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Cavel Group purchases Mullen CAMPUS EV cargo vans for electric motor dealers
Mullen CAMPUS EV Delivery Van
Initial order is for 20 CAMPUS EV cargo vans with regular scheduled orders to follow
BREA, Calif. , Jan. 30, 2024 (GLOBE NEWSWIRE) — IBN – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces a vehicle order with Grupo Cavel (“Cavel”) for the acquisition of Mullen CAMPUS EV vans for sale in the Dominican Republic and Caribbean markets through Cavel’s Electric Motors brokers. Mullen CAMPUS EV shipping vans are lately distributed through Mullen’s broker partner, Randy Marion Automotive Group (“Randy Marion” or “RMA”).
The first order of vehicles from Grupo Cavel includes 20 CAMPUS EV shipping vans, which will be sold by its Electric Motors group of dealers. Cavel plans to continue ongoing vehicle orders and will identify a sales and service distribution channel for Mullen’s line of advertising electric cars in the Dominican Republic and the Caribbean.
In addition to being a key automotive retail organization in the Dominican Republic, Grupo Cavel also has extensive relationships in vehicle sales, distribution, warranty and service in the Caribbean. The Dominican Republic is one of the leading countries in Latin America with the highest number of electric cars per capita.
“Our commitment to electric vehicles began with the introduction of the first electric motorcycles in the Dominican Republic, which grew into offering five brands through our Electric Motors dealerships. Today we made an important decision by adding Mullen’s commercial vehicles to our portfolio,” said Joel Tavarez, CEO of Grupo Cavel, the parent company of Electric Motors. “The Mullen EVs establish a new level of quality among commercial vehicles and we are confident they will excel in the Dominican Republic and the broader region.”
“This is a date for Mullen with a strong spouse at Grupo Cavel, opening the doors to a new market in the Dominican Republic and the Caribbean, where warm weather also provides a near-perfect operating environment for electric vehicles,” said David Michery, CEO and president of Mullen Automotive.
Mullen CAMPUS is a highly efficient electric van designed for low-speed use on enclosed campuses. The fully battery-powered vehicle (“BEV”) will be used for enclosed transportation on campus, offering dispatchability and operator convenience. The CAMPUS delivery van has the same DNA as the Mullen ONE, but has been specially designed to be an ideal delivery solution for micro-environments.
About MullenMullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric cars (“EVs”) that will be manufactured at its two U. S. -based assembly plants. UU. La Mullen EV development portfolio includes the Mullen FIVE EV. crossover, the Mullen-GO electric urban delivery advertising vehicle, the Mullen Commercial Class 1-3 and Bollinger Motors electric cars, including the B1 and B2 electric SUVs and the Class 4-6 advertising offerings. On September 7, 2022, Bollinger Motors, a majority-owned electric truck corporation through Mullen Automotive, and on December 1, 2022, Mullen finalized the acquisition of the assets of Electric Last Mile Solutions (“ELMS”), adding all intellectual property and a 650,000-square-foot site. facility in Mishawaka, Indiana.
To learn more about the Company, visit www.MullenUSA.com.
With a track record of more than forty-five years, Grupo Cavel is one of the largest corporate teams in the Dominican Republic, with operations in the Dominican Republic, the United States and Guyana and a broad portfolio ranging from equipment, construction materials, education, imports and entertainment. Grupo Cavel is a leader in electric mobility in the region and, in combination with its corporate Motores Eléctricas, has brought other brands and models to the local market, being a leader and pioneer.
To receive more information about the company, www. GrupoCavel. com.
Forward-Looking Statements Certain statements in this press release that are not past facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of past fact may be deemed to be forward-looking statements. Words like “continue”, “will”, “possibly”, “may also simply”, “deserve”, “expect”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate “,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve life-threatening threats and uncertainties that may also cause actual effects to differ materially from those expressed or implied by the forward-looking statements, many of which are sometimes beyond Mullen’s control and difficult to predict. Examples of such threats and uncertainties include, but are not limited to, whether Grupo Cavel (“Cavel”) will order additional cars in addition to the initial order placed and whether the CAMPUS EV delivery vans will be a success in the transportation markets. Dominican Republic and the Caribbean. Additional examples of such threats and uncertainties include, but are not limited to: (i) Mullen’s ability (or lack of ability) to release additional financing in sufficient amounts or on appropriate terms when necessary; (ii) Mullen’s ability to maintain existing contracts and discharge additional contracts with manufacturers, parts and other service providers similar to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any business acquisitions, responses or technologies; (v) unanticipated operating prices, transaction prices and actual or contingent liabilities; (vi) the ability to attract and retain qualified workers and key personnel; (vii) the negative effects of an increased festival on Mullen’s business; (viii) adjustments in government licensing and regulations that may also have an adverse effect on Mullen’s business; (ix) the threat that adjustments in customer habits will likely have an adverse effect on Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industrial and general business and economic conditions. Additional points that may also cause actual effects to differ materially from those expressed or implied by the forward-looking statements can be discovered in the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and the existing reports in form 8-. K filed through Mullen with the Securities and Exchange Commission. Mullen anticipates that upcoming events and developments may cause its plans, objectives and expectations to change. Mullen undertakes no obligation, and in particular disclaims any objective or obligation, to update any forward-looking statements, whether as a result of new developments, long-term developments or otherwise, unless expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.
Contact: Mullen Automotive, Inc. 1 (714) 613-1900 www. MullenUSA. com
Corporate Communications: InvestorBrandNetwork (IBN) Los Angeles, California www. InvestorBrandNetwork. com 310. 299. 1717 Office Editor@InvestorBrandNetwork. com
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Mullen CAMPUS EV Delivery Van