Mullen Automotive, Inc., (NASDAQ: MULN) –Lawrence Hardge did a livestream on Facebook this afternoon during which he updated investors on the Saudi deal and also announced there are multiple billion-dollar deals coming out of the middle east and Asia including in Lebanon and Dubai. He confirmed that MAEO is building a facility in Michigan to mass produce the Energy Management Module (EMM) technology to supply Saudi Arabia and the middle east. While investors had hoped the Saudi deal would close today, Lawrence did state they have already reached an agreement with the Saudi’s and he does not need to go there to close the deal. He said he will have to go there at some point to train people to install the EMM technology on its vehicles.

A deal worth as much as $10 billion with Saudi Arabia is not something that happens overnight, and while Saudi Arabia is committed and both parties have reached an agreement, Lawrence Hardge who said he hopes they announce it this week must wait for the Saudis to make the announcement themselves. Mr. Hardge has previously confirmed that Mullen will get half of the Saudi deal under the 51% controlled MAEAO. Currently Mr. Hardge’s Lawyers are negotiating the final details of the MAEO deal with Mullen, something they are trying to get done before they start announcing these deals. We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

$MULN If this doesn’t get you excited! 👀👇👀👇👀👇. Your impatience is my opportunity! @Mullen_USA pic.twitter.com/iNP7ewuAaS

— Just Michelle (@MaryMichelleNay) May 30, 2023

Another important aspect of the livestream is that Lawrence confirmed that Saudi Arabia has had the technology for 8 months now during which they have performed multiple tests.  Mr. Hardge went on to say that the product has been tested 100,000 times all over the Country with the same results. A golf cart with the EMM technology installed on it ran for 26.6 hours, a 6 passenger Polaris ran 7 hours and 42 minutes, foot to the floor. These are certified independent tests. A host of major government agencies including the US army, department of energy, military as well as a number of corporations have also tested the technology with the same results – a dramatic increase in efficiency and range on any EV vehicle.

During the livestream Mr. Lawrence Hardge stated: “We are working out the final details of our agreement and that is very positive and at that point when we complete the agreement which will hopefully be this week we will be making major announcements. One of the things I wanted in my agreement is the newly formed subsidiary that we formed I want to be separate from Mullen. Whatever business that Mullen conducts, that’s Mullen’s business. I don’t get into Mullen’s business. I’m focused on the subsidiary that Mullen’s and I share 51/49% Once again the revenues go through Mullen 51/49% through the subsidiary. Meaning the deals that we have, the deals that I have, that we have been working on, the middle east. I was working on these deals before Mullen ever came into the picture. We are doing a partnership ok. Now, are there deals in the middle east? Absolutely yes, there’s about 3 deals in the middle east, there’s a couple of other deals coming from other parts of the word. This is tentative. We have already committed. The deals are committed so nobody can back out. The Saudi deal, this other thing, matter of fact, when everybody is questioning me about going to Lebanon, excuse me Saudi Arabia, we do have a deal now that’s coming out of Lebanon, ok, a couple more members of my team flew to Lebanon a couple of days ago. Me going to Saudi, I am very reluctant to go to Saudi, I have no, I wish not to go, but I have to go at some point. My purpose of going to Saudi Arabia is not to close the deal that’s already tentatively agreed upon. Its actually to train people, how to install our technology on their vehicles. That’s number 1, these deals are such a large amount, I made it clear to the lawyers, I don’t want to be out here making announcements. I want to rap up our deal that we have with Mullen’s this week and then let the Company’s make the announcements so you have more faith in them.”

An important thing that came out of the livestream is that currently Mullen and Lawrence’s Lawyers are working out the final details of MAEO.

$MULN #MULN …. It’s A RUMOR… Until It’s Not!!!💪💪💪❤️👵🩳🔥🤞⏰🛸🏫🚐🚚🚗 https://t.co/rEPHhnyIfq pic.twitter.com/JulrdJN2NV

— maliburum67 (@malibu_rum67) May 30, 2023

Lawrence then spoke of the legal issue he had 30 years ago however he does not have to explain anything, it was not his fault. What happened 30 years ago and has no bearing on his revolutionary EMM black box technology. He continued:

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Lawrence Hardge continued: “Back to the manufacturing. We have already been working with manufactures for 8 months prior to Mullens coming in and we are going to mass produce the product, everything has been approved, we are going to mass produce the products supply to Saudi Arabia and other countries in the middle east because in the agreement it is tentative to put a plant in Michigan. You guys know, that’s not overnight, they don’t come and build a plant and its up tomorrow. So we have a supply deal with out technology. I don’t know how long its going to put a plant in Michigan, however every unit sold it a partnership between me and Mullen 51/49. Mullen’s will be using the technology on their vehicles. As you may or may not know, the technology was tested on Mullen’s vans. EV certified test. I provided it to the right people, they are going to make an announcement about it, but we are not mentioning names today, if I mention any names, a 100,000 will be calling that Company and asking about the deal, and that’s not part of their job, answering these phone calls. When we made the announcements of the government deal, the government asked us to not post anything else about what’s going on in Washington, DC because guys are inundating their phone systems with phone calls about the DC deal asking if its real. Of course it’s real, but it’s not my job to be the pr person for Mullen my job is the subsidiary…so you are hearing it from me. Are there multibillion dollar deals on the table? YES, you heard it from me you cant change that, the people want what we have. This product has been tested 100,000 times all over the Country with the same results, you can’t change that. On golf carts, we have Company’s that want to put the technology on Golf carts. I put the technology on a golf cart, it ran 26.6 hours, certified tests, nonstop, foot to the floor. You can’t refute that. I put it on a 6 passenger Polaris it ran 7 hours and 42 minutes, foot to the floor. These are certified independent tests….A host of major corporations have tested this, from the US army, department of energy, military, all of that.

