Mullen Automotive (MULN) stock has jumped 8.7% in Wednesday’s premarket to $0.2325 a day after the upstart EV maker saw shares surge by 10.8% on the back of signing its first dealership agreement in the United States.
This is coming after the partnership with Loop Global to market and sell charging infrastructure to corporations, municipalities and residential customers. The partnership involves the Mullen EV Charging Network Powered by Loop – a turnkey product that will provide both construction and upkeep of infrastructure that provides level 2 and level 3 DC fast charging. These could be built at public parks, retail parking lots or parking garages.
This partnership arrives just a day after Mullen announced a separate agreement. Randy Marion Automotive Group will become Mullen’s first US dealer partner.
That news pushed the stock up nearly 11%. Randy Marion will become Mullen’s partner specifically for its commercial EV vehicles. These include Mullen’s cargo van offerings and the class 4-6 chassis models it acquired from Bollinger Motors.
Mullen Technologies, Inc. is an American automotive and electric vehicle manufacturer based in Brea, California.