Mullen Automotive, Inc. (NASDAQ:MULN) is currently observing a decline in its stock value on Tuesday. The company has recently disclosed the development of a zero-emissions version of PowerUP, which is Mullen’s mobile EV charging solution for their Class 3 all-electric cab chassis truck.
According to David Michery, the CEO and chairman of Mullen Automotive, the initial feedback on the PowerUP concept was overwhelmingly positive. However, the market is now demanding a zero-emission solution. The PowerUP was initially introduced in July 2023, offering level 2 and level 3 DC fast charging for roadside assistance and emergency response.
The new zero-emission version of the PowerUP mobile charging truck will have a peak capacity of 160 kWh (Scalable to 1 MWh) and will feature Level 3 DC fast charging, off-grid AC power, and micro-grid connectivity, making it suitable for various applications.
Mullen Automotive is transitioning to a zero-emission PowerUP mobile charging truck to meet market demand and contribute to sustainability. By leveraging their all-electric Mullen THREE, the new PowerUP will deliver recharging at a higher level of scalability and performance while offering zero emissions for both the vehicle and power unit.
The company is developing the zero-emission PowerUP at its High Energy Facility located in Fullerton, California.
At the time of the last check on Tuesday, MULN shares were trading lower by 2.75% at $4.240.
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