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Mullen Automotive, Inc. (NASDAQ: MULN) is a Southern California-based automotive innovator specializing in the manufacture of electric vehicles (EVs) and energy solutions. The company's primary mission is to make EVs accessible by creating a comprehensive ecosystem that supports all aspects of electric vehicle ownership.
Mullen Automotive's business is anchored by its two U.S.-based vehicle plants in Tunica, Mississippi, and Mishawaka, Indiana, where it commenced commercial vehicle production in August 2023. The company operates through two segments: Bollinger and Mullen/ELMS, which collectively generate its revenue.
One of Mullen's significant assets is its subsidiary Mullen Auto Sales, a fast-expanding chain of auto dealerships. Additionally, Mullen owns CarHub, a digital platform that leverages AI to provide a seamless car buying, selling, and ownership experience. The company’s product lineup includes the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck. These vehicles are certified by the California Air Resource Board (CARB) and the EPA, making them available for sale across the U.S. The Mullen THREE, for instance, is HVIP approved, offering up to a $45,000 voucher at purchase combined with a $7,500 federal tax credit, potentially reducing its net effective cost to under $17,000.
In recent developments, Mullen has formed key partnerships to enhance its market reach and operational capacity. Collaborations with entities like Ziegler Truck Group, Range Truck Group, and EnviroCharge underscore Mullen's commitment to delivering zero-emission commercial vehicles. Mullen’s strategic pivot to a zero-emissions model, as highlighted by the launch of the PowerUP zero-emissions mobile charging truck, aligns with the growing market demand for sustainable solutions.
Mullen's international footprint is also expanding, with new distributor agreements in regions like the Balkans and partnerships with companies like Antidoto SA to deploy urban delivery vehicles in Europe. Such initiatives are key to Mullen’s global EV market strategy.
Financially, Mullen received federal EV tax credit approval in September 2023, enhancing the affordability of its commercial vehicles. Additionally, the Tunica, Mississippi plant's Foreign Trade Zone (FTZ) status offers various financial benefits, including duty deferment and elimination of export duties.
For more detailed and up-to-date information, visit Mullen Automotive’s official site at www.MullenUSA.com.
Mullen Automotive announces new orders for its Mullen ONE Class 1 EV cargo vans from two California universities in Los Angeles and Berkeley. This follows recent orders from Princeton University, UVA, and UNC. The deliveries were made through Mullen's dealer partners, National Fleet Auto Group and Randy Marion Automotive Group.
The company's EVs align with universities' zero emission goals, offering immediate impact on campus fleet sustainability. The Mullen ONE and Mullen THREE vehicles are fully compliant with federal safety standards and CARB certifications. Both models qualify for significant incentives, including up to $45,000 in HVIP rebates for the THREE and $3,500 MOR-EV incentives for the ONE, plus $7,500 Federal Tax Incentives.
Bollinger Motors has received HVIP approval in California, qualifying its B4 electric truck for a $60,000 cash voucher per vehicle. The B4, with an MSRP of $158,758, can now benefit from up to $100,000 in combined incentives when including the $40,000 federal tax credit, effectively reducing the cost to below $60,000. The Class 4 commercial EV features a 185-mile range, 7,394 lbs payload, and a 158-kwh battery pack. The company has recently achieved several milestones, including production launch, regulatory certifications, and multiple fleet agreements totaling 265 vehicles with various companies.
Mullen Automotive announces that its subsidiary Bollinger Motors' 2025 B4 electric truck has received HVIP approval from California Air Resources Board (CARB). The Class 4 EV truck, with an MSRP of $158,758, now qualifies for a $60,000 cash voucher through the HVIP program. When combined with the $40,000 federal tax credit, the net cost could be reduced to under $59,000. The B4 features a 185-mile range, 7,394-pound payload, and a 158-kilowatt-hour battery pack. Bollinger has secured multiple vehicle agreements and established dealer partnerships, while also achieving regulatory milestones including FMVSS compliance and EPA certification.
