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Mullen Automotive | 8-K: Mullen Announces Strong Forecast of $75M in GAAP Revenue for Next 6 Months and Immediate Reduction of $5.5M in Monthly Operating Expenses

Mullen Automotive | 8-K: Mullen Announces Strong Forecast of $75M in GAAP Revenue for Next 6 Months and Immediate Reduction of $5.5M in Monthly Operating Expenses

Mullen Automotive | 8-K：马伦宣布强劲预测未来6个月的GAAP收入为7500万美元，每月运营支出将立即减少550万美元
美股SEC公告 ·  2024/10/07 21:03

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Mullen Automotive announces a projected $75M in GAAP revenue over the next six months, expecting to reach an average monthly revenue of $12.5M from Mullen Commercial and Bollinger Motors sales. The company has conducted over 80 vehicle demos across various U.S. industries, driving commercial sales progress.The company implements immediate cost-cutting measures, reducing monthly operating and investing cash flows from $12.8M to $7.3M. Key restructuring actions include a 20% workforce reduction, elimination of the Mullen FIVE passenger vehicle program, and facility consolidations through lease terminations. Revenue growth and associated gross margins are expected to further reduce cash requirements.Currently, Mullen has three vehicle lines in full production, with both the Mullen ONE (Class 1 EV cargo van) and Mullen THREE (Class 3 EV cab chassis truck) receiving CARB and EPA certifications. The company has expanded its commercial dealer network to seven dealers and secured FTZ status for its Tunica, Mississippi manufacturing center, offering benefits including duty deferment on exports.
Mullen Automotive announces a projected $75M in GAAP revenue over the next six months, expecting to reach an average monthly revenue of $12.5M from Mullen Commercial and Bollinger Motors sales. The company has conducted over 80 vehicle demos across various U.S. industries, driving commercial sales progress.The company implements immediate cost-cutting measures, reducing monthly operating and investing cash flows from $12.8M to $7.3M. Key restructuring actions include a 20% workforce reduction, elimination of the Mullen FIVE passenger vehicle program, and facility consolidations through lease terminations. Revenue growth and associated gross margins are expected to further reduce cash requirements.Currently, Mullen has three vehicle lines in full production, with both the Mullen ONE (Class 1 EV cargo van) and Mullen THREE (Class 3 EV cab chassis truck) receiving CARB and EPA certifications. The company has expanded its commercial dealer network to seven dealers and secured FTZ status for its Tunica, Mississippi manufacturing center, offering benefits including duty deferment on exports.
Mullen汽车公司宣布预计在未来六个月内实现7500万美元的GAAP营业收入，预计来自Mullen商业和Bollinger Motors销售的平均月营业收入为1250万美元。该公司在美国各行业进行了超过80次车辆演示，推动了商业销售的进展。公司实施了立即的成本削减措施，将每月运营和投资现金流从1280万美元减少到730万美元。主要的重组措施包括减少20%的员工，取消Mullen FIVE乘用车项目，以及通过终止租赁进行设施整合。预计营业收入的增长和相关的毛利率将进一步减少现金需求。目前，Mullen有三条车辆生产线处于全面生产中，其中Mullen ONE（1类电动货车）和Mullen THREE（3类电动底盘卡车）均已获得CARb和EPA认证。该公司已将其商业经销商网络扩展至七个经销商，并为其在密西西比州Tunica的制造中心获得了FTZ资格，提供包括出口关税延期在内的好处。
Mullen汽车公司宣布预计在未来六个月内实现7500万美元的GAAP营业收入，预计来自Mullen商业和Bollinger Motors销售的平均月营业收入为1250万美元。该公司在美国各行业进行了超过80次车辆演示，推动了商业销售的进展。公司实施了立即的成本削减措施，将每月运营和投资现金流从1280万美元减少到730万美元。主要的重组措施包括减少20%的员工，取消Mullen FIVE乘用车项目，以及通过终止租赁进行设施整合。预计营业收入的增长和相关的毛利率将进一步减少现金需求。目前，Mullen有三条车辆生产线处于全面生产中，其中Mullen ONE（1类电动货车）和Mullen THREE（3类电动底盘卡车）均已获得CARb和EPA认证。该公司已将其商业经销商网络扩展至七个经销商，并为其在密西西比州Tunica的制造中心获得了FTZ资格，提供包括出口关税延期在内的好处。
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