GreenCarNewsBreaks Archive - Page 5 of 55

ThursdayNov 07, 2024 10:35 am

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Subsidiary Bollinger’s B4 Truck Qualifies for $100,000 Incentive Under New York’s NYTVIP Program

Mullen Automotive (NASDAQ: MULN) announced that Bollinger Motors has qualified for New York State’s New York Truck Voucher Incentive Program (“NYTVIP”), offering up to a $100,000 voucher for its all-electric B4 Truck. This incentive, provided by NYSERDA, marks the fourth state incentive for Bollinger in the Northeast, adding to similar programs in Massachusetts, New Jersey and Pennsylvania. Alongside a federal tax credit of $40,000 under the Inflation Reduction Act, Bollinger’s B4 Truck is primed to offer substantial financial incentives, bolstering its adoption in commercial fleets. Recent milestones for Bollinger include regulatory certifications, significant fleet orders and partnerships with dealers and…

WednesdayOct 30, 2024 11:29 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Subsidiary Expands West Coast Footprint with First Bollinger B4 EV Truck Deliveries

Mullen Automotive (NASDAQ: MULN) has announced that its subsidiary, Bollinger Motors, has delivered three Bollinger B4 electric trucks to TEC Equipment locations across Washington and California. The 2025 Bollinger B4, an all-electric Class 4 chassis cab truck built for commercial use, aims to support fleet electrification efforts on the West Coast, marking a milestone with TEC Equipment as a new dealer. These deliveries reflect a significant revenue contribution to Mullen’s fiscal quarter ending December 2024. The B4 model qualifies for up to $100,000 in federal and state tax incentives, strengthening Bollinger’s position in the EV commercial truck market and building…

MondayOct 28, 2024 12:43 pm

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Gains $10M Support from Robert Bollinger to Propel B4 EV Truck Production

Mullen Automotive (NASDAQ: MULN) announced that Bollinger Motors founder, Robert Bollinger, has provided $10 million in non-dilutive debt financing to accelerate the production and sales of Bollinger’s all-electric Class 4 B4 truck. This funding supports Bollinger’s full-scale production efforts, with trucks now assembled by Roush Industries in Michigan, using over 70% U.S.-made content. Mullen CEO David Michery commended Bollinger’s continued commitment to building the brand, with more details on the financing to be filed in an upcoming Form 8-K with the SEC. To view the full press release, visit https://ibn.fm/HCNb4 About Mullen Automotive Inc. Mullen Automotive is a Southern California-based…

ThursdayOct 17, 2024 11:50 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Regains Nasdaq Compliance, Panel Hearing Canceled

Mullen Automotive (NASDAQ: MULN) announced that it has regained compliance with Nasdaq's minimum bid price requirement, as confirmed by formal notice from Nasdaq on Oct. 16, 2024. With this compliance, Mullen meets all Nasdaq continued listing standards and will remain listed on the Nasdaq Capital Market. As a result, a previously scheduled hearing before the Nasdaq Panel has been canceled, and Mullen expects to be removed from Nasdaq’s list of noncompliant companies within approximately four business days. To view the full press release, visit https://ibn.fm/la2hC About Mullen Automotive Inc. Mullen Automotive is a Southern California-based automotive company building the next…

MondayOct 14, 2024 12:48 pm

GreenCarNewsBreaks — Lucid Group Inc. (NASDAQ: LCID) Partners with Four Seasons to Provide Guests with Unique, Ecofriendly Driving Options

Lucid Group (NASDAQ: LCID), maker of the world's most-advanced electric vehicles, is teaming up with Four Seasons hotels and resorts to offer complimentary cars for guest use at select locations. The collaboration begins this month and underscores the commitment both companies have for environmental stewardship as well as providing guests with flexible, unique, ecofriendly experiences during their stays. Guests can either reserve a Lucid vehicle for a complimentary driving experience or enjoy a chauffeured Lucid house car, based on availability. In addition, Lucid is providing electric vehicle chargers, which are compatible with other electric vehicle types and will be available…

MondayOct 14, 2024 11:42 am

GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Announces Plans to Establish Mullen Credit Corporation to Support Dealers, Customers

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced plans to establish Mullen Credit Corporation (“MCC”) as its wholly owned subsidiary. According to the announcement, MCC will offer vehicle floor planning, enabling the company’s growing dealership network to finance inventory upfront and repay the loan plus interest once the vehicle is sold. MCC will also provide fleet and small business customers with attractive financing options.“Our business is experiencing rapid growth, with projected sales for 2025 expected to increase significantly. Consequently, our financing needs have also evolved,” said David Michery, Chairman and CEO. “Mullen Credit Corporation will provide…

MondayOct 07, 2024 1:15 pm

GreenCarNewsBreaks — Lucid Group Inc. (NASDAQ: LCID) Provides Q3 Production and Delivery Numbers, Schedules Release of Q3 2024 Financial Results

Lucid Group (NASDAQ: LCID), maker of the world’s most advanced electric vehicles, today announced that it produced 1,805 vehicles and delivered 2,781 vehicles during the quarter ended September 30, 2024. According to the announcement, 8% of the vehicle deliveries were subject to operating lease accounting. The company also announced that it will host a conference call to discuss its Q3 2024 financial results subsequent to the issuance of an earnings press release. The call is scheduled for Thursday, November 7, 2024, at 2:30 p.m. PT / 5:30 p.m. ET. The link to the live webcast will be available on the…

MondayOct 07, 2024 9:45 am

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Forecasts $75M in GAAP Revenue Over Next 6 Months, Implements Immediate Measures to Cut Overall Expenses

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that it expects to ramp up its commercial sales to a monthly average of $12.5 million. As a result, the company forecasts $75 million in estimated GAAP revenue over the next six months from both Mullen Commercial’s and its subsidiary Bollinger Motors’ sales opportunities and pilot programs. The announcement also noted that the company is taking immediate steps to reduce its overall spend (operating and investing cash flows) from $12.8 million to $7.3 million. The $5.5 million cut is driven by a 20% reduction in headcount, elimination of…

FridayOct 04, 2024 9:30 am

GreenCarNewsBreaks — Mullen Automotive Inc.’s (NASDAQ: MULN) Bollinger Motors Delivers Five B4 All-Electric Trucks to First US Dealership

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that its subsidiary, Bollinger Motors, has delivered five Bollinger B4 Chassis Cabs to Nacarato Truck Centers’ facility in LaVergne, Tennessee. The delivery was valued at $800,000, with the company receiving full wire transfer payment on September 30, 2024. Nacarato Truck Centers becomes the first dealership in the U.S. to receive the B4s. The dealership will sell four vehicles to commercial fleet customers and use one vehicle for its own internal parts deliveries between its 13 locations. “Nacarato Truck Centers is thrilled to be the first dealership in the…

WednesdayOct 02, 2024 10:55 am

GreenCarNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Reports 6791% QoQ Revenue Growth, Continued Decrease in Monthly Cash Burn

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced expectations to report a significant revenue increase for the quarter ended September 30, 2024. The company anticipates recording approximately $4.5 million in revenue in the just-ended quarter, compared to $65,235.00 in the previous quarter ended June 30, 2024, a quarter-over-quarter increase of 6791%. According to the announcement, the company’s monthly cash burn for the quarter ended September 30, 2024, is approximately $12.7 million per month, down from $12.8 million for the quarter ended June 30, 2024, and $18.1 million for the quarter ended March 31, 2024. The announcement…

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