These are the 3rd party testing results for Lawrences Technology. $MULN #mullen pic.twitter.com/BrPxmbsVzm

— Financial Journey (@FinJourney) May 30, 2023

According to Mullen’s own testing, MAEOs EMM owned technology dramatically increases the efficiency and driving range of any current EV battery. Installed on Mullens Class 1 EV Cargo Van there was a 75% increase in range for the 42-kWh lithium-ion battery pack, which would be a calculated EPA estimated range of 186 miles. Vehicle testing of a high-volume OEM electric vehicle by Element also resulted in a calculated increase in range from 269 to 431 miles, representing a 60% increase in efficiency.

$MULN Let me help the new investor connect the dots; Black Rock & Vanguard own majority of Lucid, both these Tutes have been loading- increasing their positions in Mullen in 2023. Something bigger than retail is about to happen today with MULN & Global EV Tech pic.twitter.com/kbikrT7hzm

— GregRoadking (@gregoryjflores1) May 30, 2023

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Mullen is a southern California based EV Company with its executive offices in Brea as well as manufacturing facilities in Indian and Mississippi where the Company plans to start mass production of its M3 EV in July. The Company does have $116 million in its treasury to start production as well as another $45 million coming in July. Mullen is also on the cutting edge of EV battery technology gaining a significant advantage through the acquisitions of CODA and Bollinger and currently has two separate facilities in Monrovia and in Detroit dedicated to developing the next evolution of solid-state lithium battery technology. The Company is led by CEO David Michery, an experienced deal maker who made millions as a successful music producer in LA well as from launching the number #1 show Baywatch. As CEO of Mullen he has successfully prepared the Company for entry into mass production and entered the light commercial EV market with the M1 and M3 Electric Vans which have already received $279 million in orders from Randy Marion. While Mullen has over 34 million shares sold short, the Company has an enormous baser of investors including over 200 institutional investors that are betting big Mullen will be a major player in the US EV space in the coming years and the Company’s current valuation of well under $200 million will be history once any one of these multi billion dollars deals comes to fruition. We have explained extensively in prior articles why the Saudi who are making a big push into EVs spending $50 billion over the next 10 years are so interested in MAEO EMM technology. We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.

Mullen Automotive Inc., (NASDAQ: MULN) – In late breaking news Mr. Lawrence Hardge has confirmed that the previously announced $10B deal with Saudi Arabia is set to close on Tuesday.  On Friday Rick Dunham tweeted “Take it for what it’s worth, but as some of you know, I’m the one that has been posting Facebook Messenger IMs I’ve been having with Lawrence. According to what he told me this morning. He isn’t in Saudi Arabia yet. The lawyers are, but he is not.” Mr. Dunham went on to say: “he said he doesn’t need to be there to close the deal, but he (or his brother) will be going there to train people after the announcements. He has also stated that press releases will be coming out from both him AND Mullen on Tuesday.”   

This comes several days after Mr. Hardge confirmed that Mullen gets half of the Saudi Deal which will be split 50/50 under MAEO. Mr. Hardge also confirmed at that time that there is a “major announcement” which we now know is coming Tuesday. Mr. Harge also stated that revenues from the Saudi deal would be 10 x what Mullen is currently making from its commercial program. He confirmed they will be building a new battery manufacturing facility under MAEO in the US, most likely in Indiana or Michigan near to where Mullen already has established facilities. There has long been doubt as to how exactly the Saudi deal would benefit Mullen. The fact that Mr. Hardge has now confirmed that Mullen gets 50% of the deal is a significant development. We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Earlier today ChaCha posted this to twitter. If this is true shorts are going to have a really bad day on Tuesday. This is translated from Arabic and is unconfirmed. The article was originally posted in Arabic by the SRD Center, an independent research and development center based in Aman, Jordan but has since been removed.  

$MULN #MULN this just popped up and not sure any truth to this https://t.co/pSSkxnUuLY pic.twitter.com/Hjmv3DF4Se

— ChaCha 🏦🔋🏕💦⚡️🚚1️⃣🚗5️⃣⚡️7️⃣🇰🇷🇺🇸🏈🏀🍣 (@chacha72kobe4er) May 28, 2023

Saudi Arabia is positioning itself to be a major global hub for Electric Vehicles as well as well as EV battery technology, betting on its proximity to critical minerals and markets. Saudi Arabia certainly has the resources, capital and conviction to make it happen. The Kingdoms geographical position at the headwinds of Africa, Europe, and Asia makes it an axis point to import minerals such as lithium, nickel, cobalt, manganese, and graphite from mines in Africa, produce batteries and EVs domestically, and export to lucrative European, Indian, and Middle Eastern markets – all while maintaining a comparatively low shipping time and cost. Saudi Arabia is also looking to source lithium for EV battery production within its borders, assessing and issuing mining licenses to tap into its own mineral resources, with an estimated potential value of $1.3 trillion as well as looking for economically efficient ways to extract and process lithium from seawater.   

