Mullen Automotive Soars After Securing Sales License for I-GO EV in Europe

  • Mullen Automotive Inc (NASDAQ: MULN) has secured the exclusive sale, distribution and trademark rights for the new compact urban delivery electric vehicle, the I-GO, in select the European market.

  • Licenses for Spain, France, Germany, Great Britain and Ireland.

  • The I-GO will join Mullen’s current commercial vehicle lineup, which includes Class 1 and 2 EV cargo vehicles.

  • Also read: Mullen Automotive acquires assets of bankrupt ELMS

  • The Mullen I-GO, for companies focused on last-mile delivery, is based on a 96-inch wheelbase, a 16.5 kWh battery pack, rear-wheel drive, and a curb weight of 1,753 lbs.

  • With a range of 124 miles, the car is designed to handle the stop/go and weave in/out typical of narrow European urban streets.

  • The I-GO will start at $11,999 plus VAT and local transportation, and will be retailed and serviced through local distributors in Europe.

  • “Essentially, this transaction gives the Company the opportunity to generate revenue, promote and expand the Company’s brand to other countries, while allowing the Company to fully focus on its manufacturing mission. its electric vehicle line in the United States,” said David Michery, CEO and President of Mullen Automotive.

  • Also see: Mullen Automotive hires Former GM CEO John Schwegman to oversee EV growth

  • Price action: MULN stock is trading 27.6% higher at $0.48 as of Monday’s final check.

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