The California Governor’s office just recently announced that going by data from the California Energy Commission, zero-emission vehicles (ZEVs), currently account for 17.7% of all new cars sold in California. In total, ZEVs share of sales have increased by 42.7% compared to 2021 and are up by 126.9% against 2020.
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This is evidently good news for the fledgling EV industry as it attempts to gain mainstream adoption. One company which hopes to catch a ride on this secular trend is Southern California-based Mullen Automotive (MULN).
The company is developing its compact sport utility electric vehicle the Mullen FIVE, for which production validation is presently set to kick off in Q4 2023, while the vehicle is expected to become commercially available in 2024 or 2025.
Meanwhile, Mullen has been taking its asset out on the road on the FIVE EV Crossover tour – or the “Strikingly Different” tour – where the vehicle has been getting extremely positive feedback from Mullen investors, reservation holders and general members of the public. These were given a chance to take the FIVE for a spin for the first time.
The tour’s first port of call was Pasadena, California, where the car and the enhanced entertainment system with PERSONA, Mullen’s own Personal Vehicle Assistant technology, left a lasting impression on the tour stop attendees. The Mullen FIVE’s PERSONA system, which uses facial recognition technology, is intended to give each driver a highly customized driving experience.
The next chance to test out the vehicle will be at the Angel Stadium in Anaheim, California on November 1 and 2. Following which, the “Strikingly Different” tour will head to Las Vegas, Nevada, on November 10 and 11.
It’s not only tour attendees who appear to be getting behind Mullen. Investor sentiment on TipRanks appears to be decidedly positive, with many opening or increasing positions recently. (See Mullen stock analysis on TipRanks)
Disclaimer: The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