In a world rapidly moving towards a post-oil future, the oil giants of the Arab Gulf have no less desire to drive the transportation of tomorrow. Saudi Arabia hopes that the EV market will enable it to sustain the geopolitical prestige it established as a hegemon in the oil market and aims to have EVs make up 30% of all vehicles on the road by the end of this decade as part of its 2030 Vision. The Kingdom is also seeking international partnerships to establish an EV facilitating ecosystem centered on major urban areas and spur domestic EV sales and ownership. Saudi Arabia plans to spend $50 billion in EVs over the next 10 years and is beginning to wield its economic might recently announcing a $6 billion investment in a steel plate mill complex and electric vehicle (EV) battery plant as well as signing agreements with the South Korean vehicle manufacturer Hyundai and the Chinese firm Enovate to help to establish in‑country EV assembly plants.  

3am tonight $MULN https://t.co/R9eX1ZZ0Jv

— DavidReds928 (@DReds928) May 28, 2023

Last month Crown Prince Mohammed bin Salman launched the first Saudi vehicle brand CEER which will scale up to 500,000 EVs a year in the next few years out of its manufacturing facility at the King Abdullah Economic City (KAEC). The PIF also recently invested $2 billion in Lucid which has announced plans to build an electric vehicle (EV) also at KAEC to manufacture 150,000 vehicles annually. Also, several days ago, the Saudi business council held its annual event in Riyadh featuring project opportunities estimated at over $1 trillion in sectors such as infrastructure, real estate, tourism, utilities, and energy including emerging technologies related to battery energy storage systems.   

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Lawrence Hardge’s team is in Saudi Arabia negotiating the final terms of the $10 billion Saudi deal. A deal with Saudia Arabia or the Saudi Investment Fund (PIF), would fundamentally transform Mullen into a powerhouse in the EV market.   Currently trading for well under a $200 million market valuation any deal on this level could also fundamentally transform Mullens stock price especially considering the shorts increased their position to over 34 million shares short on Friday. If the announcement does come out on Tuesday morning as promised, shorts could be in serious trouble trying to cover 34 million shares in a hurry.  

There is little doubt why Saudi Arabia is so interested in MAEO EMM battery technology that significantly increases the range and efficiency of any EV battery at minimal cost. Mullen engineers have tested the technology for several months now and they have stated in numerous press releases that testing of Mullen’s Class 1 EV Cargo Van at its Troy, Michigan, facility showed a 75% increase in range on a 42-kWh lithium-ion battery pack. Vehicle testing of a high-volume OEM electric vehicle by Element also resulted in a calculated increase in range from 269 to 431 miles. The technology has also been installed on 40 chevy Bolts under MAEOs $680,000 contract with the DC Government where it was also thoroughly tested again.  

This guy gets it 👏👏 $MULN pic.twitter.com/2msNOgUbKG

— Mullen (@007bull07) May 27, 2023

Mullen is positioning itself to a leader in EV battery technology. Mullen engineers have been hard at work creating the next generation of electric vehicle batteries, including advanced technology like Lithium-Sulfur and Solid State. Last year, Mullen reported that data collected from solid-state cell testing shows impressive results, including a range of 600-plus miles on a full charge and over 300 miles of range delivered in 18 minutes with DC fast charging representing a significant advancement over today’s current lithium-ion batteries. Mullen is also conducting extensive research and development into other advanced battery technologies, including lithium-sulfur and lithium-iron-phosphate. Mullen’s ultimate goal is to deliver EV batteries that will surpass today’s existing lithium-Ion technology and offer a host of benefits such as increased efficiency, energy density, and range while also lowering the cost, weight, thermal and environmental risks.  

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Mullen is a southern California Ev manufacturer operating out of Brea, California that owns a high-voltage battery R&D facility, located in Monrovia, as well as another battery manufacturing facility in Detroit. Mullen also owns two state of the art vehicle manufacturing facilities in Indiana and in Mississippi. Mullens Indiana facility covers 650,000 sq. ft. of manufacturing space and previously produced General Motors Hummer H2 and the Mercedes-Benz R-Class vehicle. Mullen is planning to enter mass production of its M3 EV Van at its Tunic facility this July as well as Bollinger’s B4 later this year. The Company has a war chest of about $116 million in cash and will receive another $45 million on July 12 and has already received $279 million in purchase orders for Mullen Class 1 and Class 3 EV Vans and Trucks from Randy Marion Automotive Group. Mullen also has a deal with Rapid Response Defense Systems (RRDS) to fast-track U.S. Federal Government opportunities for potential large-scale vehicle fleet orders. The Mullen ONE is the first EV cargo van for sale in the U.S. market in the Class 1 commercial vehicle segment.     We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.

Mullen Automotive, Inc., (NASDAQ: MULN) – Made a powerful reversal off $0.72 Lows on Thursday morning and spiked to a high of $0.94 as the short position increased its position to over 34 million shares according to Ortex; a sure sign Mullen has reached its bottom and is now on a major reversal northbound. Mullen has seen steady declines in recent weeks and has been on a straight line drop since the stock was over $10 per share in February. At current price levels Mullen trades at a market valuation of just over $100 million, a small number indeed for a Company that has $116 million in the treasury, is receiving another $45 million on July 12 and plans to go into mass production of its M3 Van at its Tunica facility starting in July.  

