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Mullen Automotive, an electric vehicle manufacturer, has reported a record GAAP revenue of $3.18 million for the quarter ending March 31, 2025. Alongside this financial milestone, the company is implementing significant cost-cutting measures, including staff reductions and facility eliminations, to streamline operations and reduce expenses. Despite these cuts, Mullen remains focused on advancing its battery technology and increasing commercial revenue through its EV lineup.
Key Highlights:
- Record Revenue: $3.18 million for the quarter ending March 31, 2025.
- Cost-Cutting Measures: Includes staff reductions, facility eliminations, and reduced operating expenses.
- Strategic Focus: Advancing battery technology and increasing commercial revenue.
- EV Lineup: Mullen ONE (Class 1) and Mullen THREE (Class 3), both fully certified by the EPA and CARB.
- Bollinger Motors: Launched the B4 Chassis Cab and began deliveries in October.
The cost-cutting initiatives are part of Mullen’s ongoing efforts to consolidate business operations and reduce its burn rate. These measures, set to take effect in April 2025, include additional staff reductions as the company integrates its operations, further elimination of facilities, and a continued reduction in operating expenses. CEO David Michery highlighted the company’s adaptability, stating, “We continue as an organization, taking every opportunity to adapt our verticals based on market needs, allowing us to remain competitive in an ever-changing economy.”
Mullen’s commercial EV lineup features the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck. Both vehicles are available for sale and comply with U.S. Federal Motor Vehicle Safety Standards, as well as certifications from the Environmental Protection Agency (EPA) and the California Air Resources Board (CARB), ensuring adherence to strict clean air emissions standards.
Additionally, Bollinger Motors, a majority-owned subsidiary of Mullen, has made significant progress with the launch of its B4 Chassis Cab, an all-electric Class 4 commercial truck. Designed with input from fleets and upfitters, the B4 began deliveries to customers in October, marking a key achievement for the company.
Mullen Automotive operates two vehicle plants in the United States: a 120,000-square-foot facility in Tunica, Mississippi, and a 650,000-square-foot plant in Mishawaka, Indiana. The company began commercial vehicle production in Tunica in August 2023 and has since expanded its dealer network to include seven dealers across key U.S. markets.
As Mullen continues to navigate the evolving EV market, its dual focus on cost efficiency and technological advancement positions it to capitalize on the growing demand for electric commercial vehicles. For more information, visit Mullen Automotive’s website.
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