Delivery EV; the Mullen commercial class 1–3 EVs; and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and class 4–6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all Electric Last Mile Solutions (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the company, visit www.MullenUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

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