Mullen Automotive (NASDAQ: MULN), an electric vehicle (“EV”) manufacturer, has received approval from the California Air Resources Board (“CARB”) for the Mullen THREE, a class 3 low cab forward vehicle, to be accepted in the state’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”). The approval means the Mullen THREE EV truck now qualifies for a rebate of up to $45,000.According to the announcement, when that rebate is combined with the $7,500 federal tax credit, the Mullen THREE, which has a suggested MSRP of $68,500, could be available for under $17,000. California’s HVIP program supports deployment of zero-emission technologies and is designed to increase commercialization by providing point-of-sale vouchers to make advanced vehicles more affordable. The all-electric Mullen THREE offers a 125-mile range and is designed to meet the demands of urban last-mile delivery. “California’s HVIP approval for the 2024 Mullen THREE is a significant milestone making our Class 3 electric truck even more attractive and accessible to businesses seeking to electrify their fleets,” said Mullen Automotive CEO David Michery in the press release.
To view the full press release, visit https://ibn.fm/ymUYz
About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) at its 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 United States. 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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