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Mullen Automotive | 8-K: California Issues HVIP Approval, Granting Mullen's Class 3 EV Trucks a $45,000 Cash Voucher Per Vehicle Sold

SEC announcement ·  Apr 29 10:03
Summary by Moomoo AI
On April 29, 2024, Mullen Automotive Inc., an electric vehicle manufacturer, announced that the California Air Resources Board (CARB) has approved its all-electric Class 3 low cab forward truck, the 2024 Mullen THREE, for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). This approval enables the Mullen THREE EV truck, priced at a suggested MSRP of $68,500, to qualify for a cash voucher of up to $45,000. When combined with the available $7,500 federal tax credit, the net effective cost to consumers could be reduced to less than $17,000. The HVIP program is designed to accelerate the adoption of zero-emission commercial vehicles by providing point-of-sale vouchers to make them more affordable. Mullen Automotive has also received CARB approval for its...Show More
On April 29, 2024, Mullen Automotive Inc., an electric vehicle manufacturer, announced that the California Air Resources Board (CARB) has approved its all-electric Class 3 low cab forward truck, the 2024 Mullen THREE, for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). This approval enables the Mullen THREE EV truck, priced at a suggested MSRP of $68,500, to qualify for a cash voucher of up to $45,000. When combined with the available $7,500 federal tax credit, the net effective cost to consumers could be reduced to less than $17,000. The HVIP program is designed to accelerate the adoption of zero-emission commercial vehicles by providing point-of-sale vouchers to make them more affordable. Mullen Automotive has also received CARB approval for its 2024 and 2025 Class 3 model years and has EPA and CARB certifications for its Class 1 and Class 3 commercial vehicles, ensuring full compliance with U.S. Federal Motor Vehicle Safety Standards. The Mullen THREE is built to meet urban last-mile delivery demands, offering a 125-mile range and a versatile chassis for various vocational applications. The company has manufacturing facilities in Mississippi and Indiana and began commercial vehicle production in August 2023. Mullen's vehicles are now available for sale in the U.S. with federal EV tax credits for eligible customers.

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