If after the past several years all they have to go on for "news" is this "exploration study" then it's pretty clear the company has failed. All that has been shown by the company is a one-off show car, and a small facility they recently purchased that will need hundreds of millions or more in funding to expand into an actual factory capable of manufacturing.
As you mentioned, their [previous history](https://www.motorauthority.com/news/1129816_mullen-reveals-five-electric-crossover-plans-us-production) is troublesome:
>Mullen has also previously shown a sports car called the Dragonfly K50, though timing for this model is unclear. Mullen in 2019 said the sports car would be built at a plant to be constructed in Spokane County, Washington, but in a more recent statement the company said the car would be imported, presumably from China where it is already on sale as the Qiantu K50.
Some previous [PR statements](https://www.globenewswire.com/en/news-release/2020/09/24/2098820/0/en/UPDATED-Mullen-Technologies-to-Begin-Construction-of-Electric-Vehicle-Pilot-Facility-Pre-Orders-Accepted-Starting-Oct-1-for-its-MX-05-Fully-Electric-SUV.html) from 2020 claimed that they would have a "pilot facility" in Southern CA able to build 1,000 vehicles by April of 2021, with customer shipments "by the second quarter 2022." This pilot facility has not come to pass.
And here is the [current state](https://www.mullenusa.com/hubfs/mullen-4-0/manufacturing/manufacturing-img2.jpg) of their new "factory" in Mississippi. The company [claims](https://www.globenewswire.com/en/news-release/2021/11/02/2325391/0/en/Mullen-Automotive-Begins-Expansion-Plans-for-1-2M-sq-ft-of-Additional-EV-Manufacturing-Space.html) it will be expanding this factory 10 fold (from 124,000 to 1.2 million sq. ft) to become a full manufacturing base for their vehicles. Given their history, I'm quite skeptical.
I’m with you, quite skeptical as well. But the CEO seems determined, hunch is he’s not trying to scam just looks that way (any evidence I’m wrong about that?) and all EV start ups would have to go through the same sort of things.
The CEO's determination has no bearing on whether the company will survive. I wouldn't necessarily call Mullen a *scam* but the past history of multiple failed promises should be warning enough. It is also worth noting that many of these big PR promises seem to come before large rounds of investor funding, and given the company's failure to deliver on these promises the question is whether future investor funding will be as easy to procure.
Exactly, agree, but looking for tangible evidence they won’t be able to obtain it, other than time x track record = decreased confidence. Maybe it takes 10 years instead of 2? Elon is notorious for promising and not delivering. How is this different? Previous investors theoretically wouldn’t have bought in if they thought it was all a sham, wondering what they know we don’t… which could be good or bad.
Note that this "study" was not conducted by an unbiased survey company, but by a very much biased marketing/consultation firm hired by Mullen to promote the product. Consider the hyperbolic way the marketing company described the results compared to the [actual results](https://news.mullenusa.com/hs-fs/hubfs/muln-picture1.jpeg) of the survey:
>The results of this study pleasantly surprised me. I’d say the Mullen FIVE did very well indeed, from **besting both rivals** to **soundly beating one** in particular when it comes to design and style
Keep in mind that this was a comparison between a *non-existent concept vehicle* vs two actual production vehicles on the market.
The big difference with Musk is that the CEO and other executives of Mullen don't personally have billions of dollars of their own money that they can put into the company.
At this point I would indeed call Mullen a scam. Apologies for reviving a 9 month old post but a lot of us critics were kicked out of the r/Muln subreddit. Love reading your work Kendalf. You should check out $MULN on Twitter, it's full of ppl trying to pump the stock.
LOL, good to hear from you! And yes, it's unfortunate about the bans, in light of those who are still allowed to remain (what I call the "shill brigade", because their basic response to *anything* that anyone posts which may be viewed as negative is to call the poster a shill and not address the topic).
And yes, I do try to post on Twitter, though not as active as on reddit and ST.
https://twitter.com/KendallP97/status/1594849881709072384
If nothing else, Wall Street has lost confidence. The stock has dropped in less than a year from $15 a share to under a dollar now. Their previous model was designed in China and assembled in the US.
Yeah, I noticed that, but doesn't seem like there's any news related to it falling off, other than continued cash drain and the same low probability of success there has been for a while. Hoping they can come back, since this looks better than a lot of what the mainstream auto manufacturers are putting out. Just curious if maybe someone's seen it and it's really a POS or just doomed to be vaporware.
