Mullen Automotive Inc. has signed a vehicle purchase agreement with MGT Lease Co., a national fleet leasing provider, for 250 all-electric commercial Class 3 cab chassis electric trucks.
The vehicles are slated for delivery beginning in August, with complete fulfillment of the purchase agreement occurring by December. The orders will be fulfilled through Randy Marion Automotive Group, a distributor of Mullen’s commercial EVs.
MGT is a growing commercial vehicle sales and leasing company based in North Carolina, with annual revenue of over $70 million in 2022 and $100 million projected for 2023. MGT’s primary customer base focuses on last-mile segments, such as package delivery and retail, and vocations such as plumbing and electrical. MGT currently provides commercial vehicle sales and leasing across all major OEM brands, with focus on Class 1-4 commercial vehicles.
MGT will purchase Mullen’s all-electric Class 3 EV cab chassis truck, the Mullen THREE, for its short- and long-term fleet leasing portfolio, focused on small, medium and enterprise businesses.
MGT is a Mullen Automotive repeat customer, initially purchasing EV cargo vans from Mullen in March and now expanding into the larger Class 3 cab chassis trucks.
“We are very happy with the Mullen EV cargo van and have received great customer feedback and are now looking forward to expanding into Mullen’s commercial Class 3 truck,” says Greg Striker, partner at MGT.