Mullen announces the launch of the FIVE model in October amid the U.S. TestDrive Tour

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter

The EV manufacturer Mullen Automotive announced Monday that the first Mullen FIVE vehicles will begin arriving this October amid the start of the “Strikingly Different” Test Drive Tour. The company added that has also other events planned across the U.S. in 2023 where the fully electric Crossover will be shown.

The Mullen FIVE model features a 120-kWh battery pack, 325 miles of range, 0-60 mph in 3.2 seconds and a top speed of 155 mph while the RS Hig Performance version will feature 0-60 mph in 1.95 seconds and a top speed of over 200 mph.

As announced in early May, Mullen FIVE reservation holders will have the opportunity to test drive and experience the EVs in person during two-day events conducted in each city.

The tour will start in Mullen’s home base, Southern California, and will cover major U.S. cities including Los Angeles, San Diego, Las Vegas, Houston, Dallas, Memphis, Miami, Atlanta, Charlotte, Washington, Philadelphia, New York, Boston, Detroit, Chicago, Denver, Seattle, Portland, and San Francisco.

Mullen said that will “interview consumers to gain insights into customer needs and focus on continuous improvements” with the RS version only arriving in for the test drives on the second part of the tour in Spring of 2023.

“We are thrilled to launch the first fully functional, demonstrator FIVE EV Crossover vehicles this October. Mullen and hofer have been working diligently to have these vehicles ready in time for Mullen’s ‘Strikingly Different’ U.S. tour. Congratulations to both the hofer and Mullen teams on being able to make this monumental effort a reality,” said David Michery, Mullen’s CEO.

Mullen will offer “Front Row” FIVE reservation holders the first chance to test drive and experience the Mullen FIVE in person on the “Strikingly Different” U.S. test drive tour.

Recently, Ken Griffin’s Citadel reported its 13F form for the second quarter of the year announcing a $389.71 billion market cap as of June 30, down from $484.45 billion by the end of the first quarter.

When it comes to the EV startup Mullen Automotive, the Chicago-based hedge fund sold nearly 30% of its put options but also the 532,000 shares reported on March 30. In addition, Citadel sold 4.65% of the call options during the second quarter of the year.

As reported earlier this month, Geode Capital Management added over 2.5 million shares of the EV startup during the second quarter, a 13F form revealed.

The fund joins the world’s largest asset manager BlackRock and also Vanguard on the list of institutions that added over 2.5 million shares during the second quarter.

Last week, Mullen Automotive announced its preliminary third-quarter results saying it is in a “strong financial position, with approximately $99 million in cash and cash equivalents on hand as of Aug. 8, 2022”.

A couple of days earlier, the company unveiled the appointment of Andre Hudson as its Vice President of Design. Hudson will lead the growth and development of the Mullen brand through strong product and portfolio development.

Furthermore, Mullen opened recently a new EV Technology team in Pontiac (Michigan) to develop EV technologies for its commercial vans.

The company said the team “will be home to a new division of engineers and technology developers focused on Mullen’s Class 1 – 5 commercial vehicle development” expecting to have upwards of 50 employees by the end of 2022 after the first 20 new hires. 

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter

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