Last year, Mullen Automotive (NASDAQ: MULN) said it would unveil its first ever EV commercial products in 2023, ending the year with rather exciting news for its shareholders.
Today, the company is proud to announce and unveil two EV commercial products at the NTEA Work Truck Show this week.
Mullen Commercial is launching two commercial products in 2023: a fully electric Class 1 cargo van and Class 3 low-cab forward.
“We are excited to be at NTEA’s Work Truck Week and display the Mullen Commercial product lineup to both customers and commercial vehicle upfitters that are ready to electrify their fleets,” said John Schwegman, Mullen’s chief commercial officer.
“We believe the commercial market represents an excellent opportunity for our fully electric small van and our medium-duty tilt cab.”
“NTEA is the largest commercial truck show in North America and is a perfect platform for Mullen Commercial,” said David Michery, CEO and chairman of Mullen Automotive.
“This show gives us the opportunity to establish the Mullen Commercial brand with two great offerings that are coming to market this year.”
NTEA’s Work Truck Week 2023 takes place March 7-10 at the Indiana Convention Center and includes 511 exhibitors displaying the industry’s latest products and technology.
Latest MULN Stock News
The unveiling of Mullen Automotive’s two EV commercial products comes as the latest MULN stock news.
Mullen Automotive stock failed to meet Nasdaq’s $1 requirement by March 6th leading to investors wondering if a MULN reverse stock split is on its way.
Since the company was unable to meet the requirement, it will enter a grace period.
The company said in a statement that it intends to seek an extension from Nasdaq to meet the $1-per-share threshold.
“If such extension is granted, compliance of the minimum $1 stock share threshold requirement may be extended for a further 180 days until approximately September 6,” the company said.
The company has no plans at the current time to effect a reverse split. The Company has until March 6, 2023 to meet the Nasdaq minimum bid requirement of $1.00, said the Mullen Press Release as of January 25, 2023.
However, the company also stated the following:
“If the company still falls short of the minimum bid requirement, it will effect a reverse stock split at that time to maintain its Nasdaq listing compliance.”
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