GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Eliminates Some $13M in Debt

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has eliminated $13 million in company debt, resulting in a reduction of overall indebtedness from more than $30 million last year to less than $10 million currently. The company has been working to strengthen its financial balance sheet; it also recently eliminated some $13 million of company debt associated with Esousa Holdings LLC. According to the announcement, MULN believes this debt conversion will save more than $3.5 million in interest expenses. With less than $10 million left of outstanding indebtedness, Mullen is maintaining its strong financial health. “It’s been a great year for Mullen Automotive; we’ve made tremendous strides on all fronts, including significantly improving our financial health,” said Mullen Automotive CEO and chair David Michery in the press release. “Continuing our goal of being debt free is a main focus and provides us with a strong path forward for our EV innovation and programs, securing investor confidence and overall company health.”

To view the full press release, visit https://ibn.fm/fCKJQ

About Mullen Automotive Inc.

Mullen Automotive is a southern California-based automotive company building the next generation of premium electric vehicles (EVs) that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. The Mullen FIVE, the company’s first electric crossover, is slated for delivery in 2024 and features an award-winning design and patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. To learn more about the company, visit www.MullenUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to millions of social media followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 844-397-5787 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenCarStocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer

Green Car Stocks
Los Angeles, CA
www.GreenCarStocks.com
415.949.5050 Office
[email protected]

Green Car Stocks is part of the InvestorBrandNetwork.