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Mullen Automotive Inc (NASDAQ: MULN) has secured unique gross sales, distribution, and branding rights to the brand new compact city supply electrical automobile, the I-GO, in choose European markets.
The license is for Spain, France, Germany, U.Okay., and Eire.
The I-GO will be part of Mullen’s present business automobile lineup, which incorporates Class 1 and a couple of EV cargo vans.
Additionally Learn: Mullen Automotive Acquires Belongings Of Bankrupt ELMS
The Mullen I-GO, meant for corporations specializing in final mile deliveries, relies on a 96-inch wheelbase, 16.5-kWh battery pack, rear-wheel drive, and a curb weight of 1,753 lbs.
With a spread of 124 miles, the automobile is designed to deal with the cease/go and weave in/out typical of slim European city streets.
The I-GO can have a beginning worth of $11,999 plus VAT and native transportation and shall be retailed and serviced by native European distributors.
“Basically, this transaction gives the Firm income producing alternatives, promotes and extends the Firm’s model into different international locations whereas on the similar time permitting the Firm to stay totally targeted on its mission of producing its lineup of electrical autos within the USA,” mentioned David Michery, CEO and chairman of Mullen Automotive.
Additionally See: Mullen Automotive Hires Former GM Govt John Schwegman To Oversee EV Progress
Worth Motion: MULN shares are buying and selling larger by 27.6% at $0.48 on the final verify Monday.
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