Mullen Automotive announces a projected $75M in GAAP revenue over the next six months, expecting to reach an average monthly revenue of $12.5M from Mullen Commercial and Bollinger Motors sales. The company has conducted over 80 vehicle demos across various U.S. industries, driving commercial sales progress.The company implements immediate cost-cutting measures, reducing monthly operating and investing cash flows from $12.8M to $7.3M. Key restructuring actions include a 20% workforce reduction, elimination of the Mullen FIVE passenger vehicle program, and facility consolidations through lease terminations. Revenue growth and associated gross margins are expected to further reduce cash requirements.Currently, Mullen has three vehicle lines in full production, with both the Mullen ONE (Class 1 EV cargo van) and Mullen THREE (Class 3 EV cab chassis truck) receiving CARB and EPA certifications. The company has expanded its commercial dealer network to seven dealers and secured FTZ status for its Tunica, Mississippi manufacturing center, offering benefits including duty deferment on exports.

Mullen Automotive announces a projected $75M in GAAP revenue over the next six months, expecting to reach an average monthly revenue of $12.5M from Mullen Commercial and Bollinger Motors sales. The company has conducted over 80 vehicle demos across various U.S. industries, driving commercial sales progress.The company implements immediate cost-cutting measures, reducing monthly operating and investing cash flows from $12.8M to $7.3M. Key restructuring actions include a 20% workforce reduction, elimination of the Mullen FIVE passenger vehicle program, and facility consolidations through lease terminations. Revenue growth and associated gross margins are expected to further reduce cash requirements.Currently, Mullen has three vehicle lines in full production, with both the Mullen ONE (Class 1 EV cargo van) and Mullen THREE (Class 3 EV cab chassis truck) receiving CARB and EPA certifications. The company has expanded its commercial dealer network to seven dealers and secured FTZ status for its Tunica, Mississippi manufacturing center, offering benefits including duty deferment on exports.