Mullen is starting to look significantly undervalued at current levels and the short position which has increased its position by 10 million shares in recent days, is starting to get skittish and today’s move proves it. They have shorted the stock into oblivion and significantly increased their positions to the point where they know they might be in serious trouble here especially as Mullen continues to tick northbound. Mullen has a long history of making major reversals northbound and has made several of them over the past year. In spring 2022 after months of downward pressure Mullen reversed off $0.52 and rocketed up to a high of $4.16 a 900% reversal in 3 weeks. This is a troublesome history for the short position who know they will have difficulty covering 34 million shares of Mullen if the stock continues to move northbound. We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

At just over $100 million market valuation Mullen is beginning to look like a buyout candidate. Besides the $116 million in the treasury, as well as the $45 million coming on July 12, Mullen has over $400 million in assets and while they carry these assets at $400 million in their books this is not a true picture of the real value of Mullens assets. Mullens Mishawaka, Indiana manufacturing facility where Mullen will manufacture the Bollinger B1s and B2s as well as the Mullen FIVE covers 650,000 sq. ft. of manufacturing space and previously produced General Motors Hummer H2 and the Mercedes-Benz R-Class vehicle. In the past the facility produced 100,000 vehicles per year and ELMS paid $145 million for the facility when they bought it. Michery has stated in numerous interviews that it would cost well over $1 billion USD to build the facility from the ground up. Mullen acquired the assets of ELMS for pennies on the dollar following ELMS bankruptcy after its $1.4 billion SPAC IPO.   

🚀 $MULN 🧨 LH will deliver and May will be a great month. It would be nice to see the 10B in May of 2023. The long term holder is the real winner. He may made mistake to gave a 2 weeks timeline but I don’t think he is a lier. He is a very honest and transparent person IMO.

— Mullen (@007bull07) May 25, 2023

Mullen also owns its manufacturing facility in Tunica, Mississippi where the Company plans to enter mass production of its M3 Van in July covering 120,000 sq. ft. turn-key engineering facility on 100 acres. Mullen brought on NRTC to get the facility production ready and recently completed transferring commercial vehicle equipment from Indiana to Tunica. Mullen has hired 35 additional plant staff to begin production and anticipates deliveries and revenue from the Class 3 truck in August and September 2023.   Mullen is also currently building a 1.2 million square ft. expansion of the facility. These two manufacturing facilities would be highly attractive assets for any automaker or EV Company.   

$MULN #MULN 739k shares returned. Is it the Lawrence factor? pic.twitter.com/fZvFJry8DZ

— Duane Thomas (@BoysPadre) May 25, 2023

Mullen also has other assets that would be attractive to most EV automakers including its high-voltage battery R&D facility, located in Monrovia, Calif. After acquiring the facility with the CODA assets, Mullen retrofitted the facility to accommodate the production of EV battery packs. Mullen also owns another battery manufacturing facility in Detroit. This represents a significant footprint across the country, a setup any US ev automaker would want to own. Mullen also owns a valuable intellectual property portfolio related to all aspects of the EV business acquired through the acquisitions of Bolinger which has a huge patent portfolio related to the B1 and B2, ELMS as well as CODA where Mullen acquired patents related to solid state polymer battery cell technology. Mullen also filed over 100 patents for the FIVE, many of them on the EVs PERSONA infotainment technology that utilizes facial recognition to personalize the driving experience for every individual.  

$MULN #MULN @hardge_law87778 let’s go pic.twitter.com/cHarRLqoFp

— ChaCha 🏦🔋🏕💦⚡️🚚1️⃣🚗5️⃣⚡️7️⃣🇰🇷🇺🇸🏈🏀🍣 (@chacha72kobe4er) May 25, 2023

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Mullen is also on the cutting edge of EV battery technology and has created solid-state polymer batteries that are resistant to fire and when installed in the Company’s FIVE RS on an 800-volt architecture, the car has 1,100 horsepower and goes from 0 to 60 in 1.7 seconds. Mullen Lithium-Sulfur batteries use the same manufacturing equipment as Lithium-Ion, but with simpler steps and a smaller factory footprint, resulting in less than half the cost to manufacture. By taking battery pack production in-house, Mullen is able to lower costs and increase overall quality control in battery pack development and it reduces Mullen’s dependency on third-party suppliers and reduces the risk associated with material and supply shortages, which currently plague the automotive industry. Mullen also owns 51% of MAEO that holds Lawrence Hardge revolutionary battery technology that according to recent press releases the Company’s Class 1 EV Cargo Van showed a 75% increase in range when tested with the EMM technology which Mullen plans to retrofit on all upcoming models.   

#MULN $MULN @DavidMichery updates on the share Intel investigation? Please. This is getting more ridiculous by the day! Time to stop with the " Mullen news.." and interact with your loyal holders. @Mullen_USA @bollingermotors #MULNARMY pic.twitter.com/geTgFq0rYQ

— David Zilkie (@DZilkie) May 23, 2023

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Mullen is now on a powerful reversal northbound after hitting lows of $0.72 per share on Thursday morning. After spiking to highs of $0.94 Mullen gave back some of its gains hitting $0.81 before continuing northbound from there. The spike to $0.94 also proved Mullen short position is getting extremally skittish here. As we said, covering 35 million shares in a hurry as Mullen moves northbound is not going to be so easy. There are also a lot of catalysts at play here including Mullens 50% owned Saudi deal which is close to be finalized by all accounts with Mr. Hardge headed to Saudi Arabia next week. Mullen has already secured $279 million in orders from Randy Marion and as the Company prepares to enter mass production in Tunica in July the current market valuation does not represent the real value of this Company meaning Mullen can more far here.  We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.

