Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle manufacturer, has announced that Volt Mobility from the United Arab Emirates (UAE) has signed a purchase agreement valued at approximately $210 million. Under the agreement, Volt will acquire 3000 EVs, consisting of the Class 1 cargo vans and the Class 3 trucks over the next 16 months. Mullen will receive an initial deposit of $3 million within 60 days, followed by further payments as the vehicles are delivered. 

Volt plans to lease these vehicles to corporate clients across the Middle East and Gulf States. 

The vehicles for Volt's order will be assembled at Mullen’s Commercial Vehicle Facility in Tunica, Mississippi, which can produce 26,000 vehicles annually with two production shifts.

David Michery, chairman and CEO of Mullen Automotive stated: “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 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. 

Shares of Mullen Automotive trade on the NASDAQ under the ticker symbol MULN.