Mullen Automotive filed Wednesday an 8-K form reaffirming the sign of a binding deal with Dealpack Logistics LLC adding that the agreement includes “a one-time special purchase price of $35,000.00 for the first 600 Mullen Class One Electric Cargo Vans”.
The price per vehicle represents a potential revenue of $21 million if DPL goes ahead with the purchase of 600 Mullen Class 2 cargo vans after the tests with the pilot vehicles. The EV maker will now provide those vehicles “for examination, driving, and/or testing as required and/or deemed necessary by DPL,” Mullen said.
In the project description, Mullen also reiterated that the first 300 units “can be delivered to DPL” by the end of November at the request of the company.
“Following the execution of this Agreement, Mullen shall provide DPL with pilot vehicles for DPL to examine, drive, and/or test as required and/or deemed necessary by DPL.
DPL will provide Mullen with any and all comments and/or suggestions, if any, (i.e. specifications, requirements, costing, etc.) and Mullen will modify the vehicles, if necessary per DLP?s specifications. DPL will place a purchase order for up to 600 Mullen Class One Electric Cargo Vans over the next eighteen (18) months.
Mullen and DPL will negotiate the terms and conditions of said purchase order of the Mullen Class One Electric Cargo Vans, which will include a one-time special purchase price of $35,000.00 for the first 600 Mullen Class One Electric Cargo Vans, which will be fully homologated for the United States”.
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On early Wednesday, Delpack denied that it has entered into a binding contract with the EV maker to purchase up to 600 vans but rather “an agreement to consider buying EV Fleet vans, if all conditions are met”.
Delpack’s website, which is used as the company’s official website on its Indeed account, published on Wednesday morning a statement saying the company ” did NOT go into a binding contract with Mullen Automotive to purchase up to 600 vans. Alternatively, Delpack did go into an agreement to consider buying EV Fleet vans, if all conditions are met.”
On Monday, Mullen CEO David Michery said the agreement was “a milestone for Mullen Automotive” adding that DelPack “is a leader in last mile package delivery and this agreement puts our Class 1 cargo van program front and center for last mile delivery opportunities.”
Recently, the company filed a form with SEC inviting shareholders for its Annual Meeting to be held at Nasdaq Building in New York on July 26. Among the themes to discuss in the meeting, the shareholders will vote to approve the increase of the aggregate number of authorized shares to 2,250,000,000 shares.