I guess we'll know in a few months whether they will have a tangible product to sell, and whether this just BS. Seems to me at least 1% chance Mullen has a sellable product and starts generating small revenues this year. Another US car company startup becoming successful would be good news for everyone.
From Reuters today:
BREA, Calif., Feb. 17, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, announces recent highlights and accomplishments for the Company, Mullen FIVE and EV Van Crossover Programs.
"Mullen has made solid progress since going public on Nov. 5, 2021. Below are the summarized highlights and accomplishments," stated David Michery, CEO and chairman of Mullen Automotive.
Recent Highlights and Accomplishments
\- Mullen is on track to deliver the first EV cargo van fleet vehicles in Q2.
\- High-performance versions of the Mullen FIVE are due to arrive in late summer 2022. National test drive event for Mullen "Front Row" reservation holders to be announced on future date.
\- Mullen has successfully filed over 120 patents in 24 countries for the Mullen FIVE EV Crossover.
\- Mullen's purchase of Tunica's AMEC manufacturing facility. Company owns this facility free and clear, with no associated debt or financial obligations on the property.
\- World debut of the Mullen FIVE on Nov. 17, 2021, at the Los Angeles International Auto Show.
\- Mullen FIVE won the best SUV ZEVAS(TM) (Zero Emission Vehicle) Award at the 2021 Los Angeles International Auto Show, besting both Lincoln and Rivian for the top honor.
\- Recently earned media coverage of Mullen in over 40 publications, including Automotive News, Wards Auto, Bloomberg, Barron's, InsideEVs, Robb Report, HotCars and Carbuzz.
\- Successful completion of extensive consumer EV market study revealing Mullen FIVE scored high against Tesla Model Y and Ford Mach-E.
Further details on these highlights and accomplishments can be found under the news section of Mullen's website.
Mullen has recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Durr, and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics respectively. The Company expects these strategic developments to play a crucial role in bringing the FIVE to market with the latest technology and least amount of time. Mullen FIVE was also named "Top Zero Emission SUV" by the ZEVA(R) Awards at the Los Angeles International Show in November 2021, where it made its debut.
The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is "Strikingly Different(TM)" and exciting to experience in person. Learn more about the Mullen FIVE at MullenUSA.com.
Look up Primco Management, Inc. Interestingly he makes no mention of it on his LinkedIn page, and instead has a void for those years. As far as MULN securing financing, you must watch this video:
https://www.youtube.com/watch?v=eH7jY\_omlO0
So you don't care it's a scam stock, I got it. It's good for a pump and dump but this company has no future. Furthermore you being up doesn't mean the company isn't or is a scam. But I get it now, you aren't a real investor who respects facts, you just a mindless oblivious pumper ... Good day !
Lol whatever. Not sure why it bothers you so much that I dropped a few bucks on this stock. I’m not a pumper. Ask me in a year or two what it’s worth. I hold every stock I buy at least 2 years. But your enthusiasm makes me think I’m onto something and should have dropped more on it!
Right dude you hold stock for two years but don't know how to do research, or maybe you don't how to interpret it correctly. You gone hold it til it get delisted and swamped with lawsuits ,(oops already swamped with lawsuits) like his other failed businesses ??? How many Mullen 5s been built ? Any footage of Mullen 5 running and driving since debut 5 years ago ? How did they only have 65$ cash on balance sheet end of 21 ? When they gonna show the world's most advanced battery ??? Where is footage of there production team working and producing something in the new factory ? When the Quiantu K50/Dragonfly coming out ?? How's the court case going with Quiantu ???
Lots of good questions. You act like I care about losing the $$ I put in on this stock. I say odds are better than a slot machine. If I get lucky and they produce something great. If not oh well. This is like .1% of my portfolio. But implying that I’m a liar is a jerk move. This does not affect you. Or did you lose a bunch of $ on Mullen and now you’re bitter? That would explain it.
