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      MULN Stock Is Rising In Pre-Market Session, Why?

      By Fahim Awan

      Published on

      July 26, 2023

      1:45 PM UTC

      MULN Stock Is Rising In Pre-Market Session, Why?

      Mullen Automotive, Inc. (NASD: MULN) saw a promising start in premarket trading with shares rising by over 2% to reach $1.08.

      This positive momentum comes after a recent setback, where Mullen stock experienced a decline of -3.70%, closing the previous Tuesday session at $0.13.

      Today, Mullen (MULN) made an important announcement regarding its partner, Bollinger Motors. The latter received a significant boost for its operations in the form of final approval from the state of Michigan.

      The approval grants Bollinger Motors a substantial $3 million to foster job creation within the state. The Michigan Strategic Fund Board played a crucial role in this unanimous decision, sanctioning the incentive through the Michigan Business Development Program.

      Bollinger Motors is geared up for growth and is primarily focused on expanding its operational capacity as it approaches the start of production.

      The $3 million grant will be disbursed to the company based on specific job creation milestones to be achieved over the next five years.

      Additionally, the award also includes access to an estimated $2 million in talent services and training support through Oakland County Michigan Works!

      This recent award serves as a testament to Mullen’s commitment to the region and its efforts to strengthen partnerships with local entities.

      Previous announcements, including collaborations with Our Next Energy and Roush Industries in Michigan, underscore the company’s dedication to the area’s economic development and job creation.

      Furthermore, Mullen also revealed a groundbreaking pilot program involving its Mullen ONE Class 1 EV Cargo Vans and Mullen CAMPUS Delivery Utility Vehicles.

      This program will be carried out in collaboration with the Shoshoni Native American Tribe of Northern California and Nevada.

      The aim is to serve Nations Distribution located on Harrah’s Northern California Resort & Casino property.

      The partnership between Mullen and the Shoshoni tribe marks a significant stride towards a greener future, serving as an exemplary model for other organizations and communities.

      The program involves evaluating the Mullen Class 1 cargo vans and campus EVs in various use cases across Harrah’s daily operations.

      Beyond economic opportunities, the collaboration also fosters community engagement and aligns with the tribe’s global efforts to combat climate change by embracing clean energy alternatives.

      Through the utilization of the Mullen ONE and Mullen CAMPUS EVs, the Shoshoni tribe showcases its dedication to sustainability and environmental consciousness.

      This venture stands as a testament by Mullen (MULN) to the power of cooperation between businesses and communities to drive positive change in the world.

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