Mullen Automotive, Inc. (MULN) Stock Surged 6.27% Pre-Market, Here’s Why

Mullen Automotive, Inc. (MULN) stock soared 6.27% in the pre-market trading session at the price of $3.05 following the promotion of John Taylor to senior vice president.

Mullen is an automotive corporation that is focused on making EVs more affordable and accessible by devising an end-to-end system. The company partners with multiple synergistic firms working to promote scalable and clean energy solutions.

MULN Promoted John Taylor

On 4th April 2022, MULN reported promoting John Taylor, the company’s executive, to senior vice president. Taylor brings years of practical experience and expertise to MULN. He started his automotive career with General Motors and served as its operations manager, launch manager, and equipment manager. Later in 2010, he joined Tesla and played a crucial role in the onset of its Fremont facility for the Tesla model.

Chairman and CEO of MULN, David Michery, commented that John brought extensive experience in the electric vehicle manufacturing sector. He played a vital role in expanding and promoting AMEC’s ongoing operations in Mississippi. John’s global manufacturing expertise will be valuable as he evaluates and strategizes MULN’s national and multinational manufacturing projects.

MULN Bolstered Balance Sheet

Earlier on 28th March 2022, MULN announced its expectations to report cash and cash equivalents of above US$65M for Q2 of 2022. Mullen has also revealed multiple strategic partnerships with Comau, DSA Systems, and ARRK for the engineering, manufacturing, and production of EVs.

Since MULN’s Q4 of 2021, the company has launched two new models of FIVE show cars and reported the acquisition of a vehicle manufacturing facility in Mississippi. The company is working hard to deliver advanced electric vehicles built in the US to fit customers’ demands perfectly. The company hopes these developments to play a vital role in bringing EVs to the industry with cutting-edge technology.

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