Mullen Automotive (NASDAQ:MULN) stock is in focus after the electric vehicle (EV) company announced that it had entered into a pilot program for its Mullen ONE Class 1 EV cargo vans and Mullen CAMPUS delivery utility vehicles with the Shoshoni Native American Tribe of Northern California and Nevada. The vehicles will be piloted at Nations Distribution “located on the Harrah’s Northern California Resort & Casino property.”
“Our tribe’s vision to transition to electric-powered vehicles and sustain green initiatives is in line with the National EV Initiative for Tribal Nations,” said Chief William Bills, CEO and President of the Shoshoni tribe. “The collaboration between the Shoshoni tribe and Mullen aligns with the national initiative and serves as a powerful example for other tribal nations to follow. By showcasing the successful integration of electric vehicles into our operations, the Shoshoni tribe can inspire and encourage other tribes to explore sustainable transportation options.”
MULN Stock: Mullen Enters Into Pilot Program With Shoshoni Tribe
Mullen points out that its vehicles support the National EV Initiative for Tribal Nations. The program provides for the adoption of EVs and EV networks in Native communities and supports President Joe Biden’s goal of having EVs account for a 50% market share in U.S. automotive sales by 2030.
This isn’t the only pilot program that Mullen has entered into this year. Earlier this month, the company announced that it would pilot its CAMPUS EV with the New York Power Authority (NYPA). Mullen believes that its vehicle fits hand-in-hand with the NYPA’s 2030 vision of decarbonizing electricity.
In February, Mullen also disclosed that it had entered into a 60-day pilot program for its Class 1 EV cargo van with Menzies Aviation and Loop Global at the Los Angeles International airport. The vehicle was tested for use cases such as transporting employees to aircraft. During the program, which Mullen deemed as “successful,” two vans were driven for over 1,500 miles with “consistent performance with 100% uptime and zero maintenance issues.”
Menzies requested modifications to the van following the program, such as additional seating and windows. Mullen noted that Menzies was likely to order vans following the modifications, but there has been no official word thus far of any order.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
