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Mullen Automotive Inc (NASDAQ: MULN) has secured exceptional sales, distribution, and branding legal rights to the new compact city shipping and delivery electrical auto, the I-GO, in select European marketplaces.
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The license is for Spain, France, Germany, U.K., and Ireland.
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The I-GO will be a part of Mullen’s recent commercial vehicle lineup, which involves Course 1 and 2 EV cargo vans.
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Also Read through: Mullen Automotive Acquires Property Of Bankrupt ELMS
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The Mullen I-GO, supposed for providers focusing on final mile deliveries, is centered on a 96-inch wheelbase, 16.5-kWh battery pack, rear-wheel generate, and a suppress pounds of 1,753 lbs.
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With a range of 124 miles, the car is made to manage the quit/go and weave in/out normal of narrow European city streets.
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The I-GO will have a starting up selling price of $11,999 plus VAT and local transportation and will be retailed and serviced by neighborhood European distributors.
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“Effectively, this transaction supplies the Business income creating alternatives, encourages and extends the Company’s model into other countries though at the exact same time allowing for the Corporation to remain fully centered on its mission of manufacturing its lineup of electric autos in the United states,” claimed David Michery, CEO and chairman of Mullen Automotive.
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Also See: Mullen Automotive Hires Former GM Executive John Schwegman To Oversee EV Expansion
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Rate Action: MULN shares are trading higher by 27.6% at $.48 on the previous examine Monday.
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