via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an electric vehicle (“EV”) manufacturer, announces
today the addition of zero-emissions commercial vehicle dealership,
Eco Auto, a Boston, Massachusetts, area dedicated EV dealer. As
Mullen’s newest franchise dealer, Eco Auto will cover national
fleet opportunities for the Company’s full line of commercial
electric vehicles with particular focus on the regional New England
area. Eco Auto’s initial vehicle order includes 10 Mullen ONE,
Class 1 EV cargo vans, and 3 Mullen THREE, Class 3 EV cab forward
EV trucks.
Headquartered in Tewksbury, Massachusetts, Eco Auto is a
national franchise of automotive dealerships with a core focus of
making EVs accessible to all. Eco Auto offers a comprehensive
electric vehicle experience for customers by providing affordable
EVs, hybrid models, advanced charging stations, and expert EV
service in state-of-the-art facilities.
“We at Eco Auto are focused on lowering the barriers to entry to
sustainable transportation for all and now through our partnership
with Mullen that includes municipalities and businesses that want
to have a positive impact on the environment and in their local
communities,” said Al Salas, president of Eco Auto.
“The New England area is a key Northeast hub for commercial
fleet companies and one we are excited to enter,” said David
Michery, CEO and chairman of Mullen Automotive. “Eco Auto brings a
wealth of frontline retail experience, a strong dedication to EVs,
and is a great partner for us to align with.”
The addition of Eco Auto demonstrates Mullen’s ongoing
commitment to expanding its commercial EV sales network across the
United States. With this new partnership, Mullen now has five new
dealers added in recent months, solidifying its national presence
and offering businesses across the country access to its innovative
commercial electric vehicles.
Mullen’s commercial EV lineup includes the Mullen ONE, Class 1
EV cargo van, and Mullen THREE, Class 3 EV cab chassis truck,
purpose-built to meet the demands of urban last-mile delivery. Both
vehicles are available for sale and in full compliance with U.S.
Federal Motor Vehicle Safety Standards, EPA and CARB
certifications. The Mullen THREE is approved for the California
HVIP program which offers a $45,000 cash incentive. When combined
with the available $7,500 federal tax credit, the net effective
cost of the Mullen THREE could be less than $17,000.
About Eco AutoHeadquartered in Tewksbury,
Massachusetts, we are a national franchise of dealerships with a
core focus of making EVs accessible to all. We go beyond
traditional dealerships. At Eco Auto, we provide affordable EVs,
hybrid models, advanced charging stations, and expert service in
state-of-the-art facilities tailored for a seamless EV experience.
Explore our offerings and stay informed on the latest models,
incentives and franchise opportunities at www.myecoauto.com.
About MullenMullen Automotive (NASDAQ: MULN) is
a Southern California-based automotive company building the next
generation of commercial electric vehicles (“EVs”) with two United
States-based vehicle plants located in Tunica, Mississippi,
(120,000 square feet) and 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 U.S. Recently, CARB issued HVIP
approval on the Mullen THREE, Class 3 EV truck, providing up to
$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 and Range Truck Group, providing sales and service coverage
in key Midwest, West Coast and Pacific Northwest 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.
Forward-Looking StatementsCertain statements in
this press release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Exchange Act of 1934, as amended. Any statements
contained in this press release that are not statements of
historical fact may be deemed forward-looking statements. Words
such as "continue," "will," "may," "could," "should," "expect,"
"expected," "plans," "intend," "anticipate," "believe," "estimate,"
"predict," "potential" and similar expressions are intended to
identify such forward-looking statements. All forward-looking
statements involve significant risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements, many of which are
generally outside the control of Mullen and are difficult to
predict. Examples of such risks and uncertainties include, but are
not limited to, whether the Eco Auto dealership will be successful
in selling Mullen’s vehicles, the timing of fulfillment for the
initial vehicle orders and how long governmental tax credit and
other incentive programs will apply. Additional examples of such
risks and uncertainties include but are not limited to: (i)
Mullen’s ability (or inability) to obtain additional financing in
sufficient amounts or on acceptable terms when needed; (ii)
Mullen's ability to maintain existing, and secure additional,
contracts with manufacturers, parts and other service providers
relating to its business; (iii) Mullen’s ability to successfully
expand in existing markets and enter new markets; (iv) Mullen’s
ability to successfully manage and integrate any acquisitions of
businesses, solutions or technologies; (v) unanticipated operating
costs, transaction costs and actual or contingent liabilities; (vi)
the ability to attract and retain qualified employees and key
personnel; (vii) adverse effects of increased competition on
Mullen’s business; (viii) changes in government licensing and
regulation that may adversely affect Mullen’s business; (ix) the
risk that changes in consumer behavior could adversely affect
Mullen’s business; (x) Mullen’s ability to protect its intellectual
property; and (xi) local, industry and general business and
economic conditions. Additional factors that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements can be found in the most recent annual
report on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K filed by Mullen with the Securities and
Exchange Commission. Mullen anticipates that subsequent events and
developments may cause its plans, intentions and expectations to
change. Mullen assumes no obligation, and it specifically disclaims
any intention or obligation, to update any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by law. Forward-looking
statements speak only as of the date they are made and should not
be relied upon as representing Mullen’s plans and expectations as
of any subsequent date.
Contact:Mullen Automotive, Inc.+1 (714)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
- Echo Auto will cover New England Area
Mullen Automotive (NASDAQ:MULN)
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