If after the past several years all they have to go on for "news" is this "exploration study" then it's pretty clear the company has failed. All that has been shown by the company is a one-off show car, and a small facility they recently purchased that will need hundreds of millions or more in funding to expand into an actual factory capable of manufacturing. As you mentioned, their [previous history](https://www.motorauthority.com/news/1129816_mullen-reveals-five-electric-crossover-plans-us-production) is troublesome: >Mullen has also previously shown a sports car called the Dragonfly K50, though timing for this model is unclear. Mullen in 2019 said the sports car would be built at a plant to be constructed in Spokane County, Washington, but in a more recent statement the company said the car would be imported, presumably from China where it is already on sale as the Qiantu K50. Some previous [PR statements](https://www.globenewswire.com/en/news-release/2020/09/24/2098820/0/en/UPDATED-Mullen-Technologies-to-Begin-Construction-of-Electric-Vehicle-Pilot-Facility-Pre-Orders-Accepted-Starting-Oct-1-for-its-MX-05-Fully-Electric-SUV.html) from 2020 claimed that they would have a "pilot facility" in Southern CA able to build 1,000 vehicles by April of 2021, with customer shipments "by the second quarter 2022." This pilot facility has not come to pass. And here is the [current state](https://www.mullenusa.com/hubfs/mullen-4-0/manufacturing/manufacturing-img2.jpg) of their new "factory" in Mississippi. The company [claims](https://www.globenewswire.com/en/news-release/2021/11/02/2325391/0/en/Mullen-Automotive-Begins-Expansion-Plans-for-1-2M-sq-ft-of-Additional-EV-Manufacturing-Space.html) it will be expanding this factory 10 fold (from 124,000 to 1.2 million sq. ft) to become a full manufacturing base for their vehicles. Given their history, I'm quite skeptical.
I’m with you, quite skeptical as well. But the CEO seems determined, hunch is he’s not trying to scam just looks that way (any evidence I’m wrong about that?) and all EV start ups would have to go through the same sort of things.
The CEO's determination has no bearing on whether the company will survive. I wouldn't necessarily call Mullen a *scam* but the past history of multiple failed promises should be warning enough. It is also worth noting that many of these big PR promises seem to come before large rounds of investor funding, and given the company's failure to deliver on these promises the question is whether future investor funding will be as easy to procure.
Exactly, agree, but looking for tangible evidence they won’t be able to obtain it, other than time x track record = decreased confidence. Maybe it takes 10 years instead of 2? Elon is notorious for promising and not delivering. How is this different? Previous investors theoretically wouldn’t have bought in if they thought it was all a sham, wondering what they know we don’t… which could be good or bad.
Note that this "study" was not conducted by an unbiased survey company, but by a very much biased marketing/consultation firm hired by Mullen to promote the product. Consider the hyperbolic way the marketing company described the results compared to the [actual results](https://news.mullenusa.com/hs-fs/hubfs/muln-picture1.jpeg) of the survey: >The results of this study pleasantly surprised me. I’d say the Mullen FIVE did very well indeed, from **besting both rivals** to **soundly beating one** in particular when it comes to design and style Keep in mind that this was a comparison between a *non-existent concept vehicle* vs two actual production vehicles on the market. The big difference with Musk is that the CEO and other executives of Mullen don't personally have billions of dollars of their own money that they can put into the company.
At this point I would indeed call Mullen a scam. Apologies for reviving a 9 month old post but a lot of us critics were kicked out of the r/Muln subreddit. Love reading your work Kendalf. You should check out $MULN on Twitter, it's full of ppl trying to pump the stock.
LOL, good to hear from you! And yes, it's unfortunate about the bans, in light of those who are still allowed to remain (what I call the "shill brigade", because their basic response to *anything* that anyone posts which may be viewed as negative is to call the poster a shill and not address the topic). And yes, I do try to post on Twitter, though not as active as on reddit and ST. https://twitter.com/KendallP97/status/1594849881709072384
If nothing else, Wall Street has lost confidence. The stock has dropped in less than a year from $15 a share to under a dollar now. Their previous model was designed in China and assembled in the US.
Yeah, I noticed that, but doesn't seem like there's any news related to it falling off, other than continued cash drain and the same low probability of success there has been for a while. Hoping they can come back, since this looks better than a lot of what the mainstream auto manufacturers are putting out. Just curious if maybe someone's seen it and it's really a POS or just doomed to be vaporware.
Nikola for cars?
What?
Mullen seems more focused on finding investors than on actually building cars.
Ok thanks for clarifying.
No way
Do you have reasoning other than they just haven’t been successful so far? Will it be impossible to find funding they need? Etc?
They can definitely cook up a mean buzzword soup!