Mullen Automotive Inc (NASDAQ: MULN) – In a response asking Mr. Lawrence Hardge to update investors on the deal that he previously stated would be announced in May and if his team was still in Saudi Arabia, Mr. Hardge stated that: “Good news this week. They are still there. Announcement will be made between Friday and Monday. Everybody will be so proud and happy.” This is good news for Mullen shareholders who are looking for a positive catalyst to turn things around. Last week Mr. Hardge stated that there will be multiple deals coming out of the Middle East this month. In addition, some major announcements with a major international automotive company as well in another region of the world. Mr. Hardge has previously stated that May is going to be a big month. 

In late breaking news: Mr. Lawrence Hardge spoke to Financial Journey on YouTube Wednesday and according to Cal, Lawrence stated there definitely is a deal that will be announced between Friday and Tuesday. Currently Mr. Hardge’s team is in Saudi Arabia negotiating the final touches on the Saudi deal and Mr. Hardge himself will be headed out to Saudi Arabia next week. Notably, Mr. Hardge stated that Mullen will get half of the Saudi deal so it will be under MAEO and potential revenues from the deal to Mullen would be 10x current revenues presumably the $279 million in orders from Randy Marion Group, He also confirmed they will be building a new battery manufacturing facility as part of the Saudi deal in the US probably in Indiana or Michigan where Mullen has already established facilities. 

Investors are also waiting on more information on the $10 billion Saudi deal which Mr. Hardge has stated is in the final stages of negotiations with just details such as territories being worked out now. Mr. Hardge has spoken frequently of the Saudi deal and even appeared in a live stream with several investors from Saudi Arabia. According to Mr. Hardge, the deal could be significantly bigger than just $10 billion and would include an EV battery technology manufacturing facility in the US under the 51% Mullen owned MAEO subsidiary as well as potentially getting MAEO listed on the Saudi stock exchange. We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

The timing is perfect for Mullen to announce a number of big deals coming out of the middle east. It is encouraging to know Mr. Hardge’s team is in Saudi Arabia right now presumably negotiating the final details of the $10 billion Saudi deal. Mullen has been hit hard in recent days as the stock hit all-time lows of $0.80 per share fueled by an aggressive short position that has incased its position to well over 25 million shares as off-exchange volume rises significantly. There is also an additional 20 million shares that came into the market, most likely from the Esousa Holdings, Acuitas Capital $90 million SPA which is convertible into common stock. 

#muln $muln @chacha72kobe4er @FinJourney @Businesssdad

Message from Lawrence Hardge

News coming between Friday and Monday pic.twitter.com/vmDyCfaLYc

— Valen Tina I (@pima_77) May 24, 2023

While Mullen has seen significant declines in recent days the stock is heading for a major reversal northbound as it has done many times in the past. For example; on February 24, 2022 after months of downward pressure Mullen reversed off $0.52 ($13 post-split) and rocketed up to a high of $4.16 ($104) post-split for a 900% run in 3 weeks. At current market valuation of about $140 million, Mullen is trading as if the Company will fail, at a fraction of the billion-dollar valuations other EV Company’s trade at, some of whom are also pre-production. Far from failing however, Mullen is thriving, as of April 30, 2023, the Company had approximately $116.1 million in cash available for operations and investment and they have another $45 million coming from Esousa Holdings, Acuitas Capital on July 12, plenty of money to enter into mass production of the M3 in Tunica starting in July. 

Mullens planned entry into production of the M3 in Tunica will fundamentally transform the Company and the market will be forced to reevaluate Mullen. The Company is well positioned to enter into mass production with an estimated $160 million war chest. According to Mullen they recently completed transferring commercial vehicle equipment from Indiana to Tunica and they have also commissioned an e-coat and paint facility for readiness to paint early prototypes as well as installed fiber optics, new servers and security systems to support volume manufacturing. Mullen has also invested in automated guided vehicles to transport vehicles through plant, installation of robots, water test booth and end-of-line diagnostics. The Company has hired 35 additional plant staff to begin production and anticipates deliveries and revenue from the Class 3 truck in August and September 2023.   

$MULN #MULN …. No One ☝️ is FORCING You To BELIEVE!!! YOU Have A CHOICE!!! Use Your Own JUDGMENT!!! And I Made Mine… How about You??? 💪💪💪♥️👵🎯👀⏰ pic.twitter.com/rtJulllaje

— maliburum67 (@malibu_rum67) May 21, 2023

As we have reported on numerous times in the past, both Mullen and Lawrence Hardge are on the cutting edge of battery technology. Recently they formed a new subsidiary, MAEO that is 51% owned by Mullen, and 49% owed by Mr. Hardge’s Company EV Technologies which holds Mr. Hardge’s revolutionary battery technology Energy Management Module EMM that according to Mullen’s own testing dramatically increases the efficiency and driving range of any current EV battery. Mullen has reported numerous times that the Company’s Class 1 EV Cargo Van at its Troy, Michigan, facility showed a 75% increase in range for the 42-kWh lithium-ion battery pack, which would be a calculated EPA estimated range of 186 miles. Vehicle testing of a high-volume OEM electric vehicle by Element also resulted in a calculated increase in range from 269 to 431 miles, representing a 60% increase in efficiency. Mullen plans to integrate the EMM technology on all Mullen commercial and consumer vehicle programs.  

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Recently Mullen announced the $680,000 contract to install 40 Chevy Bolts on the D.C. city government’s vehicle fleet with the District of Columbia, Washington, D.C., EV Technologies’ team and Mullen engineers were onsite in DC earlier this month to install the EMM units. 

