We shall see. Rivian and Lucid created luxury vehicles from the ground up using high quality materials with a “no expenses spared” model to sell at luxury car prices. They also are direct competitors to Tesla. Luxury car sales have had a very bad year and both companies have been hit hard by Tesla’s price cuts.
In the last year MULN has gone the opposite route. It took over ELMS and Bollinger, acquiring two companies that had projects that were primarily complete and were attempting to create more spartan vehicles for corporations and government agencies.
These projects that MULN acquired aren’t direct competition to Tesla as they’re going for different markets. Their competition (especially for the government deals) is going to be the Detroit automakers’ EV programs. Detroit has struggled with change for decades and their EV programs are no exceptions. MULN doesn’t need to burn cash, they just need to get the factory they have that was producing vehicles to produce their vehicles.
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