Mullen (NASDAQ:MULN) announced Monday that the emerging electric vehicle company is currently on track to produce 150 Class 3 EV trucks through December 2023.
The company also revealed that they are on track to begin Class 1 EV cargo van production and deliveries in Q4 2023.
Mullen's Class 3 production for 2023 is proceeding as planned, aiming to produce and deliver around 150 vehicles to Randy Marion Automotive Group.
“I am proud to say both our Class 3 production acceleration and our Class 1 manufacturing preparations are on track at our Tunica assembly plant,” said CEO David Michery.
The initial batch of ten vehicles was already sent to RMA on Sept. 28, 2023. Mullen intends to exceed 150 deliveries this year and fulfill the remaining 1,000 Class 3 vehicle purchase order in 2024, with the production schedule fixed at 850 trucks.
Shares of MULN are down 8.28% in afternoon trading on Monday.