$MULN #MULN …. Are You Guys Ready??? … Coz I am READY… Tell Me Now…. Tell Me Now Please!!! 💪💪💪♥️👵👀🔥🫠🤔🤩🏫🚗🚚⏰ pic.twitter.com/5Mmp64ZapM

— maliburum67 (@malibu_rum67) May 18, 2023

David Michery has positioned Mullen to be a leader in the EV battery space starting with the acquisition of CODA who was an EV battery innovator for years back in the early Tesla days giving them a significant advantage. Currently Mullen has 2 facilities in Monrovia and in Detroit 100% focused on EV battery technology and Mullen engineers have already created solid-state polymer batteries that are 100% resistant to fire and when installed in the Company’s FIVE RS on an 800-volt architecture, the car has 1,100 horsepower and goes from 0 to 60 in 1.7 seconds. Mullen Lithium-Sulfur batteries use the same manufacturing equipment as Lithium-Ion, but with simpler steps and a smaller factory footprint, resulting in less than half the cost to manufacture. Mullen is actively developing the next generation of electric vehicle batteries, including advanced technology like Lithium-Sulfur and Solid State. 

Like Mullen, Lawrence Hardge has been a battery innovator all his life growing up in his hometown Vicksburg, Mississippi. He currently holds over 120 intellectual prototypes as well as numerous patents and trademarks and some of his previous inventions such as the Knock Out 360 Fire Extinguisher has been featured by mainstream media and was sold on national TV infomercials. It is important to note that Mr. Hardge was successful in his own right long before the $5 million deal with Mullen. Mr. Hardge has been focused on giving back to his community and recently purchased a building in downtown Vicksburg. 

#MULN $MULN @DavidMichery updates on the share Intel investigation? Please. This is getting more ridiculous by the day! Time to stop with the " Mullen news.." and interact with your loyal holders. @Mullen_USA @bollingermotors #MULNARMY pic.twitter.com/geTgFq0rYQ

— David Zilkie (@DZilkie) May 23, 2023

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Mullen Automotive is a Southern California-based EV automaker currently set to enter mass production of its M3 van in Tunica, Mississippi starting in July. The Company is led by experienced dealmaker David Michery who made millions in Hollywood on Baywatch which became a number 1 show and as a Music producer. As CEO of Mullen, he has quickly expanded the Company through the acquisitions of CODA, ELMS, and Bollinger acquiring 2 vehicle manufacturing facilities in Mississippi and Indiana as well as the 2 facilities in Monrovia and in Detroit 100% focused on EV battery technology. Mullen has already received $279 million in purchase orders for Mullen Class 1 and Class 3 EV Vans and Trucks from Randy Marion Automotive Group. Mullen has a lot of irons in the fire here including the Menzies pilot program for the M1 vans at LAX, the I-Go commercial EV’s in Europe as well as the deal with Rapid Response Defense Systems (RRDS), a major government contractor to fast-track U.S. Federal Government opportunities for potential large-scale vehicle fleet orders just to name a few. While Mullen may have 25 million shorts hoping the Company will fail, they do have an enormous base of investors as well as over 200 institutional funds betting Mullen will be a big winner.  We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.

Mullen Automotive Inc (NASDAQ: MULN) – On Friday Mullen reversed off $1.01 all-time lows and while the move may not have seemed significant at the time, Friday’s reversal could catapult MULN northbound from here this coming week. The $1 bounce is legendary in small caps circles because it happens so frequently and Mullen is the perfect candidate; let me explain why. Mullen stock has a long, long history of bouncing off resistance levels; just over the past year and a half it made two such moves. On February 24, 2022 after months of downward pressure Mullen reversed off $0.52 ($13 post-split) and rocketed up to a high of $4.16 ($104) post-split for a 900% run in 3 weeks. More recently in October of last year, Mullen moved 300% in a matter of days when it bounced off $0.20 ($5 post-split) and ran to $0.60 + ($15 post-split).   

Mullen has a long history of bouncing off important resistance levels and the timing could not be better for a major reversal northbound from here. Shorts failed to get the price under $1 last week before Mullen regained its compliance keeping it on the Nasdaq and the Russel. While some may not see the significance of this, it was one of the shorts main talking points and they failed completely. They launched another attack at the end of the week tripping the SEC’s short sale circuit breaker and making it onto the SSR list. On Friday the shorts managed to get it to an all-time low of $1.01 before Mullen began reversing northbound into the close; a very positive indicator for the coming week.  We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

There are a number of other factors that also suggest MULN is not going any lower; at current price levels Mullen trades at a market valuation of just over $150 million. As we have reported before there are pink sheet Company’s whose corporate offices may or may not exist that trade at higher valuations than that. While EV stocks in general have seen massive declines since their heyday in 2021, most of Mullens competitors still trade at multibillion dollar market valuations including some who are pre-production. Mullen currently represents the highest reward/risk of them all as the Company prepares to go into mass production, the potential upside is significant. Especially as the EV market heats up again, and it’s only a matter of time before it does.   

