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Volt + Mullen partner on electric trucks: UAE-based commercial leasing company Volt Mobility signed a USD 210 mn contract with US-based EV manufacturer Mullen Automotive to purchase 3k electric cargo trucks and vans over a timeframe of 16 months, according to a press release. Under the purchase agreement, Volt will make a USD 3 mn deposit within 60 days for Mullen’s Class One and Class Three models with further payments made upon the delivery of the vehicles. The first batch of vehicles by Mullen are set to be delivered immediately, the statement said, without providing further details.
The details: Volt aims to lease these vehicles to corporate customers in the Middle East and the GCC region, including its clients UPS, DHL, and FedEx, according to the statement. Mullen’s Mississippi facility — which can produce 20k Class 1 and 6k Class 3 vehicles annually — will assemble Volt’s order to the region, it added.
About Volt: Founded in 2020, Volt is one of the region’s leading commercial EV leasing companies. It focuses on light, medium, and heavy-duty electric vehicles with a portfolio of 17 models, according to a SEC filing. The company leases vehicles to corporate clients, offering first to last-mile delivery for fast-moving goods and heavy-duty trucks for regional shuttling services.