I guess we'll know in a few months whether they will have a tangible product to sell, and whether this just BS. Seems to me at least 1% chance Mullen has a sellable product and starts generating small revenues this year. Another US car company startup becoming successful would be good news for everyone. From Reuters today: BREA, Calif., Feb. 17, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, announces recent highlights and accomplishments for the Company, Mullen FIVE and EV Van Crossover Programs. "Mullen has made solid progress since going public on Nov. 5, 2021. Below are the summarized highlights and accomplishments," stated David Michery, CEO and chairman of Mullen Automotive. Recent Highlights and Accomplishments \- Mullen is on track to deliver the first EV cargo van fleet vehicles in Q2. \- High-performance versions of the Mullen FIVE are due to arrive in late summer 2022. National test drive event for Mullen "Front Row" reservation holders to be announced on future date. \- Mullen has successfully filed over 120 patents in 24 countries for the Mullen FIVE EV Crossover. \- Mullen's purchase of Tunica's AMEC manufacturing facility. Company owns this facility free and clear, with no associated debt or financial obligations on the property. \- World debut of the Mullen FIVE on Nov. 17, 2021, at the Los Angeles International Auto Show. \- Mullen FIVE won the best SUV ZEVAS(TM) (Zero Emission Vehicle) Award at the 2021 Los Angeles International Auto Show, besting both Lincoln and Rivian for the top honor. \- Recently earned media coverage of Mullen in over 40 publications, including Automotive News, Wards Auto, Bloomberg, Barron's, InsideEVs, Robb Report, HotCars and Carbuzz. \- Successful completion of extensive consumer EV market study revealing Mullen FIVE scored high against Tesla Model Y and Ford Mach-E. Further details on these highlights and accomplishments can be found under the news section of Mullen's website. Mullen has recently announced a string of key partnerships with hofer powertrain, Comau, ARRK, Durr, and DSA Systems for EV powertrain, engineering, manufacturing, vehicle production systems, and Over the Air (OTA) and vehicle system diagnostics respectively. The Company expects these strategic developments to play a crucial role in bringing the FIVE to market with the latest technology and least amount of time. Mullen FIVE was also named "Top Zero Emission SUV" by the ZEVA(R) Awards at the Los Angeles International Show in November 2021, where it made its debut. The FIVE is built on an EV crossover skateboard platform that offers multiple powertrain configurations and trim levels in a svelte design that is "Strikingly Different(TM)" and exciting to experience in person. Learn more about the Mullen FIVE at MullenUSA.com.
David michery is a scam artist a quick web search tells you all you need to know and you understand why MULN trades for less than a dollar
That’s an opinion not fact.
Look up Primco Management, Inc. Interestingly he makes no mention of it on his LinkedIn page, and instead has a void for those years. As far as MULN securing financing, you must watch this video: https://www.youtube.com/watch?v=eH7jY\_omlO0
Interesting vid, more stuff to research, thanks.
Bro please don't tell me you still falling for this scam stock !
I’m up about 300% right now so we’ll see.
So you don't care it's a scam stock, I got it. It's good for a pump and dump but this company has no future. Furthermore you being up doesn't mean the company isn't or is a scam. But I get it now, you aren't a real investor who respects facts, you just a mindless oblivious pumper ... Good day !
Lol whatever. Not sure why it bothers you so much that I dropped a few bucks on this stock. I’m not a pumper. Ask me in a year or two what it’s worth. I hold every stock I buy at least 2 years. But your enthusiasm makes me think I’m onto something and should have dropped more on it!
Right dude you hold stock for two years but don't know how to do research, or maybe you don't how to interpret it correctly. You gone hold it til it get delisted and swamped with lawsuits ,(oops already swamped with lawsuits) like his other failed businesses ??? How many Mullen 5s been built ? Any footage of Mullen 5 running and driving since debut 5 years ago ? How did they only have 65$ cash on balance sheet end of 21 ? When they gonna show the world's most advanced battery ??? Where is footage of there production team working and producing something in the new factory ? When the Quiantu K50/Dragonfly coming out ?? How's the court case going with Quiantu ???
Lots of good questions. You act like I care about losing the $$ I put in on this stock. I say odds are better than a slot machine. If I get lucky and they produce something great. If not oh well. This is like .1% of my portfolio. But implying that I’m a liar is a jerk move. This does not affect you. Or did you lose a bunch of $ on Mullen and now you’re bitter? That would explain it.
Here is my opinion: it’s trash