$MULN #MULN new hire 🚨 Looks like B1/B2 is getting accelerated and Five getting push out. Sales Director Consumer Product Line – "Lead consumer vehicle (B1 + B2) product line development and re-launch." The Chief Engineer role has already been filled and Mishawaka is ready pic.twitter.com/rv3kDUjwx4

— ChaCha 🏦🔋🏕💦⚡️🚚1️⃣🚗5️⃣⚡️7️⃣🇰🇷🇺🇸🏈🏀🍣 (@chacha72kobe4er) May 19, 2023

After the recent acquisition of Bolinger, David Michery prioritized the production of the B1 SUV and the B2 pickup and recent events suggest that B1/B2 production is being accelerated. Bollinger made a huge splash when it first unveiled its B1 and B2 class 1 EV trucks at the LA auto show in 2019 revealing at the time that the B1 and B2 had been drawing interest from several world governments for military service. Both the B1 and B2 are stunning EVs that scream ruggedness and utility, with all kinds of neat features like fold-up rear windows that expand the amount of storage and tons of locked storage spaces. The flagship feature is the pass-through that allows the truck to carry a sizable number of long boards stored from the frunk, through the passenger compartment, and out to the rear of the vehicle. The layout is reminiscent of the original Hummer, with tons of lateral space that feels more like a small room than a truck cabin.   

Mullen news… https://t.co/zA8Zw2Yo3y

— David Michery (@DavidMichery) May 20, 2023

Both the B1 and the B2 pickup come equipped with a dual motor powertrain that generates 614 horsepower and 688 lb-feet of torque. They go from 0 to 60 in 4.5 second and have a 7,500-towing capability. People were so impressed with the B1 and the B2 when they were first unveiled  that the story was picked up by mainstream media and Bollinger got tons of publicity. Even Jay Leno was driving a Bollinger around on his show. All this massive publicity resulted in the Bollinger getting nearly 50,000 pre orders for the B1 and B2 valued at around $6 billion ($125k per vehicle). This number is not just coming from Bollinger; it’s been confirmed by multiple reliable media sources and when Mullen acquired Bollinger Motors in September of last year, they confirmed in the press releases that Bollinger brings Mullen nearly 50,000 reservations previously taken for the B1 and B2 sport utility vehicles.  

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Class 3 has arrived! Hardge said they will only put out news if it is a FACT! $MULN @chacha72kobe4er
We need to chill with the phone calls & traffic on Randy’s lot if we are not buying. He is pretty fed up with investors now! pic.twitter.com/dMFWw9iesF

— Dish (@Dish11808064) May 16, 2023

In the past Mullen certainly diluted the stock and this remains one of the shorts main talking points however, Mullen diluted to build the Company into what it is today. Michery was able to acquire CODA, a Company once valued at well over $300 million for pennies on the dollar, cementing Mullen as a leader in EV battery technology currently with two facilities in Monrovia and Detroit dedicated 100% to advancing the Company’s lithium-ion battery packs. He acquired electric last mile solution, a Company that went public in a $1.4 billion spac deal, giving Mullen the Hummer manufacturing facility in Indiana which was retrofitted to manufacture 100,000 Hummers before Mullen took it over. Mullen also acquired its Tunica Mississippi manufacturing facility where they are currently building out a 1.2 million square ft expansion. 

While the market may value Mullen as if the Company is dead that could not be farther from the truth; Mullen is thriving with close to $100 million in cash in the treasury and is currently entering mass production. The Company’s strategy of assembling vehicles for offshore manufacturers to produce revenue and fund its advance has been a striking success. Mullen has already received $279 million in purchase orders from Randy Marion Automotive for its Class 1 and 3 trucks. Mullen currently has many irons in the fire; the Menzies pilot program for the M1 vans at LAX, I-Go commercial EV’s in Europe, the $680,000 contact with the DC government and Lawrence’s $10 billion Saudi deal which is also currently heating up just to name a few. 

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Mullen Automotivei is a Southern California-based automotive company building the next generation of electric vehicles (EVs) that will be manufactured in two Company-owned United States-based assembly plants in Mississippi and Indiana. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen Commercial Class 1 and 3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. The Company has enormous support among retail investors as well as over 212 institutional investors led by Blackrock and Vanguard. Mullen also has a deal with Rapid Response Defense Systems (RRDS), a major government contractor to fast-track U.S. Federal Government opportunities for potential large-scale vehicle fleet orders. We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.

Mullen Automotive Inc (NASDAQ: MULN) – Mr. Lawrence Hardge is back on Facebook after a brief hiatus stating that there will be multiple deals coming out of the Middle East this month. In addition, some major announcements with a major international automotive company as well in another region of the world. Mr. Hardge previously stated there will be a big deal announced during the month of May.   

Mr. Hardge has spoken frequently about the $10 billion deal with Saudi Arabia for some time. According to Mr. Hardge the major details of the Saudi deal have already been worked out and at this point they are negotiating territories. Mr. Hardge has also stated the deal is much bigger than just $10 billion and could include getting MAEO listed on the Saudi stock exchange. The deal would also include an EV battery technology manufacturing facility in the US under the 51% Mullen owned MAEO subsidiary. We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

The timing could not be better for Mullen to announce multiple deals coming out of the middle east. The Mullen short position (over 24 million shares) has been aggressive in recent days managing to push MULN to an all-time low of $1.01, several days after the Company secured its listing on the Nasdaq and the Russel by keeping MULN stock price over $1 for 10 consecutive days. At $1 Mullen trades at just a $150 million market valuation and there seems to be significant support at this level as MULN has quickly retracted northbound and closed at $1.07.

$MULN #MULN … “I Am Putting All Of The Wondering To Rest Today… There Will Be MULTIPLE DEALS Coming Out Of The Middle East This Month”- LAWRENCE HARDGE..@hardge_law87778 👀 🇸🇦 🇺🇸 ⏰🏫🚗🚐📰🥂 pic.twitter.com/9Jqz6BKey6

— maliburum67 (@malibu_rum67) May 19, 2023

As we have written in previous articles Saudi Arabia is spending billions on EV technology in an effort to become an EV hub considering its close proximity to the source of the minerals needed to make EVs. Saudi Arabia has committed to spending $50 billion on EV’s over the next 10 years. They also recently launched their own EV called Ceer which plans to manufacture 328,000 electric cars per year, and scaling up to half a million EV vehicles per year. Lucid, whose biggest investors are Saudis also recently announced plans to build an electric vehicle (EV) assembly plant in Jeddah to manufacture 150,000 vehicles annually.     

