Volt Mobility is Based in The United Arab Emirates
Current Volt clients include UPS, DHL and FedEx throughout the Gulf Cooperation Council ("GCC") region, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
Volt Order Includes 3,000 Mullen ONE's and THREE's Over a 16-Month Period
Pictured is the Mullen THREE, Class 3 EV truck with stake body upfit.
Mullen to receive initial $3 million deposit and will begin shipping first vehicles immediately
Volt, a leading UAE-based commercial leasing company with clients including UPS, DHL and FedEx, to purchase 3,000 EV cargo vans and trucks over the next 16 months
BREA, Calif., Aug. 26, 2024 (GLOBE NEWSWIRE) -- via IBN – Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an electric vehicle ("EV") manufacturer, announced today that Volt Mobility ("Volt"), based in the United Arab Emirates ("UAE"), has entered into a purchase agreement for approximately $210 million to acquire 3,000 Class 1 and Class 3 EV cargo vans and trucks over a 16-month period. Mullen will receive an initial $3 million deposit within 60 days and additional payments as the vehicles are delivered. The Company will begin shipping the first vehicles immediately.
Mullen expects to recognize approximately $210 million in revenue over the next 16 months of the agreement. Volt intends to lease these vehicles to its corporate customers based in the Middle East and Gulf States. Current Volt clients include UPS, DHL and FedEx throughout the Gulf Cooperation Council ("GCC") region, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).
Volt's vehicle order will be assembled at Mullen's Tunica, Mississippi-based Commercial Vehicle Facility, which is capable of producing 20,000 Class 1 and 6,000 Class 3 vehicles annually with two production shifts.
Founded in 2020, Volt quickly established itself as one of the largest and most influential commercial EV leasing companies in the region. Volt's vehicle portfolio includes 17 models with focus on light, medium and heavy-duty electric vehicles. Volt leases vehicles to corporate customers providing first to last-mile delivery for fast moving goods and provides heavy duty trucks for shuttling service across the region, serving clients including large transport businesses under a long-term secured leasing model
The UAE has identified e-mobility as a priority policy area and is now seven years into an ambitious plan to decarbonize its infrastructure and energy production. The Emirate's Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050 seek to generate 100% power from clean energy sources by 2050. Furthermore, Dubai's Roads and Transport Authority ("RTA") has rolled out a long-term strategy to migrate towards net-zero emission public transport by 2050.
"At Volt, we don't just follow trends; we set them. Our mission is clear: lead the transformation to sustainable, efficient and cutting-edge transportation," said Sophia Nau, managing director and CFO for Volt Mobility.
"Volt is reshaping the way people and businesses move across the UAE and GCC," said David Michery, CEO and chairman of Mullen Automotive. "This landmark agreement provides Mullen with exposure to leading global transportation companies and the opportunity for utilizing Mullen EVs across the UAE and other areas of the Middle East."
Additional details, including the related agreement, can be found in the Company's Form 8-K to be filed with the SEC.
Mullen's commercial EV lineup includes the Mullen ONE Class 1 EV cargo van, the Mullen THREE Class 3 EV cab chassis truck, and the Bollinger B4 Class 4 and Bollinger B5 Class 5 EV cab chassis trucks from its subsidiary, Bollinger Motors. Mullen's full lineup of commercial EVs is purpose-built to meet the demands of urban last-mile delivery; available for sale and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency and the California Air Resources Board ("CARB") certifications, denoting strict adherence to clean air emissions standards. The Bollinger B4 begins Start of Production ("SOP") on Sept. 16, 2024, with deliveries beginning in October 2024.
About Volt Mobility
We are unwavering in our commitment to sustainability, and we firmly believe in the potential of electric mobility to revolutionize industrial transportation. Our steadfast commitment aligns seamlessly with the transformative potential of electric mobility in the industrial sector. By leveraging the latest technologies, we strive to create a cleaner, more efficient and seamlessly connected transportation network tailored for industrial applications. Whether you operate in logistics, manufacturing or any industrial sector, Volt Industrial Mobility is your partner in driving positive change. Join us as we work towards a future where industrial electric vehicles play a pivotal role in creating environmentally conscious, high-performance and cost-effective transportation solutions.
To learn more about Volt, visit .
