Mullen to Deliver 3,000 EVs in $210M Deal

Mullen Automotive will sell 3,000 battery-electric vehicles, Class 1 vans and Class 3 cargo trucks, to Volt Mobility for $210 million. Within 60 days, Volt, located in the United Arab Emirates, will provide a $3-million deposit.

Mullen will begin shipping the first vehicles immediately and the remainder of the 3,000 vehicles will be delivered over the next 16 months.

Volt intends to lease these vehicles to its corporate customers based in the Middle East and Gulf States. Current Volt clients include UPS, DHL, and FedEx throughout the Gulf Cooperation Council (GCC) region, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).

Volt’s vehicle order will be assembled at Mullen’s commercial vehicle facility in Tunica, Mississippi. The facility can produce 20,000 Class 1 and 6,000 Class 3 vehicles annually with two production shifts.

Founded in 2020, Volt established itself as one of the largest and most influential commercial EV leasing companies in the region, Mullen said.

“At Volt, we don’t just follow trends; we set them. Our mission is clear: lead the transformation to sustainable, efficient and cutting-edge transportation,” said Sophia Nau, managing director and CFO for Volt Mobility.

Volt’s vehicle portfolio includes 17 models with focus on light-, medium-, and heavy-duty electric vehicles.

Volt leases vehicles to corporate customers, providing first-to-last-mile delivery for fast-moving goods and heavy-duty trucks for shuttling service across the region. It serves clients, including large transport businesses, under a long-term secured leasing model.

UAE Makes E-Mobility a Priority

The UAE has identified e-mobility as a priority policy area and is now seven years into an ambitious plan to decarbonize its infrastructure and energy production.

The Emirate’s Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050 seek to generate 100% power from clean energy sources by 2050. Furthermore, Dubai's Roads and Transport Authority (RTA) has rolled out a long-term strategy to migrate towards net-zero emission public transport by 2050.

“Volt is reshaping the way people and businesses move across the UAE and GCC,” said David Michery, CEO and chairman of Mullen Automotive. “This landmark agreement provides Mullen with exposure to leading global transportation companies and the opportunity for utilizing Mullen EVs across the UAE and other areas of the Middle East.”

Mullen’s Commercial Vehicle Lineup

Mullen’s commercial EV lineup, including models produced by its subsidiary Bollinger Motors, includes:

• Mullen One Class 1 EV cargo van
• Mullen Three Class 3 EV cab chassis truck
• Bollinger B4 Class 4 EV cab chassis trucks
• Bollinger B5 Class 5 EV cab chassis trucks

Mullen said its full lineup of commercial EVs is purpose-built to meet the demands of urban last-mile delivery, available for sale, and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency, and the California Air Resources Board (CARB) certifications, denoting strict adherence to clean air emissions standards.

The Bollinger B4 starts production on Sept. 16, with deliveries beginning in October 2024.