BREA, Calif., Oct. 24, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive, Inc . (NASDAQ: MULN ) (“Mullen†or the “Companyâ€), an emerging electric vehicle (“EVâ€) manufacturer, announces today it has secured exclusive sales, distribution and branding rights to the new compact urban delivery electric vehicle, the I-GO, which is fully EU Standard homologated and certified for sale in select European markets.
Perfect for urban European markets, the I-GO bridges the gap between the growing demand for quick deliveries and space constraints found throughout the dense cities of Europe.
There is high demand for ready to market urban delivery vehicles in Europe. The Company has seized the opportunity to extend its branding and marketing reach to the European market through its partnership with the manufacturers of the I-GO. The Mullen I-GO, intended for companies focusing on last mile deliveries, is based on a 96-inch wheelbase, 16.5-kWh battery pack, rear-wheel drive, and a curb weight of 1,753 lbs. With a range of 124 miles, according to NEDC estimate, the vehicle can easily handle the stop/go and weave in/out typical of narrow European urban streets. The I-Go was built with the intention to get to the customer’s door faster, all while decreasing pollution and congestion levels across Europe. The I-GO will have a starting price of $11,999 plus VAT and local transportation and will be retailed and serviced through local European distributors.
“Securing the exclusive sales, distribution and branding rights in major European countries for a ready to market electric commercial delivery vehicle is a huge win for the Company. The Company plans on licensing its rights to established dealerships in these desirable European markets. Essentially, this transaction provides the Company revenue generating opportunities, promotes and extends the Companyâ€
The I-GO will join Mullenâ€
About Mullen
Mullen Automotive is a Southern California-based automotive company building the next generation of premium electric vehicles (EVs) that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. The Mullen FIVE, the Companyâ€
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. 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. Examples of such risks and uncertainties include but are not limited to whether the Company will meet the required contractual benchmarks to continue with its exclusive rights to the I-GO; whether the Company will be successful in its endeavors to secure licensing or similar arrangements for the I-GO with European vehicle dealerships; whether demand for ready to market urban delivery vehicles will continue in the European market; whether the I-GO will ultimately be available at the starting price of $11,999 plus VAT and local transportation; and whether the envisioned branding, marketing reach and revenue generating opportunities associated with the I-GO will materialize and if so, prove successful for the Company. Additional examples of such risks and uncertainties include but are not limited to; (i) Mullenâ€
Contact :
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com
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