08/09/2022 | Press release | Distributed by Public on 08/09/2022 08:44
Company has strongest balance sheet ever with approximately $99 million cash on hand and in cash equivalents as of Aug. 8, 2022
BREA, Calif., Aug 09, 2022- via InvestorWire - Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, an emerging electric vehicle ("EV") manufacturer, announces preliminary third-quarter results. In addition to recent highlights and successes for the Company and its EV programs, Mullen is in a strong financial position, with approximately $99 million in cash and cash equivalents on hand as of Aug. 8, 2022.Financial Highlights
Program Highlights
The following are program highlights related to the company, Mullen FIVE EV Crossover and Mullen EV Cargo Van programs.
"It's an exciting and pivotal time for Mullen as we continue to experience exceptional growth," said David Michery, CEO and chairman of Mullen Automotive. "We've been focused on expanding our capital positions, resources, and efforts in all key business areas, and we are really seeing it come together with our recent expansions and successes."
About Mullen:
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer's life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. For more information, please visit www.MullenUSA.com.
Forward-Looking Statements
This press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar expressions, as well as statements in the future tense, often signify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the reverse merger, the Nasdaq approval process, and the proposed debut date of the Mullen FIVE (formerly MX-05) midsize crossover. These forward-looking statements are, by their nature, subject to significant risks and uncertainties.
Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including factors beyond the Company's control. As a result of these and other risks, uncertainties, and assumptions, forward-looking events and circumstances discussed herein might not occur in the way the Company expects or at all. Accordingly, readers should not place reliance on any forward-looking information or statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise. All forward-looking statements herein are qualified by reference to the cautionary statements set forth in this section.
Contact:
Mullen Automotive, Inc.