Mullen Automotive (NASDAQ: MULN), an electric vehicle (“EV”) manufacturer, has received an order for one Mullen One, a Class 1 EV cargo van, from the University of Virginia for the school’s fleet of commercial vehicles. According to the announcement, the order, which follows an earlier purchase the university made last year, will be fulfilled by Mullen’s commercial retail dealer partner, Randy Marion Automotive Group (“RMA”).
The company also noted that it recently received a $7.7 million, 180-vehicle order from its dealer partner Eco Auto. The two orders represent a growing demand for Mullen’s electric commercial vehicles, the announcement pointed out. The company’s commercial EV lineup supports sustainability targets that many universities are working toward. Specifically, UVA is actively working to achieve carbon neutrality by 2030 and fossil fuel independence by 2050, as well as reduce nitrogen losses by 30% by 2030.
“We are proud to partner with the University of Virginia in their mission to create a more sustainable campus,” said Mullen Automotive CEO and chair David Michery in the press release. “We’re seeing a significant and growing demand for electric vehicles in the higher education sectors as universities lead the transition to clean energy. We are confident that our vehicles will contribute significantly to UVA’s sustainability initiatives.”
To view the full press release, visit https://ibn.fm/NENZ9
About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) at its two United-States-based vehicle plants, one located in Tunica, Mississippi (120,000 square feet), and one located in 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 United States. Recently, CARB issued Hybrid and Zero-Emissions Truck and Bus Voucher Incentive Project (“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, 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.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
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