Mullen Automotive (NASDAQ: MULN) is taking significant strides in the production of next-generation battery packs and modules at its Fullerton, California facility, a move that underscores the company's dedication to zero emissions and reducing reliance on imported battery components. This initiative is a pivotal part of Mullen's strategy to foster sustainability and energy independence in the electric vehicle (EV) sector.
David Michery, CEO and Chairman of Mullen Automotive, highlighted the company's commitment to transitioning to American-made battery technology. This effort is particularly relevant as the demand for sustainable transportation solutions continues to rise. Mullen's focus on domestic production is complemented by its expansion in the U.S. electric vehicle market, with operations in Tunica, Mississippi, and Mishawaka, Indiana, showcasing its investment in American manufacturing.
The company's commercial vehicle production commenced in Tunica in August 2023, followed by IRS approval for federal EV tax credits on its commercial vehicles in September 2023. This designation allows eligible customers to receive up to $7,500 per vehicle, enhancing the affordability of Mullen's EVs. Furthermore, the Mullen ONE and Mullen THREE have achieved CARB and EPA certification, facilitating their sale across the U.S. and offering additional incentives like the HVIP approval for the Mullen THREE, which provides up to a $45,000 cash voucher.
Mullen's commercial dealer network has grown to include seven dealers across crucial U.S. regions, ensuring comprehensive sales and service coverage. The company's Tunica facility also received Foreign Trade Zone (FTZ) status, offering operational benefits such as duty deferment and elimination on exported vehicles, thereby improving efficiency and cost-effectiveness.
By prioritizing domestic battery production, Mullen Automotive is not only advancing its sustainability objectives but also contributing to the reduction of carbon emissions and the promotion of sustainable transportation. This initiative positions Mullen as a key player in the U.S. automotive industry's shift towards electric vehicles, potentially setting a benchmark for other companies in the sector.
