Veteran EV startup Mullen Automotive is touting a manufacturing milestone in the present day because it has formally begun assembling its Mullen THREE Class 3 electrical vehicles. With manufacturing now underway in Mississippi, Mullen shared its timeline for buyer deliveries along with annual output targets.

Mullen Automotive ($MULN) is a Southern California-based EV startup based in 2014 that’s approaching a 10-year journey to ship reasonably priced EVs constructed completely on US soil. Regardless of coming shut twice, the corporate has but to ship a passenger EV to market.

This resulted in a 2020 merger through which Mullen pivoted its enterprise technique towards its personal bespoke EV mannequin – the FIVE crossover SUV. The startup turned some heads in September 2022 when it claimed a majority stake in Bollinger Motors’ business EV enterprise, vowing to resurrect the latter’s ill-fated B1 and B2 electrical vehicles into manufacturing as properly.

Simply over a month later, Mullen Automotive acquired one other EV startup, Electrical Final Mile Options (ELMs) and all its property, together with a 650,000-square-foot manufacturing facility in Indiana. Whereas Mullen continues to develop passenger EVs beneath its namesake and Bollinger manufacturers, its first automobile to succeed in scaled manufacturing can be within the business house – the Class 3 Mullen THREE.

Mullen reaches manufacturing of the THREE EV truck

Mullen Automotive shared particulars of its lively meeting strains in a press launch in the present day, relaying that THREE manufacturing is underway and can steadily ramp up from September by way of December of this yr. Per Mullen chairman and CEO David Michery:

I’m proud to announce that our Class 3 automobile line is now in manufacturing mode at our Tunica facility. Our staff has been working seven days per week, day and evening, getting this plant reconfigured and prepared for Class 3 manufacturing.

Mullen’s Tunica facility sits upon greater than 100 acres of Mississippi land, providing a manufacturing footprint of over 120,000 sq. ft. This particular location can be devoted to the meeting of the corporate’s Class 1 to three business EVs. When totally ramped later this yr, Mullen anticipates a manufacturing capability of three,000 Class 3 EVs per yr.

The Mullen THREE begins at an MSRP of $68,500 and, in keeping with its makers, ought to qualify for as much as $7,500 in federal tax incentives for US clients. Thus far, Mullen says it has orders for over 1,250 THREE EVs, equating to $79 million in buy orders, ought to all of them come to fruition.

With manufacturing now underway, Mullen Automotive says the Class 3 EV deliveries ought to start this month. Right here’s a better take a look at the Mullen THREE: