Mullen Announces Class 1 EV Sale to Massachusetts Dealer Partner, Eco Auto
02 July 2024 - 11:00PM
via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an electric vehicle (“EV”) manufacturer, announces
today the first sale of its Mullen Commercial electric vehicles in
Massachusetts through its new dealer partner, Eco Auto. The initial
delivery will go to a Massachusetts-based company offering custom
home building, home renovations and maintenance, property
management and painting services.
The Company announced the addition of zero-emissions commercial
vehicle dealership, Eco Auto, earlier this month. Headquartered in
Tewksbury, Massachusetts, Eco Auto is a national franchise of
automotive dealerships with a core focus of making EVs accessible
to all. Eco Auto offers a comprehensive electric vehicle experience
for customers by providing affordable EVs, hybrid models, advanced
charging stations, and expert EV service in state-of-the-art
facilities.
“Eco Auto is excited to launch our partnership with Mullen,“
said Al Salas, president of Eco Autos. “We believe Mullen EVs help
lower the barrier to entry to commercial
electrification.”
“We are thrilled to announce the first Mullen Commercial EV sale
in Massachusetts with our valued partner, Eco Auto,” said David
Michery, CEO and chairman of Mullen Automotive. “We are confident
that our commercial EVs will be a game-changer for businesses
looking to electrify in Massachusetts, offering them a reliable,
efficient, and environmentally friendly transportation
solution.”
Mullen’s commercial EV lineup includes the Mullen ONE, Class 1
EV cargo van, and the Mullen THREE, Class 3 EV cab chassis truck,
purpose-built to meet the demands of urban last-mile delivery. Both
vehicles are available for sale and in full compliance with U.S.
Federal Motor Vehicle Safety Standards, the Environmental
Protection Agency, and the California Air Resources Board (“CARB”)
certifications denoting strict adherence to clean air emissions
standards.
Earlier this month, the Mullen THREE qualified for a $15,000
incentive through the State of Massachusetts MOR-EV program.
Massachusetts is a CARB-approved state with a similar program to
California’s Hybrid and Zero-Emissions Truck and Bus Voucher
Incentive Project (“HVIP”), which in April approved the Mullen
THREE for a $45,000 HVIP cash rebate voucher at time of vehicle
purchase.
About MullenMullen 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. Recently, CARB issued HVIP
approval on the Mullen THREE, Class 3 EV truck, providing up to a
$45,000 cash voucher at time of vehicle purchase. The Company has
also recently expanded its commercial dealer network with the
addition of Pritchard EV, National Auto Fleet Group, Ziegler Truck
Group, Range Truck Group and Eco Auto, providing sales and service
coverage in key Midwest, West Coast and Pacific Northwest and New
England markets. The Company also recently announced Foreign Trade
Zone (“FTZ”) status approval for its Tunica, Mississippi,
commercial vehicle manufacturing center. FTZ approval provides a
number of benefits, including deferment of duties owed and
elimination of duties on exported vehicles.
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, whether the new dealership will order any more
Mullen vehicles or will be successful in selling Mullen’s vehicles.
Additional examples of such risks and uncertainties include but are
not limited to: (i) Mullen’s ability (or inability) to obtain
additional financing in sufficient amounts or on acceptable terms
when needed; (ii) Mullen's ability to maintain existing, and secure
additional, contracts with manufacturers, parts and other service
providers relating to its business; (iii) Mullen’s ability to
successfully expand in existing markets and enter new markets; (iv)
Mullen’s ability to successfully manage and integrate any
acquisitions of businesses, solutions or technologies; (v)
unanticipated operating costs, transaction costs and actual or
contingent liabilities; (vi) the ability to attract and retain
qualified employees and key personnel; (vii) adverse effects of
increased competition on Mullen’s business; (viii) changes in
government licensing and regulation that may adversely affect
Mullen’s business; (ix) the risk that changes in consumer behavior
could adversely affect Mullen’s business; (x) Mullen’s ability to
protect its intellectual property; and (xi) local, industry and
general business and economic conditions. 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
- Eco Auto is Mullen’s authorized commercial dealer for the New
England Area
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