© Reuters. Mullen (MULN) announced 30-unit purchase order from Ireland’s Newgate Motor Group
California-based Mullen Automotive (NASDAQ:) announced Monday morning that the automaker has received a purchase order from Newgate Motor Group for 30 Mullen-GO commercial urban electric delivery vehicles.
Newgate is one of Ireland’s most recognized dealership groups and is the marketing, sales, distribution, and servicing agent for the Mullen-GO in Ireland and the United Kingdom.
“Newgate has generated great interest on the Mullen-GO to-date, and we are excited to kick off sales in Europe with them,” said David Michery, CEO and chairman of Mullen Automotive.
The 30-unit order marks Mullen’s inaugural vehicle sale in the European market, venturing beyond the borders of the United States. The booked order holds an estimated value of $321K and will likely be included in Mullen’s financial report for the current fiscal quarter. Mullen and Newgate had previously disclosed their intentions to produce and sell up to 500 vehicles annually.
“The feedback from the Irish automotive market has been positive in relation to the Mullen-GO. We see potential for this model and the Mullen brand. This decision reflects our commitment to the Newgate – Mullen partnership and zero-emission transport solutions,” said James Ring, general manager of Newgate Motor Group.
Shares of MULN are up 1.21% in mid-day trading on Monday.
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