Assembling The Mullen EV Is The Top Priority Right Now


  • MULN reports Q4 2022 results showing zero sales despite multiple announcements of vehicle orders.
  • The company is building assembly lines to assemble EV vehicles using Chinese EV parts and designs.
  • Balance sheet challenges will likely result in significant share dilution enough to send shares lower, regardless of the company’s progress in commercializing its vehicles.
  • Cash burn will likely increase as the company continues efforts to assemble its EV.

Battery Electric Car

MrIncredible/iStock via Getty Images

Investment Thesis

Last week, Mullen Automotive (NASDAQ:MULN) reported FQ1 2023 results for the three months that ended December 31, 2022, recording no revenue despite prior announcements of vehicle purchase orders that were supposed to be delivered

Mullen Automotive

Mullen Automotive


Mullen Automotive

Data by YCharts

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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