Mullen Automotive Inc MULN Shares traded higher on Monday after the company announced it had secured exclusive sales, distribution and branding rights for its I-GO vehicle.
The Mullen I-GO was designed as a last mile delivery vehicle. The I-GO has been fully certified for sale in select European markets and will have a starting price of $11,999. It is distributed and serviced through local European distributors.
Related link: Mullen Automotive steps up after securing sales license for I-GO EV in Europe
“Essentially, this transaction provides the Company with revenue generation opportunities, promotes and expands the Company’s brand into other countries, while allowing the Company to fully focus on its mission to manufacture its electric vehicle lineup in the United States,” said David MicheryChairman and CEO of Mullen.
Mullen is engaged in the manufacture of electric vehicles and energy solutions.
MULN Price Promotion: Mullen has a 52-week high of $5.86 and a 52-week low of 21 cents.
According to it, the stock is up 32% to 50 cents at the time of publication Gasoline Pro.
Photo: courtesy of Mullen.
