: Mullen Automotive stock falls 20% as first commercial electric truck rolls off assembly line


Mullen Automotive Inc. MULN, -22.44% said Tuesday that its first production vehicle, a Class 3 commercial electric truck, has rolled off its factory line in Mississippi. The company said it will be “gradually ramping up” production at the plant, with plans to eventually make 3,000 vehicles a year per shift at the facility, and add another shift in the future. To date, Mullen has received $79 million in purchase orders for the commercial truck from Randy Marion Automotive Group and MGT Lease Co., it said. Shares of Mullen tanked 20% Tuesday, and have dropped 99% in the year to date, contrasting with an advance of about 15% for the S&P 500 index. SPX, -0.33%

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleFA Center: If you think you can’t afford long-term healthcare, here are some options   
Next articleWhy you may hear big numbers like 19% inflation at Wednesday’s GOP debate


Please enter your comment!
Please enter your name here