Mullen Automotive (NASDAQ: MULN) announced that Bollinger Motors has qualified for New York State’s New York Truck Voucher Incentive Program (“NYTVIP”), offering up to a $100,000 voucher for its all-electric B4 Truck. This incentive, provided by NYSERDA, marks the fourth state incentive for Bollinger in the Northeast, adding to similar programs in Massachusetts, New Jersey and Pennsylvania. Alongside a federal tax credit of $40,000 under the Inflation Reduction Act, Bollinger’s B4 Truck is primed to offer substantial financial incentives, bolstering its adoption in commercial fleets. Recent milestones for Bollinger include regulatory certifications, significant fleet orders and partnerships with dealers and service providers, underscoring the B4’s readiness for widespread deployment.
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About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (“CARB”) and EPA certified and available for sale in the U.S. The CARB-issued HVIP approval on the Mullen THREE, Class 3 EV truck, provides up to a $45,000 cash voucher at time of vehicle purchase. The company has also recently expanded its commercial dealer network to seven dealers with the addition of Papé Kenworth. Other previously announced dealers include Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key Midwest, West Coast, Pacific Northwest, New England and Mid-Atlantic markets. The company has also announced Foreign Trade Zone (“FTZ”) status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. FTZ approval provides a number of benefits, including deferment of duties owed and elimination of duties on exported vehicles. For more information about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
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