Mullen Automotive Slashes Burn Rate And Powers Ahead With EV Sales Surge - What's Going On?

Benzinga12-19

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher after the company announced a commercial vehicle sales update. Since September 30, Mullen said it has sold 100 Class 1 and Class 3 ...

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(NASDAQ:MULN) shares are trading higher after the company announced a commercial vehicle sales update.\nSince September 30, Mullen said it has sold 100 Class 1 and Class 3 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/mullen-automotive-slashes-burn-rate-160052295.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mullen Automotive Slashes Burn Rate And Powers Ahead With EV Sales Surge - What's Going On?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMullen Automotive Slashes Burn Rate And Powers Ahead With EV Sales Surge - What's Going On?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-19 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/mullen-automotive-slashes-burn-rate-160052295.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher after the company announced a commercial vehicle sales update.\nSince September 30, Mullen said it has sold 100 Class 1 and Class 3 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/mullen-automotive-slashes-burn-rate-160052295.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MULN","symbol_name":"Mullen Automotive","start_time":0,"source_url":"https://finance.yahoo.com/news/mullen-automotive-slashes-burn-rate-160052295.html","article_id":"2492136216","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/k.PiApxGpJI0ME8kI.sHFQ--~B/aD01NTM7dz05ODM7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/Benzinga/92346ad2ed37b0ee113732c79bd4bd2d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492136216","pubTimestamp":1734537652,"columns":[{"name":"Data Report","id":30,"label_key":"dataReport"}],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Mullen Automotive, Inc.  shares are trading higher after the company announced a commercial vehicle sales update.Since September 30, Mullen said it has sold 100 Class 1 and Class 3 electric cargo vans and trucks, generating $5.5 million in total sales. This marks a significant milestone in the company's growing momentum in the commercial EV sector.The vehicles sold include 57 Class 3 and 43 Class 1 EV cargo vans and trucks. However, these numbers exclude Bollinger Motors’ sales and expenses.The company has also made significant strides in reducing its monthly burn rate. In August 2024, Mullen's burn rate was $16.8 million. By September, this had decreased to $11.8 million, and further reduced to $5.3 million for October and November 2024.The demand for sustainable transportation solutions is driving strong sales across multiple industries, with Mullen in ongoing discussions with government agencies, universities, and large fleets to expand EV adoption across the U.S.2024 Benzinga.com. ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MULN":"Mullen Automotive"},"translate_title":"Mullen Automotive大幅削减燃烧率并推动电动汽车销量激增-发生了什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MULN":1},"content_text":"Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading higher after the company announced a commercial vehicle sales update.\nSince September 30, Mullen said it has sold 100 Class 1 and Class 3 electric cargo vans and trucks, generating $5.5 million in total sales. This marks a significant milestone in the company's growing momentum in the commercial EV sector.\nThe vehicles sold include 57 Class 3 and 43 Class 1 EV cargo vans and trucks. However, these numbers exclude Bollinger Motors’ sales and expenses.\nThe company has also made significant strides in reducing its monthly burn rate. In August 2024, Mullen's burn rate was $16.8 million. By September, this had decreased to $11.8 million, and further reduced to $5.3 million for October and November 2024.\nThe demand for sustainable transportation solutions is driving strong sales across multiple industries, with Mullen in ongoing discussions with government agencies, universities, and large fleets to expand EV adoption across the U.S.\nAlso Read: All Eyes On December Fed Meeting As Traders Await Interest Rate Projections\nMullen’s commercial EV lineup includes the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck, both of which meet the requirements of U.S. Federal Motor Vehicle Safety Standards and environmental regulations.\nThe Mullen THREE qualifies for significant incentives, including a $15,000 rebate through the Massachusetts MOR-EV program and a $45,000 voucher from California's HVIP program.\nAs Mullen expands its footprint both domestically and internationally, its focus remains on building traction for both Mullen and Bollinger Motors, the company said.\nPrice Action: MULN shares are trading higher by 3.70% to $1.276 at last check Wednesday.\nRead Next:\n\nFed's December Meeting Could Crush Rate Cut Optimism For 2025\n\nUp Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.\nGet the latest stock analysis from Benzinga?\n\nThis article Mullen Automotive Slashes Burn Rate And Powers Ahead With EV Sales Surge - What's Going On? originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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