Company has reduced monthly burn from $16.8M in August 2024 to $11.8M in September 2024 and to $5.3M in October and November 2024

Since Sept. 30, 2024, Mullen has sold and delivered 57 Class 3 and 43 Class 1 EV cargo vans and trucks for a total of 100 vehicles and $ 5.5 million; these numbers exclude sales and expenses by Bollinger Motors

Orders continue to build as Mullen moves forward efforts with government agencies, universities and large fleets to expand adoption of EV vehicles across America and abroad

BREA, Calif., Dec. 18, 2024 (GLOBE NEWSWIRE) -- via IBN – Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an electric vehicle ("EV") manufacturer, announces today a commercial vehicle sales update since Sept. 30, 2024, with a total of 100 Class 1 and Class 3 EV cargo vans and trucks sold for sales totaling $5.5 million. The Company has also significantly reduced its monthly burn from $16.8 million in August 2024 to $11.8 million in September 2024 and to $5.3 million in October and November 2024.

The growing demand for sustainable commercial transportation solutions is driving significant sales momentum for Mullen Commercial electric vehicles across multiple industries. Mullen is in continued discussions with government agencies, universities and large fleets to expand adoption of EV vehicles across America. The total of 100 all-electric vehicles sold since Sept. 30, 2024, includes 57 Class 3 and 43 Class 1 EV cargo vans and trucks.