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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 (NASDAQ: MULN) has secured an order for 10 Class 3 EV cab chassis trucks from Associated Coffee, a San Francisco Bay Area coffee and snack distributor servicing over 5,000 Northern California businesses. The order will be fulfilled through Mullen's newest franchise dealer, Papé Group, a leading West Coast commercial dealer.
The Mullen THREE Class 3 EV trucks qualify for a $45,000 HVIP cash rebate voucher and a $7,500 Federal Tax Incentive. Associated Coffee, known for its sustainability initiatives, will use these EVs to support their environmentally conscious operations across five Bay Area branches.
Mullen Automotive's subsidiary, Bollinger Motors, has received a follow-on order for seven all-electric 2025 B4 trucks from TEC Equipment, with full payment received via electronic transfer. This follows TEC's initial order of three B4s from October 30, 2024. The B4 trucks will be delivered to TEC dealer locations across California, Oregon, and Washington.
The Bollinger B4 is a Class 4 commercial truck featuring a 158-kilowatt-hour battery pack, 185-mile range, and 7,394-pound payload capacity. The vehicle qualifies for federal clean vehicle tax credits of $40,000 under the Inflation Reduction Act, with potential total savings exceeding $100,000 including state incentives.
Mullen Automotive (NASDAQ: MULN) announces a collaboration with Emerald Transportation Solutions and the Papé Group to develop a refrigerated upfit for the Mullen THREE Class 3 electric truck. The initiative targets expanding markets in home delivery, frozen food, grocery, and beverage transportation. The Mullen THREE features a versatile chassis supporting bodies up to 14 feet long with over 5,300 lbs payload capacity. The vehicle qualifies for significant incentives, including a $15,000 rebate through Massachusetts' MOR-EV program and a $45,000 voucher through California's HVIP program, plus the $7,500 Federal Tax Incentive.
Mullen Automotive has provided an update on its Fullerton, California battery operations. The company has installed three battery production lines at the facility and plans to add two more lines by early 2025. The current setup includes a high-volume standard battery line, a precision R&D line for standard chemistry, and a solid-state polymer R&D line. Additional installations planned include a high-volume standard chemistry line in December 2024 and a fully automated wire bonding line by February 2025. Production is anticipated to begin in mid-2025, supporting Mullen's commitment to domestic battery manufacturing and reducing foreign dependency.
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.
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