Nucor earnings beat by $0.08, revenue fell short of estimates
BREA, Calif. - Mullen Automotive, Inc. (NASDAQ: MULN), an emerging electric vehicle (EV) manufacturer with a current market capitalization of just $3 million, has announced the upcoming release of its ultra-high-performance EV crossover, the Mullen FIVE RS. According to InvestingPro data, the company faces significant financial challenges with a weak overall financial health score of 0.54. The company revealed that the FIVE RS will be available for sale in Germany in December 2025, with plans to expand into other European Union countries, the United Arab Emirates, and South Africa in 2026.
The Mullen FIVE RS boasts a top speed of over 200 mph and can accelerate from 0-60 mph in under 2 seconds, making it a contender in the high-performance EV segment. The vehicle features an 800-volt architecture, all-wheel drive, a two-speed gearbox, and delivers over 1,100 horsepower.
Mullen has completed 800V battery performance testing at the TUV SUD facility in Munich and is moving towards on-road vehicle testing. This phase is crucial for the final validation and homologation of the vehicle.
The company is collaborating with Faissner Petermeier Fahrzeugtechnik AG (FPF), a European manufacturing partner with extensive experience in developing and producing components and sophisticated vehicles for well-known global brands. FPF’s expertise is expected to ensure the high quality of the FIVE RS, aligning with Mullen’s standards. InvestingPro analysis reveals the company operates with a significant debt burden and a concerning current ratio of 0.25, indicating potential challenges in meeting short-term obligations.
David Michery, CEO and chairman of Mullen Automotive, expressed enthusiasm for the market launch of the FIVE RS in Germany, highlighting the company’s ambition to introduce an ultra-high-performance EV to the market. The partnership with FPF is set to capitalize on their shared commitment to excellence in the EV space.
Mullen Automotive has established itself in the commercial EV market in the United States with production facilities in Mississippi and Indiana. While the company has achieved CARB and EPA certification for its commercial EV models and is expanding its dealer network across key U.S. markets, financial metrics from InvestingPro show significant challenges, including negative gross profit margins and rapid cash burn. Subscribers to InvestingPro can access 14 additional key insights about Mullen’s financial position and market performance.
The announcement of the FIVE RS signals Mullen’s entry into the competitive high-performance EV market, with the company aiming to establish a successful track record in key European markets before launching the vehicle in the U.S.
This news is based on a press release statement from Mullen Automotive, Inc.
In other recent news, Mullen Automotive has increased its ownership in Bollinger Motors to 95% by acquiring an additional 21% stake, enhancing shareholder equity by approximately $3.5 million. This acquisition allows Mullen to regain full control of Bollinger Motors, which will continue to operate independently under Mullen’s ownership. Additionally, Mullen Automotive announced a 1-for-100 reverse stock split, effective June 2, 2025, to meet Nasdaq’s minimum bid price requirement. The reverse stock split will reduce the number of outstanding shares from about 80 million to approximately 800 thousand.
In another development, Mullen Automotive has settled with GEM Group regarding the transfer of its Mishawaka assets in satisfaction of a judgment. GEM will conduct a 55-day due diligence period to assess this asset transfer. Meanwhile, Bollinger Motors, a subsidiary of Mullen Automotive, delivered an all-electric Bollinger B4 truck to the Lower East Side Ecology Center in New York City for its compost program. The B4 truck features a 158-kWh battery pack and a payload capacity of 7,325 pounds. These recent developments highlight Mullen Automotive’s strategic moves to strengthen its position in the electric vehicle market and resolve outstanding legal matters.
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