Mullen Automotive Inc. (NASDAQ: MULN) has announced that its commercial electric vehicles are now eligible for incentives under Illinois' ComEd Business & Public Sector EV Rebate Program. This development allows businesses purchasing Mullen vehicles through Pritchard EV or Range Truck Group to qualify for up to $7,500 per Mullen ONE Class 1 cargo van. When combined with federal tax credits, total savings can reach $15,000, providing a substantial financial incentive for businesses to transition to electric fleets.
The ComEd program also extends to medium-duty EVs, which may qualify for rebates up to $30,000. However, due to high demand, applications for these rebates are currently waitlisted. This initiative complements existing state-level incentives in California and Massachusetts, further broadening the avenues for cost savings in fleet electrification and underscoring the growing support for sustainable transportation solutions. The Mullen ONE, a Class 1 EV cargo van, and the Mullen THREE, a Class 3 EV cab chassis truck, are both CARB and EPA certified, making them available for sale across the U.S.
The CARB-issued HVIP approval for the Mullen THREE offers up to a $45,000 cash voucher at the time of purchase, further enhancing the affordability of electric commercial vehicles. This news is particularly significant for businesses looking to reduce their carbon footprint and operational costs through electrification. The availability of such incentives not only makes the transition to electric vehicles more financially viable but also aligns with broader environmental goals and the increasing demand for sustainable business practices.
The expansion of Mullen's commercial dealer network to include seven dealers, such as Papé Kenworth, Pritchard EV, and National Auto Fleet Group, among others, ensures comprehensive sales and service coverage in key markets across the U.S. This, combined with the Foreign Trade Zone status approval for its Tunica manufacturing center, positions Mullen Automotive as a key player in the push towards greener commercial transportation options. With production facilities in Tunica, Mississippi, and Mishawaka, Indiana, the company has made significant strides in the EV market.
