Mullen Automotive and RRDS

Mullen Automotive and RRDS Step Closer to Customs Approval for Class 1 EV Cargo Van – Stock Rises

In a significant development today, Mullen Automotive Inc, an emerging player in the electric vehicle (EV) industry, along with partner Rapid Response Defense Systems (RRDS), announced the submission of responses for the final ruling and compliance stages of the US Customs and Border Protection (CBP) application pertaining to Mullen’s Class 1 EV cargo van. The joint effort signifies a crucial step forward for Mullen in establishing its presence in the rapidly expanding electric vehicle market.

The collaboration between Mullen Automotive and RRDS, initially unveiled in March 2023, saw RRDS selecting Mullen as the exclusive provider of Class 1 EV cargo vans. RRDS, a prominent federal contractor for small businesses, boasts an impressive track record of over 2,500 successful federal government delivery orders since 2014. Acting on behalf of Mullen, RRDS filed the Ruling Request Application, outlining the extensive transformations Mullen undertook to ensure compliance with U.S. Federal Motor Vehicle Safety Standards and Environmental Protection Agency regulations.

This transformation encompassed various aspects, including the design, testing, and validation of new safety systems such as airbags, sensors, control modules, rearview cameras, front bumper systems, wiring harnesses, and seating. Successfully completing this substantial transformative process positions the Mullen ONE as a U.S.-made end product.

The filing shines a spotlight on the Mullen ONE’s assembly process for the Class 1 EV cargo van, conducted at the company’s expansive 120,000 square feet production facility in Tunica, Mississippi. The facility boasts approximately 24 assembly stations dedicated to the Mullen ONE and an additional 16 stations for the Mullen Three EV low cab forward program. Currently employing 103 individuals, the Tunica location is a vital hub for Mullen Automotive, which collectively employs around 400 individuals nationwide.

Mullen’s filing also provides insight into the global sourcing strategy for the Mullen ONE EV cargo van, involving supply contracts with multiple Tier One and Tier Two OEM suppliers hailing from South Korea, Germany, Romania, China, Canada, and the U.S. As Mullen’s supply chain continues to evolve, the company is actively incorporating domestic suppliers and subcontractors to localize content, particularly as more EV components become integrated into the U.S. eco-system.

The positive developments surrounding Mullen Automotive and RRDS have not gone unnoticed in the financial markets, with Mullen’s stock witnessing an uptick in trading on Monday following the announcement.

At the time of this publication, Mullen Automotive Inc stock (MULN) has witnessed a surge.
Mullen Automotive Inc
Current Price: $0.18
Change : +0.01
Change (%): (3.26%)
Volume: 23.9M
Source: Tomorrow Events Market Data

Looking ahead, Mullen Automotive and RRDS are gearing up to showcase the Mullen ONE EV cargo van and participate in an electric vehicle ride event scheduled during the Fed Fleet conference in Washington, D.C., in the week of January 22, 2024. David Michery, CEO and chairman of Mullen Automotive, expressed optimism, stating, “Upon a successful ruling, Mullen will have demonstrated the commitment it has made to growing the EV market in the U.S. Along with that, I am proud to be able to say, ‘An American product, built in America by Americans.’” The outcome of the Customs and Border Protection application holds the potential to shape the trajectory of Mullen’s influence in the burgeoning electric vehicle sector.

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