Mullen Automotive (MULN) and Randy Marion Deliver First Class 1 EV Cargo Vans to MGT Lease Company in North Carolina

March 31, 2023 8:01 AM EDT

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Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces that class 1 EV cargo vans have been delivered to MGT Company (“MGT”) in Highpoint, North Carolina, with the vehicle order fulfilled by Randy Marion Automotive Group.

Mullen is proud to announce MGT as one of its first commercial EV fleet customers. MGT is a growing commercial vehicle sales and leasing company with annual revenue of over $70 million in 2022 and $100 million projected for 2023. MGT’s primary customer base focuses on last mile segments, such as package delivery and retail, and vocations such as plumbing and electrician. MGT currently provides commercial vehicle sales and leasing across all major OEM brands, with focus on class 1-4 commercial vehicles.

“Mullen’s class 1 is a perfect entry point for us and working with the Company. The class 1 segment no longer has internal combustion engine options from the major OEM brands and certainly does not have any class 1 EV options. One of the biggest opportunities we see is the class 3 cab-chassis segment, with the potential to upfit and offer unlimited options for commercial customers,” said Thomas Gavlik, managing partner at MGT.

“MGT is a rapidly growing fleet leasing company that fully understands the commercial market and will help accelerate Mullen’s Fleet-First commercial vehicle approach,” said John Schwegman, Mullen’s chief commercial officer.

“We continue to see growing interest in our commercial EV offerings, and it’s great to have MGT as one of our first commercial customers,” said David Michery, CEO and chairman of Mullen Automotive. “We look forward to growing our relationship with MGT across our entire platform of commercial EV vehicles.”

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