Mullen

Reverse stock splits: Often a path to oblivion

The reverse stock split, a form of financial engineering that artificially boosts a company’s stock price, often sounds a death knell, especially for startups that exhausted funds in mergers with special purpose acquisition companies.

The widespread carnage of failed advanced technology startups, especially in electrification and autonomy, is remarkable. With a few exceptions, companies opting for a reverse split end up on a path to oblivion.

All hat, no cattle

According to the independent Financia...

https://www.freightwaves.com/news/reverse-stock-splits-often-a-path-to-oblivion

After ELMS bankruptcy, James Taylor resurfaces as CEO of Bollinger Motors

James Taylor, the former CEO of Electric Last Mile Solutions, kept a low profile following the bankruptcy sale of the company’s assets to Mullen Automotive. This week, he resurfaced as CEO of Mullen-controlled Bollinger Motors, a maker of electric trucks.

Longtime automotive executive James Taylor (center) became CEO of Bollinger Motors on Tuesday. Siva Kumar (left) became chief strategy officer. Bryan Chambers (right) became president and chief operating officer. (Photo: Bollinger Motors)

Was...

https://www.freightwaves.com/news/after-elms-bankruptcy-james-taylor-resurfaces-as-ceo-of-bollinger-motors

Are startup investors getting past the FOMU cycle?

The same driverless technology that Kodiak Robotics plans to put on highways in late 2024 has application to the military, which sees leveraging commercially developed innovation as smarter than creating everything itself.

Following Kodiak’s reveal of its Ford F-150-based prototype autonomous vehicle for the U.S. Army on Monday, Kodiak founder and CEO Don Burnette and I discussed dual-use technology, the recent comings and goings in the autonomous trucking space and a thawing of investor...

https://www.freightwaves.com/news/are-startup-investors-getting-past-the-fomu-cycle

Nikola will replace batteries in fire-prone electric trucks

Nikola Corp. is telling customers it will replace the battery packs in its electric trucks, a worst-case scenario following several fires. Nikola is bringing all the trucks back to its Arizona plant but won’t say where or when it will get pack replacements.

In most recalls, the supplier of the part or component involved bears at least some of the cost of the campaign. In Nikola’s case, it owned its since-liquidated former supplier, Romeo Power Inc. It is therefore on the hook for the full cost...

https://www.freightwaves.com/news/nikola-will-replace-batteries-in-fire-prone-electric-trucks

Carnage grows among transportation startups

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In the world of electric vehicle and autonomous trucking startups, the picture of winners and losers...

https://www.freightwaves.com/news/carnage-grows-among-transportation-startups

Mullen stock soars after EV maker’s deal with Amazon delivery partner

Mullen Automotive EV

According to the Environmental Protection Agency, transportation and logistics contribute more than a quarter of all U.S. greenhouse gas emissions. And as the White House pushes for aggressive electrification targets, carriers are scrambling to add EVs to their fleets.

You can count Amazon (NASDAQ: AMZN) as the latest to make a big move. On Monday, EV maker Mullen Automotive (NASDAQ: MULN) announced an agreement with Amazon Delivery Service Partner DelPack Logistics to deliver up to 600 electric...

https://www.freightwaves.com/news/mullen-stock-soars-after-ev-makers-deal-with-amazon-delivery-partner