Mullen Automotive Inc (NASDAQ:MULN) shares gained almost 15% in early trading after it announced it has delivered 50 of its all-electric cargo vans to Randy Marion Automotive Group, a sale worth $1.68 million.
The Southern California-based carmaker said it expects to ship a total of 285 Mullen ONE cargo vans within the next five business days to Randy Marion Automotive.
The vans were designed for last-mile delivery, offering best-in-class cargo volume, payload and turning diameter to easily navigate through urban areas such as residential streets, Mullen Automotive highlighted.
“We are proud to launch and scale multiple production lines to meet customer demands,” Mullen Automotive CEO David Michery said in a statement.
Randy Marion Automotive fleet vice president Brad Sigmon added: “The Mullen ONE is an extremely versatile offering and the diversity of interest ranges from delivery companies to municipal clients to small business operators.”
Shares of Mullen Automotive were up 14.9% at US$12.64 shortly after Thursday’s opening bell.