Speculation is high that Mr. Hardge who stated his team is already in Saudi Arabia since last week is now heading to Saudi Arabia himself. There is a big event in Riyadh from May 21 to May 23 “the business development mission to Saudi Arabia: One of the World’s largest construction markets. Saudi Arabia, the fastest growing G20 economy in 2022 and the world’s 6th most competitive nation, has project opportunities estimated at over $1 trillion in sectors such as infrastructure, real estate, tourism, leisure, transportation, healthcare, energy, and utilities. Saudi Arabia’s newly launched Circular Carbon Economy National Program and the Saudi Green Initiative to achieve net zero emissions by 2060 will provide opportunities for renewable technologies and products to improve energy efficiency. Organized by the Saudi Contractors Authority, the FPF gathers contractors, public and private sector owners to learn about future projects presented in detail by Saudi government and private entities. Previous FPFs showcased 9,450 projects valued at $704 billion.   

$MULN God bless you Lawrence and your team. Can't wait to hear the details. https://t.co/neqY012s6b

— Timothy Elliott (@RedWolves1983) May 19, 2023

Mullen and Mr. Hardge recently formed a 51% Mullen owned subsidiary (MAEO) which holds Mr.  Hardge’s revolutionary battery technology Energy Management Module EMM that according to Mullen’s own testing dramatically increases the driving range and efficiency of any current EV battery. Mullen has stated in press releases that specific vehicle testing of a high-volume OEM electric vehicle by Element resulted in a calculated increase in range from 269 to 431 miles, which is a 60% increase in efficiency using the EMM technology. Mullen’s engineers also tested the technology on multiple occasions and according to the Company, Mullens Class 1 EV Cargo Van at its Troy, Michigan, facility showed a 75% increase in range for the 42-kWh lithium-ion battery pack, which would be a calculated EPA estimated range of 186 miles at a very low added cost. A U.S. provisional patent application has been filed covering the technology and Mullen plans to integrate the EMM technology on all Mullen commercial and consumer vehicle programs.  

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Mullen also recently announced a $680,000 contract awarded by the District of Columbia, Washington, D.C., to install the EMM technology on 40 Chevy Bolts within the D.C. city government’s vehicle fleet. Mullen and EV Technologies’ team of engineers were onsite in DC earlier this month to install the EMM units.

$MULN #MULN …. Are You Guys Ready??? … Coz I am READY… Tell Me Now…. Tell Me Now Please!!! 💪💪💪♥️👵👀🔥🫠🤔🤩🏫🚗🚚⏰ pic.twitter.com/5Mmp64ZapM

— maliburum67 (@malibu_rum67) May 18, 2023

As we have written in previous articles, Mullen and Lawrence Hardge are a match made in Heaven. Not content to just make cool EV’s, Mullen has positioned itself to be a leader in EV battery technology. Starting with the acquisition of CODA who was an OG battery innovator back when it was basically just them and Tesla, Mullen has already created solid-state polymer batteries that are 100% resistant to fire and when installed in the Company’s FIVE RS on an 800-volt architecture, the car has 1,100 horsepower and goes from 0 to 60 in 1.7 seconds. Mullen is also actively developing the next generation of electric vehicle batteries, including advanced technology like Lithium-Sulfur and Solid State. Mullen has 2 facilities in Monrovia and in Detroit 100% focused on EV battery technology. 

Mr. Hardge has been building EV batteries since he was a kid growing up in his hometown Vicksburg, Mississippi. He currently holds over 120 intellectual prototypes as well as numerous patents and trademarks and some of his previous inventions such as the Knock Out 360 Fire Extinguisher was featured by mainstream press and was sold on national TV infomercials. Mr. Hardge was successful in his own right long before the deal with Mullen and has been focused on giving back to his community in Vicksburg. Recently he bought a building in downtown Vicksburg. At one point he was going to launch another business out of the building, no word yet if that has happened.

$MULN "Representatives from my team have been in Saudi since last week Friday working on bringing the Saudi Deal to fruition."
"I represent facts. This is my story and I stand behind it."#MAEO #EMM #MULN https://t.co/HTKD65o415 pic.twitter.com/PRkvtHB6SX

— chadhos (@Chadhos1Chadhos) May 15, 2023

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Mullen Automotivei is a Southern California-based automotive company building the next generation of electric vehicles (EVs). The Company has grown quickly thanks to the deal making skills of its CEO David Michery who has quickly acquired 2 massive manufacturing facilities in Mississippi and Indiana. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. Mullen has already received $279 million in purchase orders for Mullen Class 1 and Class 3 EV Vans and Trucks from Randy Marion Automotive Group. Mullen also has a deal with Rapid Response Defense Systems (RRDS), a major government contractor to fast-track U.S. Federal Government opportunities for potential large-scale vehicle fleet orders.  The Mullen ONE is the first EV cargo van for sale in the U.S. market in the Class 1 commercial vehicle segment and is perfectly posotioned for major government contracts.  We will be updating on MULN when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.

Disclosure: we hold no position in MULN either long or short and we have not been compensated for this article.