Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, has reached a commercial electric-vehicle milestone: its all-electric Class 3 low cab forward chassis truck has received certification from the California Air Resources Board (“CARB”), which means the vehicle meets specific emissions standards in compliance with CARB regulations. The certification means the vehicle qualifies for important state incentive programs, including an opportunity with California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”) project. The HVIP project offers a rebate of up to $45,000 and, when combined with the $7,500 federal tax credit, totals a net effective cost of less than $20,000 for the Mullen THREE. California is one of 13 states, along with the District of Columbia, that have adopted Clean Air Act vehicle standards which require additional approvals beyond Environmental Protection Agency (“EPA”) regulations. Mullen now has two vehicles — its Class 1 and Class 3 commercial vehicles — that have qualified for both EPA and CARB certifications. “CARB approval accelerates commercialization of the Mullen THREE and makes our vehicle even more appealing to customers who want to electrify their fleets,” said Mullen Automotive CEO and chair David Michery in the press release. “Having both our Class 1 and Class 3 commercial EVs now CARB and EPA certified will continue to drive sales in all states across America.”
To view the full press release, visit https://ibn.fm/jqH4t
About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover; the Mullen-GO Commercial Urban Delivery EV; the Mullen commercial class 1–3 EVs; and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and class 4–6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all Electric Last Mile Solutions (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more 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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