Mullen Automotive Inc (NASDAQ:MULN) announced that it will begin immediately accepting cryptocurrency as a form of payment for its commercial electric vehicles, including Bitcoin and the Trump meme coin.
The company said it is also looking into accepting additional types of crypto, including other popular meme and stablecoins.
Crypto will be accepted as a payment method for Mullen’s entire EV lineup, including the Mullen ONE, Class 1 EV cargo van, and the Mullen THREE, Class 3 EV cab chassis truck, which is purpose-built to meet the demands of urban last-mile delivery. It will also be accepted for purchases of Bollinger vehicles.
“The increasing acceptance of cryptocurrency as a form of payment expands Mullen’s ability to deliver its product to a broader audience at the commercial and consumer levels,” Mullen CEO David Michery said in a statement.
Shares of Mullen Automotive initially rose on the announcement but had reversed course by the early afternoon on Wednesday, down 10.3% at $0.91.