Mullen Automotive Settles Legal Disputes, Transfers Indiana Facility to GEM

Mullen Automotive has reached a settlement with GEM Yield Bahamas and GEM Global Yield, resolving all outstanding legal disputes between the parties by transferring ownership of its manufacturing facility in Mishawaka, Indiana, to GEM. This transfer satisfies a federal court judgment favoring GEM and concludes the litigation without further legal action. The Mishawaka facility, a large automotive plant with extensive infrastructure, was previously used by General Motors and AM General. Following the settlement, all pending enforcement and post-judgment proceedings will be permanently dismissed, allowing Mullen to focus on its core business objectives. Investors responded positively, driving Mullen's stock up nearly 7% in premarket trading, reflecting increased confidence despite the company's ongoing financial challenges, including a low current ratio and negative gross profit margin. Mullen continues to manufacture commercial electric vehicles, with operations now centered on its Tunica, Mississippi site.