Veteran EV startup Mullen Automotive is touting a production milestone today as it has officially begun assembling its Mullen THREE Class 3 electric trucks. With production now underway in Mississippi, Mullen shared its timeline for customer deliveries in addition to annual output targets.
Mullen Automotive ($MULN) is a Southern California-based EV startup founded in 2014 that is approaching a 10-year journey to deliver affordable EVs built entirely on US soil. Despite coming close twice, the company has yet to deliver a passenger EV to market.
This resulted in a 2020 merger in which Mullen pivoted its business strategy toward its own bespoke EV model – the FIVE crossover SUV. The startup turned some heads in September 2022 when it claimed a majority stake in Bollinger Motors’ commercial EV business, vowing to resurrect the latter’s ill-fated B1 and B2 electric trucks into production as well.
Just over a month later, Mullen Automotive acquired another EV startup, Electric Last Mile Solutions (ELMs) and all its assets, including a 650,000-square-foot production facility in Indiana. While Mullen continues to develop passenger EVs under its namesake and Bollinger brands, its first vehicle to reach scaled production will be in the commercial space – the Class 3 Mullen THREE.
Mullen’s THREE trucks being assembled at its facility in Tunica, Mississippi / Credit: Mullen Automotive
Mullen reaches production of the THREE EV truck
Mullen Automotive shared details of its active assembly lines in a press release today, relaying that THREE production is underway and will gradually ramp up from September through December of this year. Per Mullen chairman and CEO David Michery:
I am proud to announce that our Class 3 vehicle line is now in production mode at our Tunica facility. Our team has been working seven days a week, day and night, getting this plant reconfigured and ready for Class 3 production.
Mullen’s Tunica facility sits upon more than 100 acres of Mississippi land, offering a production footprint of over 120,000 square feet. This specific location will be dedicated to the assembly of the company’s Class 1 to 3 commercial EVs. When fully ramped later this year, Mullen anticipates a production capacity of 3,000 Class 3 EVs per year.
The Mullen THREE starts at an MSRP of $68,500 and, according to its makers, should qualify for up to $7,500 in federal tax incentives for US customers. To date, Mullen says it has orders for over 1,250 THREE EVs, equating to $79 million in purchase orders, should they all come to fruition.
With production now underway, Mullen Automotive says the Class 3 EV deliveries should begin this month. Here’s a closer look at the Mullen THREE:
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Ford is testing a new electrified Mustang that may not be as electric as it seems. The next-gen Mustang is apparently already in development. Here’s what we know about it so far.
Is Ford launching an electrified Mustang Hybrid?
After postponing around $12 billion in planned spending on electric vehicles in 2023, Ford’s CEO Jim Farley said the company would lean more into hybrids.
Farley told investors and analysts on the company’s Q3 2023 earnings call that he’s “so thankful we have kept our foot on the gas to freshen our ICE and HEV products as we enter a changing market.”
Ford’s CFO, John Lawler, reaffirmed the company’s plans later that year, saying the company would use hybrids as a bridge to fully electric vehicles.
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“With EV adoption slower, hybrids are going to be a bigger part,” Lawler said, adding that Ford “became a little bit complacent” on hybrid tech. Last year, Ford said it would introduce a hybrid version for every gas-powered vehicle in its lineup by 2030.
2025 Ford Mustang Mach-E (Source: Ford)
Ford is apparently making good on its promise with a new Mustang hybrid in development. According to a new report from Ford Authority, the Mustang hybrid, internally code-named S650E, is in development, and prototypes are already being tested.
The report claims the new Mustang has entered the Technology Prove-Out stage, suggesting it will be electrified to some degree.
Ford Mustang Mach-E Rally (Source: Ford)
Whether it will be a traditional hybrid or a plug-in hybrid vehicle (PHEV) remains unclear. Although the company has yet to confirm it, Farley said that a “partially electrified Mustang coupe” was a strong possibility, and Ford’s Performance unit is already testing hybrid powertrains.
Electrek’s Take
Will the new Mustang hybrid sit alongside the Mach-E in Ford’s lineup? Ford’s electric crossover SUV remains one of the top-selling EVs in the US, so it’s unlikely to go anywhere, but it is due for a refresh with so many new rivals entering the market.
Through August, Ford sold 34,319 Mustang Mach-Es (+6.7% YOY) in the US. The gas-powered Mustang continues to fall out of favor, with 31,015 units sold in the first eight months of 2025, 8.3% fewer than during the same period in 2024.
With Hyundai, Stellantis, Honda, and several other global OEMs planning to launch new hybrid models in the US, the Ford Mustang hybrid doesn’t come as a total surprise. We will still have to wait for the official word from Ford, but a new electrified Stang seems more than likely.
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Transocean Barents, an oil platform passes through Canakkale Strait as vessel traffic suspended in both directions in Canakkale, Turkiye on November 12, 2024.
Enishan Keskin | Anadolu | Getty Images
Shares of Transocean plunged Thursday after the offshore driller announced the sale of a large number of shares at a discount.
Transocean is planning to sell 125 million shares at a price of $3.05, significantly lower than Wednesday’s close of $3.64. It is offering 25 million shares more than it originally planned.
The Swiss company’s stock was last down 14.8% premarket. The offering is expected to close on Friday.
Transocean expects to book about $381 million from the sale. It will use the proceeds to pay off debt.
(Correction: Updates with correct share offering price.)
New York City’s new 15 mph speed limit for electric bikes is officially set to take effect next month, in what city officials claim is a move to improve street safety. But not everyone is convinced the crackdown is targeting the real threat on the roads.
The new limit, approved earlier this year, applies to e-bikes, mopeds, and other micromobility vehicles operating in city bike lanes. Riders caught exceeding 15 mph could face warnings or citations, though the exact enforcement strategy remains murky. The NYPD says it will focus on “education first,” but given the city’s track record, that could just be the calm before the ticket storm.
The rule comes amid growing concerns from some residents and officials about rising speeds among e-bike riders, especially delivery workers who often rely on throttle-equipped bikes to meet tight deadlines. But while the new speed cap is aimed at micromobility vehicles, there’s a noticeable omission: cars, trucks, and SUVs, which continue to be allowed to travel at 25 mph – and in practice, often much faster – even though they pose exponentially more risk to vulnerable road users and are responsible for orders of magnitude more deaths each year.
It’s a move that raises eyebrows and has resulted in thousands of publicly-submitted comments that the New York Department of Transportation has seemingly ignored.
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After all, the majority of traffic fatalities in New York City don’t involve e-bikes. They involve cars. And while some e-bike riders certainly ride irresponsibly, the blanket limit nearly cuts in half the more widely accepted e-bike speed limits used around the US, and doesn’t even apply to pedal bikes, which can easily exceed such speeds despite nearly identical average weights when factoring in the vehicle and rider. Not to mention, it ignores the critical role that e-bikes play in reducing traffic congestion and emissions, especially in the delivery and commuting sectors.
So while New York is slowing down its most efficient and sustainable form of urban transport, it’s letting the real heavyweights keep their speed. If the goal is safety, then it’s fair to ask: why aren’t cars being asked to go 15 mph too?
Because once again, it seems the rules are written for the powerful – not the vulnerable.
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