Mullen Automotive INC.: management transactions · United States · SEC (Form 4)

About Mullen Automotive INC.

Mullen Automotive Inc. is a United States-based electric vehicle company listed on the NASDAQ market in the United States. The business was originally formed through a series of corporate combinations and asset acquisitions tied to electric mobility, with roots going back to 2014 through Mullen Technologies and a later reverse-merger transaction that brought the company to the public market under the MULN ticker in November 2021. Over time, Mullen’s strategy has shifted from a broad EV ambition spanning consumer and performance vehicles toward a sharper focus on commercial electric vehicles and fleet-oriented applications. Today, the company’s operating model is built mainly around two brands/platforms: Mullen Commercial and Bollinger Motors. Mullen Commercial has focused on light and medium-duty electric vehicles, including the Mullen ONE Class 1 cargo van and the Mullen THREE Class 3 cab chassis truck. These products are positioned for fleet operators, last-mile delivery, municipal uses, and vocational applications where uptime, serviceability, and total cost of ownership matter more than consumer branding. Bollinger Motors, which became part of Mullen’s group, expands the portfolio into heavier commercial segments, notably with the Bollinger B4 Class 4 chassis cab, a vehicle designed with upfitter and fleet input for commercial and specialty-use customers. The company emphasizes U.S.-based manufacturing and operations, with its commercial go-to-market strategy centered on the domestic American market rather than international expansion. From a competitive standpoint, Mullen operates in a crowded and challenging industry. It competes against legacy automakers electrifying their commercial lineups, as well as specialist EV truck and van players. Its stated differentiation lies in purpose-built fleet vehicles, a dealer and service network, and regulatory certification in the United States, which are critical for commercial sales. In practical terms, the company is trying to build a foothold in a segment where fleet customers value product readiness, support infrastructure, and reliability more than consumer hype. Recent corporate milestones have centered on Bollinger’s commercial launch cadence. The company announced the start of B4 production in September 2024, followed by initial deliveries and early commercial sales. Mullen has also highlighted customer orders, dealer and service network expansion, and ongoing commercialization efforts across its commercial EV portfolio. For investors, the key takeaway is that Mullen remains a high-risk, highly speculative equity story: execution risk is significant, financing needs have historically been material, and the stock has been extremely volatile. As a result, the investment case depends less on headline announcements and more on whether the company can translate its product pipeline into repeatable revenue and sustainable industrial scale.