Mullen Automotive fires off consolidation plan to lower costs [Seeking Alpha]
Mullen Automotive, Inc. (MULN)
Company Research
Source: Seeking Alpha
The electric vehicle maker said the actions were to align its budget with current market conditions. The actions are expected to drive an estimated $170M reduction in operating and investing cash flow expenses over the next 12 months compared to the prior fiscal year. Reductions in operating cash flows are estimated to be approximately $69M and investment spending is estimated to contract by $101M over the next 12 months when compared to the last fiscal year. Mullen Automotive ( MULN ) highlighted that it is making the changes to refine business operations and better align focus on the commercial EV segment that has the opportunity to drive near-term revenue for the company, including projected April sales of 100 commercial EVs by Randy Marion Automotive Group. The overall changes were said to be focused on long-term growth and are intended to reduce the company's costs during a time when the consumer EV sector and overall market have proved challenging. "Our refined business ope
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MULN
News
- Pritchard EV and Mobile Road Service Solutions Debut All Electric Mullen ONE Roadside Assistance Vehicle at American Towman Showcase in Las Vegas [Yahoo! Finance]Yahoo! Finance
- Pritchard EV and Mobile Road Service Solutions Debut All Electric Mullen ONE Roadside Assistance Vehicle at American Towman Showcase in Las Vegas [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Pritchard EV and Mobile Road Service Solutions Debut All Electric Mullen ONE Roadside Assistance Vehicle at American Towman Showcase in Las VegasGlobeNewswire
- Mullen Adds One of the Largest US Commercial Dealers, Pritchard EV, to Dealer Network [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Mullen Adds One of the Largest US Commercial Dealers, Pritchard EV, to Dealer Network [Yahoo! Finance]Yahoo! Finance
MULN
Sec Filings
- 4/29/24 - Form 8-K
- 4/8/24 - Form 8-K
- 3/13/24 - Form 8-K
- MULN's page on the SEC website