About Mullen
Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles ("EVs") with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board ("CARB") and EPA certified and available for sale in the U.S. Recently, CARB issued HVIP approval on the Mullen THREE, Class 3 EV truck, providing up to a $45,000 cash voucher at time of vehicle purchase. The Company has also recently expanded its commercial dealer network with the addition of Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group and Eco Auto, providing sales and service coverage in key Midwest, West Coast and Pacific Northwest and New England markets. The Company also recently announced Foreign Trade Zone ("FTZ") status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. FTZ approval provides a number of benefits, including deferment of duties owed and elimination of duties on exported vehicles.
To learn more about the Company, visit .
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements about our plans, expectations and objectives with respect to the purchase agreement with Volt, the anticipated purchase and delivery of vehicles and expected revenue. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are subject to a number of risks and uncertainties, including but are not limited to, uncertainty that Volt will abide by its contractual obligations, including payment of the deposit and order of vehicles as expected, the timing and dates for receipt of payments pursuant to the agreement, successful certification of the vehicles in the GCC region, delays in production and delivery of vehicles, unanticipated returns of vehicles, delayed commercial product launches and the achievement of operational milestones, and changes in domestic and foreign business, market, financial, political and legal conditions that may affect incentives and the general market for EVs.. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen's plans and expectations as of any subsequent date.
Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
Corporate Communications:
IBN
Los Angeles, California
310.299.1717 Office
Editor@InvestorBrandNetwork.com
Attachments
- Volt Mobility is Based in The United Arab Emirates
- Volt Order Includes 3,000 Mullen ONE's and THREE's Over a 16-Month Period
Volt Mobilityはアラブ首長国連邦に拠点を置いています。
現在のVoltのクライアントには、バーレーン、クウェート、オマーン、カタール、サウジアラビア、およびアラブ首長国連邦(UAE)を含む湾岸協力会議(GCC)地域全域のUPS、DHL、およびFedExが含まれています。
Voltの注文には、16か月の期間にわたって3,000台のMullen ONEとthree'sが含まれています。
写真は、ステークボディを装備したクラス3のEVトラック、Mullen THREEです。
Mullenは初めに300万ドルの入金を受け取り、すぐに最初の車両の出荷を開始します。
Voltは、UPS、DHL、FedExなどのクライアントを持つ、アラブ首長国連邦を拠点とする有力な商用リース会社で、次の16か月間に3,000台のEV貨物バンとトラックを購入します。
2024年8月26日(GLOBE NEWSWIRE)--IBN経由で、BREA、カリフォルニア、 Mullen Automotive, IncMULNMULNElectric Vehicle(「EV」)メーカーのマレン(「Mullen」または「会社」)は、今日、 Volt Mobility(「Volt」)は、アラブ首長国連邦(「UAE」)に拠点を置く、16ヶ月間で3,000台のクラス1およびクラス3のEV貨物バンとトラックを購入するための契約を締結したことを発表しました。 マレンは、最初の60日以内に300万ドルの入金を受け取り、車両が納品されるにつれて追加の支払いを受け取ります。会社はすぐに最初の車両を出荷します。
