Written by Cláudio Afonso | LinkedIn | X
Shares of the electric vehicle startup Mullen Automotive surged more than 16 percent on Friday to $4.53 after the California-based company announced the hiring of a Sales vice president for Europe, Middle East and Africa.
The company had recently said that intends to expand its commercial vehicle distribution in Europe, aiming to sell 800 units starting later this year.
The company has already received the first orders in Europe including the recently announced 40 Mullen-GO urban delivery vehicles to Gama in Serbia and 53 commercial vans and trucks for Antidoto SA in Switzerland.
The company has recently announced Gama as its first new European distributor, to commercialise its models in Bosnia, Serbia, Montenegro, Croatia, Slovenia, Macedonia, Albania, Greece and Bulgaria.
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Alain Van Munster, the new VP for the EMEA markets, worked previously at Manheim and Copart, the global provider of online vehicle auction and remarketing services to automotive resellers.
Last month, Mullen Automotive announced National Auto Fleet Group as a new dealership in California for its commercial electric fleet.
Earlier in the day, the company announced a limited duration stockholder rights plan. Essentially, the plan imposes a significant penalty on anyone acquiring 10 percent or more of the Common Stock without Board approval and will be active until the first of May of 2025.
The Plan does not involve financing, and no additional shares of Common Stock or Preferred Stock or warrants or convertible notes are currently being issued and aims to “promote the fair and equal treatment of all stockholders”.
Written by Cláudio Afonso | LinkedIn | X
