Mullen Automotive Inc Stock Price, News & Analysis

Mullen Automotive (NASDAQ: MULN) announces a collaboration with Emerald Transportation Solutions and the Papé Group to develop a refrigerated upfit for the Mullen THREE Class 3 electric truck. The initiative targets expanding markets in home delivery, frozen food, grocery, and beverage transportation. The Mullen THREE features a versatile chassis supporting bodies up to 14 feet long with over 5,300 lbs payload capacity. The vehicle qualifies for significant incentives, including a $15,000 rebate through Massachusetts' MOR-EV program and a $45,000 voucher through California's HVIP program, plus the $7,500 Federal Tax Incentive.

Mullen Automotive has provided an update on its Fullerton, California battery operations. The company has installed three battery production lines at the facility and plans to add two more lines by early 2025. The current setup includes a high-volume standard battery line, a precision R&D line for standard chemistry, and a solid-state polymer R&D line. Additional installations planned include a high-volume standard chemistry line in December 2024 and a fully automated wire bonding line by February 2025. Production is anticipated to begin in mid-2025, supporting Mullen's commitment to domestic battery manufacturing and reducing foreign dependency.

Mullen Automotive announces new orders for its Mullen ONE Class 1 EV cargo vans from two California universities in Los Angeles and Berkeley. This follows recent orders from Princeton University, UVA, and UNC. The deliveries were made through Mullen's dealer partners, National Fleet Auto Group and Randy Marion Automotive Group.

The company's EVs align with universities' zero emission goals, offering immediate impact on campus fleet sustainability. The Mullen ONE and Mullen THREE vehicles are fully compliant with federal safety standards and CARB certifications. Both models qualify for significant incentives, including up to $45,000 in HVIP rebates for the THREE and $3,500 MOR-EV incentives for the ONE, plus $7,500 Federal Tax Incentives.

Bollinger Motors has received HVIP approval in California, qualifying its B4 electric truck for a $60,000 cash voucher per vehicle. The B4, with an MSRP of $158,758, can now benefit from up to $100,000 in combined incentives when including the $40,000 federal tax credit, effectively reducing the cost to below $60,000. The Class 4 commercial EV features a 185-mile range, 7,394 lbs payload, and a 158-kwh battery pack. The company has recently achieved several milestones, including production launch, regulatory certifications, and multiple fleet agreements totaling 265 vehicles with various companies.

Mullen Automotive announces that its subsidiary Bollinger Motors' 2025 B4 electric truck has received HVIP approval from California Air Resources Board (CARB). The Class 4 EV truck, with an MSRP of $158,758, now qualifies for a $60,000 cash voucher through the HVIP program. When combined with the $40,000 federal tax credit, the net cost could be reduced to under $59,000. The B4 features a 185-mile range, 7,394-pound payload, and a 158-kilowatt-hour battery pack. Bollinger has secured multiple vehicle agreements and established dealer partnerships, while also achieving regulatory milestones including FMVSS compliance and EPA certification.

Bollinger Motors has partnered with National Auto Fleet Group (NAFG) to sell its all-electric Class 4 Bollinger B4 commercial trucks to government agencies through NAFG's Sourcewell contract. The B4 Chassis Cab features a 185-mile range, 7,394 lbs payload, and a 158-kwh battery pack. Recent company milestones include production launch, regulatory certifications, multiple vehicle agreements totaling 265 units, dealer network expansion, and partnerships for battery supply and warranty services.

Mullen Automotive announces partnership with National Auto Fleet Group (NAFG) to sell Bollinger B4 electric commercial trucks to government agencies through NAFG's Sourcewell contract. The B4 Chassis Cab is an all-electric Class 4 truck with a 185-mile range and 7,394-pound payload capacity, featuring a 158-kilowatt-hour battery pack. Bollinger Motors has achieved several milestones, including production launch, regulatory certifications, and multiple vehicle agreements totaling 265 units with various fleet management companies. The company has also expanded its dealer network and established partnerships for warranty administration and mobile services.

Mullen Automotive announces that its Class 1 EV cargo van, the Mullen ONE, is now available for rental on Turo, the world's largest vehicle sharing marketplace. The initial pilot launch is in Jacksonville, Florida, through Parasol Strategic Solutions, with a second pilot planned for Baltimore, Maryland. The Mullen ONE and THREE models are eligible for significant incentives, including up to $15,000 through Massachusetts' MOR-EV program and $45,000 through California's HVIP program. When combined with the $7,500 Federal Tax Incentive, these vehicles offer substantial savings for commercial fleet customers.

Bollinger Motors announced eligibility for New York's Truck Voucher Incentive Program (NYTVIP), becoming the fourth Northeast state incentive qualification. The company's all-electric B4 Chassis Cab can now receive up to $100,000 in NY state credits. Combined with other Northeast state incentives and federal IRA credits of $40,000, customers can access between $70,000-$140,000 in total incentives.

The 2025 B4 features a 158-kilowatt-hour battery pack and is designed for commercial fleets. Recent company milestones include production launch, regulatory certifications, multiple fleet sales totaling 265 vehicles, dealer network expansion, and partnership announcements with ONE for batteries, Syncron for warranty administration, and Amerit Fleet Solutions for mobile service.