Mullen Automotive (NASDAQ: MULN) stock experienced a surge on Friday following the announcement of a new distribution partner for its electric vehicles (EVs) in the Balkans region. The company has partnered with GAMA to distribute its commercial EV product line in Europe.
David Michery, chairman and CEO of Mullen Automotive, expressed excitement about the deal with GAMA, stating, “This is part of Mullen’s global expansion into additional European markets and we are excited to secure and announce GAMA as a first distributor for the Balkans Region of southeastern Europe.”
The partnership will bring Mullen’s commercial EVs to GAMA’s eight sub-dealers in the region, providing support for sales, service, and parts operations.
Following this news, MULN stock saw a 9.5% increase on Friday afternoon. However, the stock is still down 65.9% since the beginning of the year. Trading activity for MULN remains relatively low, with only about 762,000 units traded compared to its daily average of approximately 4.4 million shares.
Investors interested in the stock market may also want to keep an eye on other companies such as Archer Aviation (NYSE: ACHR), Live Nation Entertainment (NYSE: LYV), and Lucid (NASDAQ: LCID) for more market news.
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