Mullen Automotive, Inc. (NASDAQ:MULN) disclosed an order for 10 Class 3 EV cab chassis trucks from Associated Coffee, a Bay Area coffee and snack distributor.
The order was fulfilled by b, a leading West Coast commercial dealer and authorized Mullen EV dealer.
Mullen’s commercial EV lineup features the Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck, designed for urban last-mile delivery.
The Mullen THREE qualifies for a $45,000 cash rebate through California’s HVIP program and a $7,500 Federal Tax Incentive, providing significant savings for commercial fleet customers.
“Our commercial EVs are an ideal solution for office coffee and snack delivery services, and the San Francisco Bay Area is a well-known established region for electric vehicle adoption,” said David Michery, CEO and chairman of Mullen Automotive.
This week, Bollinger Motors, a subsidiary of Mullen Automotive, secured a follow-on order from TEC Equipment for seven Bollinger B4 trucks.
The company stated that the payment for all seven vehicles has been received, and the revenue will be recognized in the fiscal quarter ending December 2024.
Last month, the company announced that the Bollinger Motors 2025 Bollinger B4 truck qualified for California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP).
Under HVIP, the 2025 Bollinger B4 EV truck, with a suggested MSRP of $158,758, now qualifies for up to a $60,000 cash voucher. When added to the available $40,000 federal tax credit, the net effective cost of the B4 could be less than $59,000.
Price Action: MULN shares are down 2.22% at $2.25 at the last check Thursday.
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