Mullen Automotive Inc. (NASDAQ: MULN) shares slid Thursday, as the electric vehicle manufacturer announces the purchase and delivery of the Mullen ONE, Class 1 EV cargo van to local government Orange County, North Carolina.
The vehicle will be deployed by Orange County’s Solid Waste Management Department, and the order will be fulfilled by National Auto Fleet Group (NAFG), an authorized Mullen dealer. Mullen Commercial EVs are now available for purchase on Sourcewell under NAFG’s Sourcewell Contract # 091521-NAF, which offers Class 1-3 electric vehicles to government agencies across the United States.
Nestled in the hills of the North Carolina Piedmont, Orange County is located between the Research Triangle Park and the Triad cities of Greensboro, Winston-Salem, and High Point, and is home to more than 140,000 residents.
The county includes historic Hillsborough, the county seat; Chapel Hill, home to the University of North Carolina; and Carrboro and Mebane, former railroad and mill towns. This purchase from its Solid Waste Management Department supports Orange County’s Climate Action Plan, which aims to transition the county’s fleet to all-electric by 2025.
The Mullen ONE, Class 1 EV cargo van offers the versatility and efficiency necessary for the Solid Waste Management Department’s daily operations. Its zero-emission operation directly contributes to Orange County’s efforts to reduce its carbon footprint and achieve its electrification goals.
MULN shares gave back 80 cents, or 19.8%, to $3.24.