マレンは、契約の次の16か月で約2億1,000万ドルの収益を認識する見込みです。Voltはこれらの車両を中東および湾岸諸国に拠点を置く法人顧客にリースする予定です。現在のVoltのクライアントには、Bahrain、Kuwait、Oman、Qatar、Saudi Arabia、United Arab Emirates(UAE)を含む、Gulf Cooperation Council(GCC)地域全体にUPS、DHL、FedExが含まれています。
Voltの車両注文は、Mullenのミシシッピ州チュニカにある商用車施設で組み立てられます。この施設は、2つの生産シフトを組むことができ、年間20,000台のクラス1車両と6,000台のクラス3車両を生産することができます。
2020年に設立されたVoltは、すぐにこの地域で最大かつ最も影響力のある商用EVリース会社の1つとして自己を確立しました。Voltの車両ポートフォリオには、軽・中・重負荷の電気自動車に焦点を当てた17モデルが含まれています。Voltは、速達商品の最初から最後までの配送を提供する法人顧客に車両をリースし、長期にわたる確保されたリースモデルの下で地域全体でのシャトルサービスに重装トラックを提供しています。
UAEは、環境負荷の少ない輸送を優先政策領域として位置づけ、インフラストラクチャとエネルギー生産の脱炭素化を目指す野心的な計画を7年間実行しています。 クリーンエネルギー戦略2050 と ネットゼロの二酸化炭素排出戦略2050年 2050年までに100%の電力をクリーンエネルギー源から生成することを目指しています。さらに、ドバイの道路交通局(RTA)は、2050年までにネットゼロの排出公共交通に移行する長期戦略を展開しています。
「Voltでは、トレンドを追いかけるだけでなく、トレンドを作り出します。私たちのミッションは明確です:持続可能で効率的かつ最先端の交通手段への変革をリードする」と、Volt Mobilityのマネージングディレクター兼CFOであるソフィア・ナウは語っています。
「Voltは、UAEとGCCを横断する人々やビジネスの移動方法を変えつつあります」と、Mullen AutomotiveのCEO兼会長であるデヴィッド・ミシェリーは述べています。「この画期的な合意により、Mullenは世界的な交通企業との関係を築く機会を得て、Mullen EVをUAEや中東の他の地域で利用する機会が生まれました。」
関連する合意書を含む追加の詳細は、SECに提出される会社の8-kフォームで確認できます。
Mullenの商用EVラインナップには、Mullen ONEクラス1 EVカーゴバン、Mullen THREEクラス3 EVキャブシャシトラック、およびその子会社であるBollinger MotorsのBollinger B4クラス4およびBollinger B5クラス5 EVキャブシャシトラックが含まれます。 Mullenの完全な商用EVラインナップは、都市の最終マイル配送の要求に対応するために特別に設計されており、米国連邦自動車安全基準、環境保護庁およびカリフォルニア州空気資源委員会(「CARB」)の認証に完全に適合し、清浄な空気資源基準への厳密な遵守を示しています。 Bollinger B4は2024年9月16日の生産開始(「SOP」)であり、2024年10月から配送が開始されます。
Volt Mobilityについて
私たちは持続可能性への取り組みを堅持し、電気モビリティの可能性が産業輸送を革命的に変えられると強く信じています。私たちの堅固な取り組みは、産業部門での電気モビリティの変革的な可能性とシームレスに一致しています。最新の技術を活用して、ロジスティクス、製造、または他の産業セクターであっても、インダストリアルアプリケーションに適したクリーンで効率的かつシームレスに接続された輸送ネットワークの創造に努めています。Volt Industrial Mobilityは、環境意識が高く、高性能かつ費用効果の高い輸送ソリューションの創造において、お客様のパートナーです。
Voltについての詳細は、訪問してください。 .
ミューレンについて
Mullen Automotive(NASDAQ: MULN)は、南カリフォルニアに拠点を置く自動車会社で、米国に2つの車両工場を持ち、ミシシッピ州チュニカ(12万平方フィート)とインディアナ州ミシャワカ(65万平方フィート)にあります。2023年8月、Mullenはチュニカで商用車の生産を開始しました。2023年9月、Mullenは、資格のあるメーカー指定を持つ連邦EV税額控除について、IRSの承認を受けました。適格な顧客には、車両あたり最大$7,500が支払われます。2024年1月時点で、Mullen ONE(Class 1 EV貨物車)とMullen THREE(Class 3 EVキャブシャーシトラック)は、カリフォルニア大気質管理局(CARB)およびEPAの認証を受け、米国で販売可能です。CARbは最近、Mullen THREE、Class 3 EVトラックのHVIP承認を発行し、購入時に最大で$45,000のキャッシュバウチャーが提供されました。同社は最近、ミッドウェスト、西海岸、太平洋北西部、ニューイングランドの主要な市場で販売およびサービス範囲を提供するプリチャードEV、National Auto Fleet Group、Ziegler Truck Group、Range Truck Group、Eco Autoの商用ディーラーネットワークを拡大しました。同社はまた、ミシシッピ州チュニカの商用車製造センターについての外国貿易区域(FTZ)ステータス承認を発表しました。FTZの承認には、支払われる税金の先延ばしなどの多くの利点があります。
会社の詳細については、www.MullenUSA.comを訪問してください。.
出典:Nutex Health, Inc。
お問い合わせ:
マレン自動車株式会社。
+1 (714) 613-1900
企業通信:
IBN
カリフォルニア州ロサンゼルス
310.299.1717 オフィス
Editor@InvestorBrandNetwork.com
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