Locator: 46371EVS.
Mullen is up 75% today.
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Re-Posting
Locator: 45349EVS.
Warning: all readers should skip this page. I did this for my own benefit because I was starting to lose the bubble.
This is re-capping a rabbit hole from which acabo de volver.
LOL.
It all started when I realized I omitted ELMS from my EV scorecard. Or if it's there, which it probably is, I missed it.
Long story short: ELMS went bankrupt; was bought by Mullan.
Mullan will roll out its class 3 truck on August 24, 2023.
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Tickers
ELMS:
MULN:
From the link above:
Mullen / ELMS:
The
$240 million cash purchase allows Mullen the capability to build up to
50,000 EVs annually, accelerating the launch of the Mullen FIVE and
Bollinger B1 and B2 retail vehicles. The deal also gives Mullen control
over ELMS’s inventory, intellectual property rights and plant in
Mishawaka, Indiana.
Mullen, which went public in a 2021 SPAC merger, is in growth mode,
acquiring in September a 60% controlling interest in Bollinger Motors, a
Michigan-based startup that aimed to build battery-electric commercial
trucks and off-road pickups. Electric Last Mile Solutions, another
Michigan startup, filed for bankruptcy in June, less than a year after
it went public through a $1.4 billion SPAC deal.
Several startups that went public in high-profile reverse mergers over
the past couple of years have faced bankruptcy, SEC scrutiny or cash
crunches. The purchase of ELMS will allow Mullen to “to shorten its
production path and aggressively expand into the commercial and consumer
EV market,” David Michery, CEO and chairman of Mullen Automotive, said
in a statement.
The automaker plans to build the Mullen FIVE, as well as the Mullen
Class 1 and Class 3 commercial delivery vehicles expected next year, at
its factory in Tunica, Mississippi. In addition to the Mullen FIVE
slated to enter production in 2024, the company plans to build the Five
RS, an “ultra-high-performance EV sport crossover” with 1,000
horsepower, a top speed of 200 mph and 0-to-60 acceleration under two
seconds.
Break, break. I also forgot to include Canoo (GOEV) on the EV
scorecard, and any updates, or maybe I did and I forgot. I do remember
the Canoo - NASA tie-up some month ago.
Today:
Ticker, GOEV:
From wiki:
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Truck Classification
In
a long note like this, there will be typographical and content errors,
errors of omission and commission. If this is important to you, go to
the source.
Vehicle classification in the US.
Light duty.
- Class 1: passenger cars and really, really light-weight pickup trucks like the Ford Ranger, Toyota Tacoma, Nissan Frontier.
- The
F-150 is almost a class 1, but it falls into the the class 2 category,
but class 2 is the only class further broken into class 2a and 2b. So,
the F-150 "upsets" the "trend" that one sees below.
Medium duty.
- Now,
it gets a bit interesting. An F-350 is a class 3 truck but an F-450
comes in both the class 3 flavor and the class 4 favor.
- so, Ford markets two class 3 pick-up trucks: the F-350 and the F-450
- class 3 F-450: the typical pick-up truck;
- class
4 F-450: just the cab and the chassis; no "box." It's like the typical
urban tow trucks one sees everywhere picking up stalled EVs
- Class 4: F-450 (chassis only model, as noted above)
A trend is starting to develop, continuing with medium duty.
Heavy duty
- Class 7 26,001 - 33,000 pounds.: F-750; Kenworth K370, Mack MD, Peterbilt 220 and 337/348, etc.
- Class
8, 33,001 - 80,000 pounds: Volvo Truck VNL, Freightliner Cascadia, Ford
F-750, Kenworths, Nikola TRE, Peterbilts, Western Stars, and so on.
I
figured out the nomenclature using the quarter-ton, half-ton,
three-quarter-ton naming, but now the "class nomenclature" makes sense.
Whether it was planned that way or not.
