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Mullen Automotive Stock Climbs After Electric Last Mile Bankruptcy Deal – WSJ
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Electric-vehicle startup Mullen Automotive Inc. shares climbed after the company said it gained court approval to buy an Indiana manufacturing plant and other assets from now-defunct Electric Last Mile Solutions Inc. for $92 million. Mullen shares, down about 93% so far this year, rose 64% in Wednesday trading to 36 cents. Electric Last Mile put its assets up for sale after shutting its business and filing a bankruptcy liquidation case in June. We are delighted that you’d like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service. Please click confirm to resume now.Electric-vehicle startup Mullen is buying a manufacturing plant in Mishawaka, Ind., and other assets out of bankruptcy for $92 million
A delivery vehicle manufactured by Electric Last Mile Solutions in South Bend, Ind.
Photo: ELMS/via REUTERS Updated Oct. 19, 2022 1:55 pm ET
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