Mullen Automotive

Mullen Automotive, Inc.

Company type	Public
Industry	Automotive, Electric vehicles
Founded	2014 (2014)
Founder	David Michery
Headquarters	Brea, California , United States
Area served	United States
Key people	David Michery (CEO)
Products	Electric vehicles (passenger and commercial), including Mullen Campus, Mullen One, Mullen Three, Mullen Go, Mullen GT series
Parent	Net Element, Inc. (via reverse merger)

Mullen Automotive, Inc. is a U.S.-based manufacturer specializing in electric vehicles, headquartered in Brea, California. The company focuses on producing both passenger and commercial electric vehicles, mainly by rebranding Chinese captive import models such as the Mullen Campus, Mullen One, Mullen Three, Mullen Go, and Mullen GT series. Originally intending to develop a luxury model called the Mullen Five, the firm abandoned this project in 2024 to concentrate on consumer electric vehicles.

For the fiscal year ending September 30, 2024, Mullen reported a net loss amounting to $506 million against revenues of $1 million, with cash holdings totaling $10 million at the close of the period.

History

David Michery founded the Mullen Automotive brand through the consolidation of Mullen Motor Cars and Coda Automotive. Although Michery pursued rapid growth, by 2023 the company had yet to launch any proprietary vehicle designs, instead relying on imported Chinese models. The company aimed to introduce the Dragonfly K50 luxury sports car—later renamed the Mullen GT and GTRS—to the U.S. market by 2021; however, engineering development was still underway as of early 2023. This model is largely derived from the Qiantu K50.

On June 15, 2020, Mullen Technologies revealed plans to merge with payment services provider Net Element, Inc., a transaction completed in November 2021. This reverse merger resulted in Mullen becoming a subsidiary of Net Element, which subsequently rebranded itself as Mullen Automotive, Inc.

In March 2021, Mullen announced intentions to establish a manufacturing plant in Memphis, Tennessee aimed at producing the Mullen FIVE crossover SUV with sales projected for 2024. By November of that year, however, the production facility location was shifted to Robinsonville, Mississippi.

In February 2022, Fuzzy Panda Research criticized Mullen’s acquisition of bankrupt commercial EV manufacturer Electric Last Mile Solutions (ELMS), accusing the company of marketing Chinese imports as "Made in the USA" and recording dubious revenue figures. Subsequently, in April 2022, Hindenburg Research identified Mullen among the most questionable recent ventures within the electric vehicle sector.

In September 2022, Mullen secured a controlling interest in Bollinger Motors, an electric pickup and SUV maker, for $148.2 million—placing Bollinger’s valuation at $247 million despite its fragile financial state earlier that year. Bollinger Motors later became insolvent and entered receivership in 2025.

Mullen Go

Introduced in October 2022, the Mullen Go is an electric urban vehicle primarily designed for last-mile delivery purposes. It is essentially a rebadged version of the Chinese Xiaohu FEV.

Mullen One

The Mullen One is a rebadged variant of the Wuling Motors G100 van. A related model named Mullen Campus is marketed exclusively for use on private properties and lacks some safety features present in the Mullen One.

Mullen Three

This three-seat cab-over style class 3 last-mile delivery truck is powered by a Jing-jin electric motor rated at 60 kW with a peak output of 120 kW and torque figures of 150 Nm (rated) and 320 Nm (peak). Production is handled by Yuejin, a subsidiary under Chinese state-owned SAIC Motor.

Mullen GT and GTRS

The Mullen GT and GTRS represent rebadged kit versions of the Qiantu K50 sports car.

Mullen FIVE

The development of the upscale compact SUV, Mullen FIVE, was discontinued in 2024.

Bollinger B4

In 2024, Mullen, through its subsidiary Bollinger Motors, delivered a number of Bollinger B4 trucks.

CEO compensation and awards

Although the company has not achieved profitability, CEO David Michery has retained an annual base salary of $750,000 and, as of September 2023, received performance-based awards exceeding $40 million. Additional incentives were approved during Mullen's 2023 annual shareholders meeting. On August 31, 2023, Michery appeared on Fox Business's Making Money program to address a lawsuit accusing TD Ameritrade, Charles Schwab, and National Finance Services of unlawful short selling of Mullen shares. When asked about his remuneration during the interview, Michery did not respond before technical difficulties interrupted the segment. Charles Schwab has refuted all claims made in the lawsuit.

The following day, Mullen released a statement regarding $31 million in General and Administrative expenses for the third quarter but did not discuss Michery’s compensation.