Mullen Automotive (MULN), an emerging electric vehicle (EV) manufacturer, saw its shares drop over 15% following its participation in the 2023 Government Fleet Event. The event marked Mullen’s debut appearance at the prestigious Government Fleet Expo and Conference (GFX), which took place from May 22 to May 25 in Dallas.
During the event, Mullen showcased its commercial EVs, the Mullen ONE and Mullen THREE, drawing attention from attendees. Representatives from Mullen engaged with attendees, discussing their fleet requirements and offering vehicle demos. The company’s technology, sales, and product marketing team members were present to address inquiries and provide valuable insights.
In a notable achievement, Mullen also joined the GFX’s Block Party Ride and Drive event on May 22nd. This event provided a hands-on experience, allowing attendees to test drive Mullen’s vehicles and interact with the company’s commercial team. The Block Party included a technology showcase, creating an engaging environment for potential customers.
On Friday, MULN stock nosedived -15.21% to $0.81, with a trading volume of 54,464,348 (54.46M). The market capitalization of MULN stands at $139.41.
California-based Mullen Automotive, Inc. is a company that specializes in producing and delivering electric vehicles. They offer a range of products, including electric cars for personal use and electric vehicles designed for commercial purposes. In addition, the company is involved in the development and provision of solid-state polymer battery technology.