The Mullen THREE, Class 3 EV Truck Now CARB Certified and Ready for Sale in All CARB States and District of Columbia
January 29 2024 - 9:15AM
via IBN – Mullen Automotive, Inc. (NASDAQ: MULN)
(“Mullen” or the “Company”), an emerging electric vehicle (“EV”)
manufacturer, today announces the achievement of a
key commercial EV milestone with its all-electric Class 3 low
cab forward chassis truck, receiving certification from
the California Air Resources Board (“CARB”). 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.
Mullen’s Class 1 and Class 3 commercial vehicles are now both in
receipt of Environmental Protection Agency (“EPA”) and CARB
certifications. Both vehicles are also in full compliance with U.S.
Federal Motor Vehicle Safety Standards. Having received credentials
from CARB and the EPA, Mullen can now sell both the Mullen ONE
and THREE in every state throughout the U.S. A copy
of Mullen’s Class 3 CARB certification can be found on
MullenUSA.com.
Additionally, CARB certification opens both the Mullen ONE and
THREE eligibility for 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.
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.
“CARB approval accelerates commercialization of the Mullen THREE
and makes our vehicle even more appealing to customers who want to
electrify their fleets,” said David Michery, CEO and chairman of
Mullen Automotive. “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.”
About MullenMullen Automotive (NASDAQ: MULN) 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,
Mullen-GO Commercial Urban Delivery EV, 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 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.
Forward-Looking StatementsCertain 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 and EPA 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)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
- Certification opens the Mullen THREE EV truck to important
state incentive programs
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