Mullen Automotive expects to report $4.5 million in revenue for Q4 ended September 30, 2024, marking a 6,791% increase from $65,235 in Q3 2024. The company has significantly improved operational efficiency, reducing monthly cash burn to $12.7 million in Q4 from $18.1 million in Q1 2024, representing a 30% decrease.The company has secured $11.9 million from investors and anticipates an additional $600,000, representing 25% of their additional investment right. Mullen also maintains access to a $150 million equity line for common stock offerings, subject to market conditions. The company aims to achieve cash flow break-even by December 2025 through continued operational cost reductions.Recent developments include receiving IRS approval for federal EV tax credits up to $7,500 per vehicle, CARB and EPA certification for Mullen ONE and THREE models, and expansion of its commercial dealer network to seven dealers. The company's Tunica, Mississippi manufacturing facility has obtained Foreign Trade Zone status, offering benefits including duty deferment and elimination on exported vehicles.

Mullen Automotive expects to report $4.5 million in revenue for Q4 ended September 30, 2024, marking a 6,791% increase from $65,235 in Q3 2024. The company has significantly improved operational efficiency, reducing monthly cash burn to $12.7 million in Q4 from $18.1 million in Q1 2024, representing a 30% decrease.The company has secured $11.9 million from investors and anticipates an additional $600,000, representing 25% of their additional investment right. Mullen also maintains access to a $150 million equity line for common stock offerings, subject to market conditions. The company aims to achieve cash flow break-even by December 2025 through continued operational cost reductions.Recent developments include receiving IRS approval for federal EV tax credits up to $7,500 per vehicle, CARB and EPA certification for Mullen ONE and THREE models, and expansion of its commercial dealer network to seven dealers. The company's Tunica, Mississippi manufacturing facility has obtained Foreign Trade Zone status, offering benefits including duty deferment and elimination on exported vehicles.