01:56 PM EDT, 10/07/2024 (MT Newswires) -- Mullen Automotive ( MULN ) said Monday it expects to generate $75 million in GAAP revenue over the next six months, averaging $12.5 million per month from commercial vehicle and Bollinger Motors sales.

Additionally, the company said it is reducing monthly expenses by $5.5 million, down to $7.3 million, through a 20% headcount reduction, scraping 5-passenger vehicle programs, and facility consolidations.

Its shares were up nearly 2% in recent trading.

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