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Mullen Automotive Inc (NASDAQ:MULN) announced Thursday that the electric automotive company has received a purchase order for 6,000 Class 1 EV cargo vans from Randy Marion Isuzu, LLC, a member of the Randy Marion Automotive Group. The agreement is valued at approximately $200 million.
Mullen recently announced Randy Marion as its first commercial dealer partner to offer sales, service and parts for Mullen Automotive’s commercial vehicle lineup.
“We see a tremendous opportunity with the Mullen commercial portfolio, and the launch of the commercial van could not come at a better time,” said Randy Marion, CEO and founder of RMA. “There’s significant pent-up customer demand for Mullen to fulfill. I have many customers looking at me to find product for their companies.”
“This is a real vote of confidence in our company. We appreciate Randy’s vision and aggressiveness to partner with us,” said John Schwegman, chief commercial officer for Mullen Automotive. “He clearly sees the future in commercial EVs.”
“The Randy Marion Automotive team is fully aligned with our Class 1 EV plan and is well positioned to help us capitalize on our first mover advantage in the commercial EV segments,” said David Michery, chairman and CEO of Mullen Automotive.
Shares of MULN are up 15.042% in mid-day trading on Thursday.
