Mullen Automotive Provides Timeline Update on US Customs and Border Protection Ruling for Class 1 EV Cargo Vans
February 21 2024 - 9:30AM
via IBN -- Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer, today
announces an update on the U.S. Customs and Border Protection
(“CBP”) application for Class 1 EV cargo vans. On Feb. 20, 2024,
CBP informed counsel that a final determination on the ruling
request is now expected within one to two months.
- CBP ruling requests
are typically processed on a first-in, first-out basis
- CBP ruling requests
are typically decided between 45 to 90 days, but may exceed this
aspirational timeframe depending on the agency’s caseload
On Nov. 24, 2023, Mullen and Rapid Response Defense Systems
(“RRDS”) filed responses for final ruling and compliance by the
U.S. Customs and Border Protection (“CBP”) application for Mullen’s
Class 1 EV cargo van. If Mullen receives a favorable final ruling,
the Company will be immediately eligible to sell Class 1 EV cargo
vans to all branches of U.S. government.
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. In 2022,
Bollinger Motors became a majority-owned EV truck company of Mullen
Automotive, and 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 the timing of a response from CBP and the outcome of
Mullen and Rapid Response Defense Systems application. 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
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