MULN Mullen Automotive Inc

via IBN – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today that its subsidiary, Bollinger Motors (“Bollinger”), has achieved a key commercial EV milestone with its B4 all-electric, Class 4 low cab forward chassis truck, receiving certification from the  California Air Resources Board (“CARB”).

The CARB certification is a requirement to sell vehicles in the CARB-compliant states of California, Colorado, Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Vermont and the District of Columbia. All CARB states and locations have adopted vehicle standards Section 177 of the Clean Air Act (42 U.S.C. §7507), which requires additional approvals beyond Environmental Protection Agency regulations.

CARB certification provides a path for Bollinger Motors’ customers to qualify for additional state incentives, such as California’s HVIP project (“HVIP”). When combined with the B4’s $40,000 IRS rebate, HVIP can offer a rebate of up to $60,000, adding up to $100,000 in combined total savings.

Bollinger Motors will begin production of the B4 on Sept. 16, 2024, with customer deliveries to begin in October.

“The CARB certification represents an important milestone in our mission to bring a world-class electric vehicle to market,” said Bryan Chambers, Bollinger Motors’ president and chief operating officer.  “Environmental requirements are critical to meeting customer expectations and providing sale-ready vehicles. With this important accomplishment, the B4 is one step closer to electrifying vehicle fleets from coast-to-coast.”

The CARB certification is among a long list of Bollinger Motors’ milestones in recent months including receiving the Certificate of Conformity from the Environmental Protection Agency; providing  full warranty coverage of the B4 chassis cab; a 145 vehicle sale to Momentum Group; a 70 vehicle sale to Doering Fleet Management; a 50 vehicle sale to EnviroCharge; the addition of TEC Equipment, Affinity Truck Center, Nacarato Truck Centers, Nuss Truck & Equipment, and LaFontaine Automotive Group as dealers and service centers; adding Our Next Energy in Novi, Michigan, to supply battery packs; teaming up with Syncron as its warranty administration partner; and adding Amerit Fleet Solutions as its mobile service provider.

To learn more about Bollinger Motors, visit www.BollingerMotors.com.

About Bollinger Motors

Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Michigan. Bollinger Motors is developing all-electric commercial chassis cab trucks, Classes 4-6. In September of 2022, Bollinger Motors became a majority-owned company of Mullen Automotive, Inc. (NASDAQ: MULN). Learn more at www.BollingerMotors.com and www.MullenUSA.com. 

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. 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 Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include how long state and federal electric vehicle incentive programs will continue to apply and Bollinger Motors’ B4 Class trucks’ ability to qualify for such incentive programs; the impact of incentive programs on the resultant price of the Bollinger B4 Class trucks and whether the anticipated start of production and vehicle delivery dates will be realized.

Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen and Bollinger Motors' ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen and Bollinger Motors' ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen and Bollinger Motors' ability to successfully expand in existing markets and enter new markets; (iv) Mullen and Bollinger Motors' 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 and Bollinger Motors' business; (viii) changes in government licensing and regulation that may adversely affect Mullen and Bollinger Motors' business; (ix) the risk that changes in consumer behavior could adversely affect Mullen and Bollinger Motors' business; (x) Mullen and Bollinger Motors' ability to protect its intellectual property; (xi) the vehicles developed will perform as expected and (xii) 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 Automotive, Inc., of which Bollinger Motors is a partially owned subsidiary, with the Securities and Exchange Commission. Mullen and Bollinger Motors anticipate that subsequent events and developments may cause its plans, intentions, and expectations to change. Mullen and Bollinger Motors assume no obligation, and specifically disclaims any intention or obligation, to update any forward-looking statements, whether because 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 and Bollinger Motors' plans and expectations as of any subsequent date.

Bollinger Media Contact: Mike DeVilling(248) 875-4207, mdevilling@westshorepr.com

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

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

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• CARB Certification is a Key Milestone for Selling Vehicles in CARB States and District of Columbia