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Mullen Announces New CARB Approval for 2025 Class 3 EV Cab Chassis Truck

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Mullen Automotive, Inc. (NASDAQ: MULN) announces CARB approval for their 2025 Class 3 electric truck, following previous approval for the 2024 model. The certification opens doors to state EV incentive programs, aligning with new regulations mandating zero-emission vehicle purchases for government fleets by 2027. The company aims to capitalize on strong incentives for commercial fleet electrification.
Mullen Automotive, Inc. (NASDAQ: MULN) annuncia l'approvazione da parte della CARB per il loro camion elettrico di Classe 3 del 2025, a seguito dell'approvazione già ottenuta per il modello del 2024. La certificazione permette l'accesso ai programmi di incentivi statali per i veicoli elettrici, in linea con le nuove normative che obbligano all'acquisto di veicoli a zero emissioni per le flotte governative entro il 2027. L'azienda mira a sfruttare gli forti incentivi per l'elettrificazione delle flotte commerciali.
Mullen Automotive, Inc. (NASDAQ: MULN) anuncia la aprobación de CARB para su camión eléctrico Clase 3 del 2025, tras la aprobación previa del modelo 2024. Esta certificación abre las puertas a programas de incentivos estatales para vehículos eléctricos, alineándose con nuevas regulaciones que mandatan la compra de vehículos de cero emisiones para flotas gubernamentales para 2027. La compañía tiene como objetivo capitalizar los fuertes incentivos para la electrificación de flotas comerciales.
Mullen Automotive, Inc. (NASDAQ: MULN)는 2025년형 3등급 전기 트럭이 CARB 승인을 받았다고 발표했습니다. 이는 이전에 2024 모델에 대한 승인을 받은 후의 것입니다. 이 인증은 주 정부의 전기차 인센티브 프로그램 접근을 가능하게 하며, 2027년까지 정부 차량 대상으로 제로 배출 차량 구매를 의무화하는 새로운 규정과 일치합니다. 회사는 상업용 차량 전기화에 대한 강력한 인센티브를 활용할 계획입니다.
Mullen Automotive, Inc. (NASDAQ: MULN) annonce l'approbation de la CARB pour leur camion électrique de classe 3 pour 2025, suite à l'approbation précédente du modèle 2024. La certification ouvre la voie aux programmes d'incitations étatiques pour les véhicules électriques, en accord avec les nouvelles réglementations qui exigent l'achat de véhicules zéro émission pour les flottes gouvernementales d'ici 2027. L'entreprise vise à capitaliser sur les fortes incitations à l'électrification des flottes commerciales.
Mullen Automotive, Inc. (NASDAQ: MULN) gibt die CARB-Zulassung für ihren elektrischen LKW der Klasse 3 für 2025 bekannt, nachdem zuvor das Modell für 2024 genehmigt wurde. Die Zertifizierung eröffnet den Zugang zu staatlichen Förderprogrammen für Elektrofahrzeuge, im Einklang mit neuen Vorschriften, die den Kauf von emissionsfreien Fahrzeugen für Regierungsflotten bis 2027 vorschreiben. Das Unternehmen beabsichtigt, die starken Anreize für die Elektrifizierung von kommerziellen Flotten zu nutzen.
Positive
  • Mullen Automotive receives CARB approval for their 2025 Class 3 electric truck, in addition to the 2024 model.
  • The certification allows access to state EV incentive programs, supporting the company's market positioning.
  • New regulations require government fleets to purchase zero-emission vehicles, creating a favorable environment for Mullen's products.
  • The CEO emphasizes the readiness of their vehicles for delivery, highlighting the attractive incentives available for fleet electrification.
Negative
  • None.

Company now in receipt of CARB approval for both 2024 and 2025 Class 3 Model Years

CARB certification takes on even more significance with the recent Advanced Clean Fleets (“ACF”) regulation, which requires state and local government fleets, including city, county, special district, and state agency fleets, to ensure 50% of vehicle purchases are zero-emission beginning in 2024 and 100% of vehicle purchases are zero-emission by 2027

BREA, Calif., April 25, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces certification from the  California Air Resources Board (“CARB”) on the 2025 Mullen THREE, Class 3 all-electric low cab forward chassis truck. The certification is awarded to vehicle manufacturers who meet specific emissions standards in compliance with CARB regulations. The District of Columbia and 14 states, including California, have adopted vehicle standards under Section 177 of the Clean Air Act (42 U.S.C. §7507), which requires additional approvals beyond EPA regulations.

A copy of Mullen’s 2025 Class 3 CARB certification can be found on MullenUSA.com. The Company previously received 2024 Model Year CARB certification for the Mullen THREE in January 2024.

CARB certification opens the Mullen THREE to critical state EV incentive programs, which vary by each eligible CARB-compliant state. The certification takes on even more significance with CARB’s recent Advanced Clean Fleets (“ACF”) regulation, which will have a requirement that state and local government fleets, including city, county, special district, and state agency fleets, ensure 50% of vehicle purchases are zero-emission beginning in 2024 and 100% of vehicle purchases are zero-emission by 2027. Fleets that fall under high priority may also elect to utilize ZEV milestones as an option to meet overall ZEV targets.

CARB-compliant states and locations include: California, Connecticut, Colorado, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Vermont and the District of Columbia

California’s HVIP project is an example of a valuable state incentive program available to CARB-certified vehicles. Under HVIP, the Mullen THREE EV truck, with a suggested MSRP of $68,500.00, may qualify for a rebate of up to $45,000.00 and, when combined with the available $7,500.00 federal tax credit, the net effective cost of the Mullen THREE would be less than $20,000.00.

“Our vehicles are CARB approved and ready for delivery with many states and local governments offering very strong incentives to electrify commercial fleets,” said David Michery, CEO and chairman of Mullen Automotive.

About Mullen
Mullen Automotive (NASDAQ: MULN) 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.

To learn more about the Company, visit www.MullenUSA.com.

Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to what extent, if any, the Mullen Class 1 and 3 will benefit from state or federal cash or other incentive programs, the total cost of these vehicles to purchasers and the impact on sales, if any, due to the CARB certifications. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.

Contact:
Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

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FAQ

What is the significance of Mullen's recent CARB approval for their 2025 Class 3 electric truck?

The CARB approval for the 2025 Class 3 electric truck allows Mullen Automotive to access state EV incentive programs and comply with regulations mandating zero-emission vehicle purchases for government fleets by 2027.

How does the CARB certification benefit Mullen Automotive?

The CARB certification opens opportunities for Mullen Automotive to participate in state EV incentive programs and align with regulations requiring zero-emission vehicle purchases for government fleets by 2027.

What are the key details of Mullen's CARB approval for their 2025 Class 3 electric truck?

Mullen Automotive receives CARB approval for their 2025 Class 3 electric truck, following previous approval for the 2024 model. The certification enables access to state EV incentive programs and supports compliance with new regulations mandating zero-emission vehicle purchases for government fleets by 2027.

Which states have adopted vehicle standards under Section 177 of the Clean Air Act?

California, Connecticut, Colorado, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Vermont, and the District of Columbia have adopted vehicle standards under Section 177 of the Clean Air Act.

What is the net effective cost of Mullen's THREE EV truck after incentives?

The net effective cost of the Mullen THREE EV truck, priced at $68,500.00, could be less than $20,000.00 after qualifying for a rebate of up to $45,000.00 under California's HVIP project, combined with the available $7,500.00 federal tax credit.

Mullen Automotive, Inc.

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