Mullen Automotive (NASDAQ: MULN) has taken a significant step in expanding its presence in the electric vehicle (EV) market on the West Coast. The company’s subsidiary, Bollinger Motors, has successfully delivered three Bollinger B4 electric trucks to TEC Equipment locations across Washington and California. This move marks a crucial milestone for Mullen as it strengthens its position in the commercial EV sector.
The 2025 Bollinger B4, an all-electric Class 4 chassis cab truck designed for commercial use, is at the forefront of this expansion. These deliveries are not only a testament to Bollinger’s commitment to fleet electrification but also represent a substantial revenue contribution to Mullen’s fiscal quarter ending December 2024. The strategic partnership with TEC Equipment as a new dealer further solidifies Mullen’s distribution network and market reach.
One of the key advantages of the Bollinger B4 model is its eligibility for up to $100,000 in federal and state tax incentives. This financial benefit significantly enhances the appeal of the B4 for potential commercial customers, potentially accelerating the adoption of electric vehicles in the commercial truck sector. The tax incentives, combined with the B4’s performance and environmental benefits, position Bollinger Motors as a strong contender in the evolving EV commercial truck market.
This development comes on the heels of recent production and regulatory milestones achieved by Mullen Automotive. The company has been making strides in its manufacturing capabilities, with two United States-based vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana. The Tunica facility, spanning 120,000 square feet, began commercial vehicle production in August 2023, while the Mishawaka plant boasts an impressive 650,000 square feet of manufacturing space.
Mullen’s progress in the EV sector is further underscored by its recent achievements in regulatory compliance and incentives. In September 2023, the company received IRS approval for federal EV tax credits on its commercial vehicles, gaining a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. Additionally, as of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, have received California Air Resource Board (CARB) and EPA certification, making them available for sale in the United States.
The CARB-issued HVIP approval on the Mullen THREE, Class 3 EV truck, provides an additional incentive of up to a $45,000 cash voucher at the time of vehicle purchase. These approvals and incentives significantly enhance the attractiveness of Mullen’s EV offerings in the commercial sector.
Mullen has also been expanding its commercial dealer network, which now includes seven dealers with the recent addition of Papé Kenworth. This growing network, which includes Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, provides comprehensive sales and service coverage in key markets across the Midwest, West Coast, Pacific Northwest, New England, and Mid-Atlantic regions.
The company’s strategic moves extend beyond product development and distribution. Mullen recently announced Foreign Trade Zone (FTZ) status approval for its Tunica, Mississippi, commercial vehicle manufacturing center. This FTZ status offers several benefits, including the deferment of duties owed and the elimination of duties on exported vehicles, potentially improving the company’s competitive position in international markets.
As Mullen Automotive continues to make significant strides in the EV commercial sector, the delivery of Bollinger B4 trucks to the West Coast marks an important step in the company’s growth strategy. With a strong focus on innovation, regulatory compliance, and strategic partnerships, Mullen is positioning itself as a key player in the ongoing transition to electric commercial vehicles.
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