Bollinger Motors has partnered with National Auto Fleet Group (NAFG) to sell its all-electric Class 4 Bollinger B4 commercial trucks to government agencies through NAFG's Sourcewell contract. The B4 Chassis Cab features a 185-mile range, 7,394 lbs payload, and a 158-kwh battery pack. Recent company milestones include production launch, regulatory certifications, multiple vehicle agreements totaling 265 units, dealer network expansion, and partnerships for battery supply and warranty services.
Mullen Automotive announces partnership with National Auto Fleet Group (NAFG) to sell Bollinger B4 electric commercial trucks to government agencies through NAFG's Sourcewell contract. The B4 Chassis Cab is an all-electric Class 4 truck with a 185-mile range and 7,394-pound payload capacity, featuring a 158-kilowatt-hour battery pack. Bollinger Motors has achieved several milestones, including production launch, regulatory certifications, and multiple vehicle agreements totaling 265 units with various fleet management companies. The company has also expanded its dealer network and established partnerships for warranty administration and mobile services.
Mullen Automotive announces that its Class 1 EV cargo van, the Mullen ONE, is now available for rental on Turo, the world's largest vehicle sharing marketplace. The initial pilot launch is in Jacksonville, Florida, through Parasol Strategic Solutions, with a second pilot planned for Baltimore, Maryland. The Mullen ONE and THREE models are eligible for significant incentives, including up to $15,000 through Massachusetts' MOR-EV program and $45,000 through California's HVIP program. When combined with the $7,500 Federal Tax Incentive, these vehicles offer substantial savings for commercial fleet customers.
Bollinger Motors announced eligibility for New York's Truck Voucher Incentive Program (NYTVIP), becoming the fourth Northeast state incentive qualification. The company's all-electric B4 Chassis Cab can now receive up to $100,000 in NY state credits. Combined with other Northeast state incentives and federal IRA credits of $40,000, customers can access between $70,000-$140,000 in total incentives.
The 2025 B4 features a 158-kilowatt-hour battery pack and is designed for commercial fleets. Recent company milestones include production launch, regulatory certifications, multiple fleet sales totaling 265 vehicles, dealer network expansion, and partnership announcements with ONE for batteries, Syncron for warranty administration, and Amerit Fleet Solutions for mobile service.
Mullen Automotive announces that its subsidiary, Bollinger Motors, has been approved for the New York Truck Voucher Incentive Program (NYTVIP), offering up to $100,000 cash voucher incentive for its all-electric B4 Truck. This adds to existing Northeast state incentives from Massachusetts ($30,000), New Jersey ($90,000), and Pennsylvania ($20,000). Combined with the federal IRA tax credit of $40,000, customers can receive between $70,000 and $140,000 in total incentives.
The 2025 Bollinger B4 Chassis Cab, featuring a 158-kilowatt-hour battery pack, has secured multiple vehicle sales agreements and expanded its dealer network. Recent achievements include FMVSS compliance, EPA certification, and CARB certification.
Bollinger Motors has delivered its first West Coast 2025 Bollinger B4 Chassis Cabs to TEC Equipment dealerships in Washington and California, with a total retail value of nearly $500,000. The all-electric Class 4 commercial truck features a 158-kilowatt-hour battery pack and qualifies for federal clean vehicle tax credits of $40,000 per vehicle, with potential total savings exceeding $100,000 with state incentives. The company has achieved several milestones, including production launch, regulatory certifications, and significant vehicle sales to various fleet management companies.
Mullen Automotive's subsidiary, Bollinger Motors, has delivered three 2025 B4 chassis cab electric trucks to TEC Equipment locations in Washington and California, with a retail value of approximately $500,000. The revenue is being recognized in Mullen's current fiscal quarter ending December 2024. The B4 chassis cab features a 158-kilowatt-hour battery pack and qualifies for federal clean vehicle tax credits of $40,000 per vehicle, with potential total savings exceeding $100,000 including state incentives. TEC Equipment, a family-owned dealership with over 30 locations across eight states, will help distribute Bollinger's electric trucks along the West Coast.
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